Innovative system of charity registration in Jersey07 Mar 2018
With effect from 1 May 2018, it will be possible to register a charity in Jersey.
The Island's innovative system of charity registration:
- offers two alternative categories of registration, with the choice impacting on the accessibility of information on the public register;
- provides for registration to be voluntary, albeit relevant in determining entitlement to certain charitable tax reliefs and to the use of the term "charity".
With the introduction of this innovative system of registration for charities, Jersey is well-positioned to operate as a centre of excellence for philanthropic wealth structuring:
- The Island's trusts and foundations legislation places a strong emphasis on the importance of flexibility, so that structures can be tailored to each philanthropist's own requirements.
- There is a choice in relation to publicity. For those not wishing to have a public profile in relation to their philanthropy, trusts can be an attractive choice as there is no public registration of trusts in Jersey. For those who are keen to have a public profile, there is a range of registration options to choose from. For some families, registration as a foundation will be appropriate; for others, registration (of a trust or foundation) as a charity under the Charities Law, either on the general section or on the restricted section, will be preferred.
- Jersey is a tax neutral environment in which to establish structures, with Jersey tax exemptions also available subject to compliance with relevant conditions.