Jersey Foundations

Jersey Foundations are a new structure introduced in July 2009. The concept of a Foundation has its origins in civil law. Clients in Eurore and the Middle East who may struggle with the Anglo Saxon trust concept are more familiar and therefore comfortable with a Foundation.

A foundation is a structure for use in private wealth management. It is a registered incorporated entity with its own legal personality that can hold assets ,conduct business and be sued in its own name.

Key factors of a Jersey Foundation are...
A Founder. The person who instructs in the application of the incorporation of the entity.
The Council. This body acts as the administrator of the assets of the Foundation and ensures compliance with the objects for which the Foundation was established. Our wholly owned subsidiary Fairway Foundation Services Limited provides Council member (administration) services to our clients.
The Charter. This publicly registered and filed document is available for inspection. It is filed at the time of incorporation of the Foundation. Typically it will explain the objects of the Entity. If it is a Charitable Foundation it might explain the nature of the Charitable objects.
The Regulations. This private document provides agreed guidance on how the Foundation will be managed.
Qualified member. To protect Jerseys reputation from a regulatory standpoint every Foundation Council has a qualified member appointed. Fairway Foundation Services Limited hold this position for our clients.
The Guardian. This is a compulsory position and the guardian acts as an enforcer of the Councils responsibilites.
The Beneficiaries. If identified then they have no interest in the Foundation assets and nor are they entitled to any information about the foundation. However, if they become entitled to receive a benefit then they can apply to the Jersey Court to have such benefit provided.