The Jersey foundation marks its fifth anniversary!
17 July 2014
Today marks the fifth anniversary of the introduction of the Jersey foundation. Recognising the growing demand for foundations by the Island's increasingly international client base, the Foundations (Jersey) Law 2009 (the "Jersey Foundations Law") was brought into force on 17 July 2009.
The foundation was established as a new form of incorporated entity in Jersey and is not an exact equivalent or copy of a foundation established in any other jurisdiction. The Jersey Foundations Law has flexibility at its core, allowing for tailored structuring of foundations to meet individual client requirements.
From the beginning, three broad categories of use for the Jersey foundation - for succession planning, as orphan structures for specified purposes, and for philanthropy - have been clearly identified and continue to grow and develop, utilising the flexibility of structuring offered by the Jersey Foundations Law.
Please see our briefing for more details in relation to Jersey foundations and their use.
For further information, please contact Zillah Howard or Edward Bennett.