Jersey Foundation
Jersey Foundation Key Features
- When it was introduced, the Jersey foundation was an entirely new legal concept and wealth management vehicle for Jersey.
- The Jersey foundation is an incorporated body which, in contrast to a trust, is able to transact in its own name.
- The foundation acts through its council which governs the foundation in accordance with the terms of the foundation’s charter and regulations.
- It is a legal requirement for every Jersey foundation to have a qualified member on its council as well as a duly-appointed guardian.
- There is no requirement for a foundation to have beneficiaries and if it does their interests are limited and their rights may be restricted.
Jersey Foundation |
Corporate Details |
General |
|
|
Yes |
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Jersey Foundations Act 2008 |
|
Foundation |
Assets |
|
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$10,000 |
|
Yes |
Founder |
|
|
2 |
|
Yes |
|
An Individual or Legal Entity |
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Beneficiary but not a sole Beneficiary |
Foundation Council |
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1 |
|
Founder may be a Councillor but not the sole Councillor |
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May be natural persons or legal entities |
|
No |
Secretary |
|
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Yes |
Accounts |
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Yes |
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Yes |
|
Yes |
- A flexible structure to hold assets to benefit family members Flexible structuring of the entity
- the foundation is chargeable to tax at the rate of 0%
- There is no requirement for a foundation to have beneficiaries and if it does their interests are limited and their rights may be restricted.
- End to end comprehensive service
- Speedy and efficient service
- Expert advice on structuring options
- Dedicated ongoing compliance support
- Extensive network pool of service providers