Jersey trusts are governed by The Trust (Jersey) Law 1984, as amended in 2006, which codified trust law largely along the lines of English-based common law, and the Trusts (Amendment) (Jersey) Law 1989. Trust company business is regulated under the provisions of the Financial Services (Jersey) Law 1998. Although Jersey law has its roots in the Norman law (a ‘Roman’ or ‘Civil’ law code), the Trusts (Jersey) Law 1984 codified an entirely ‘Anglo-Saxon’ body of trust law, resolving many uncertainties and increasing protection for beneficiaries. Subsequent amendments included the recognition of ‘purpose’ trusts in 1996 (the normal form of Jersey trusts is ‘discretionary’). This has led to an increase in corporate use of Jersey trusts.
Key Features
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Jersey International Trust |
Corporate Details |
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General |
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International Trust |
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Norman law (a ‘Roman’ or ‘Civil’ law code), |
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Trust (Jersey) Law 1984 |
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2 weeks |
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None |
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No |
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Yes |
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No |
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As per Trust Deed |
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Settlor |
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Should not be a resident of Jersey |
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A trustee, a beneficiary or a protector of the trust. |
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Beneficiary |
|
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Should not be a resident of Jersey |
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A trustee, a beneficiary or a protector of the trust. |
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Should not include immovable property situated in Jersey |
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Jersey Supreme Court |
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No |
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Trust asset |
|
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No, except property situated Jersey |
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Trustee |
|
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1 if corporate and 2 or more if not corporate |
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No domestic trustee is required |
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Accounts |
|
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Yes |
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No |