Jersey's offering is broader than just market access and leading expertise
Expertise
A variety of tested fund vehicles
Jersey funds can be structured as companies (of various types, including cell companies), limited partnerships (of various types, with or without legal personality) and unit trusts, all of which have been tried and tested as fund vehicles for many years and permit easy repatriation of investment proceeds to fund investors.
Host to all types of fund structure
Jersey can host closed or open ended funds or hybrids; blind pool funds, club arrangements, co-investment structures and managed accounts, as well as listed funds through easy access to The International Stock Exchange (TISE).
A mature and expert alternatives industry
Over 40 years’ experience of establishing, operating and liquidating alternative funds of all key asset classes in several positive and negative financial cycles.
Global Access
A global distribution hub
For decades Jersey has been a tried and tested, centrally located, fund domicile through which investors from key global markets (North America, the UK, Asia, Middle East, Switzerland and continental EU) have invested $billions into alternative assets of all classes (real estate, hedge, private equity, venture capital, debt, credit, infrastructure etc.) Jersey provides unrivalled third country access to the EU market through the use of the EU private placement regime and is already ESMA-approved for future AIFMD passporting.
Convenient location, ease of access and an enriching lifestyle
Located in the same central global time zone as London, Jersey is less than an hour’s flight from London, and is close to numerous other UK, Swiss and European airports (including frequent British Airways (code share) and EasyJet airbus flights). Jersey offers significant lifestyle benefits for visitors and inhabitants alike, with a beautiful coastal and countryside environment, Michelin-starred cuisine and award-winning spa hotels.
English speaking but multi-cultural
Whilst English is spoken and written in most financial transactions, the jurisdiction is multicultural and many of our 13,000-strong finance industry workers also speak and write in other languages.
Service Touchpoints
Service quality
Jersey has a “can do” Anglo-Saxon service ethos, driven by its natural and long-standing affinity with the City of London, providing bespoke alternative funds services; not a commoditised, quasi-retail environment.
Cost effectiveness offers better returns
Jersey’s streamlined regulatory products and its ability to offer funds to global investors outside the AIFMD environment (removing the additional costs associated with AIFMD depositary, capitalisation, risk management, reporting etc.) can result in lower running costs and higher investor returns in a VAT-free jurisdiction.
Support
Offering substance and support services
Jersey already hosts over 120 asset managers with a substantive office presence in the Island, as well as offering risk and portfolio management expertise and comprehensive administrative services to those managers requiring operational support on the ground. The jurisdiction hosts a Jersey Hedge Fund Group which brings together the growing community of local hedge fund managers and links into the BVCA through its Channel Islands working group.
Comprehensive and robust technology infrastructure
Jersey offers ISO/IEC 27001 technology solutions which include gigabit internet (among the fastest in the western world), hosts large local data centres and benefits from comprehensive disaster recovery options.
Comprehensive alternative fund servicing infrastructure
Over 13,000 finance industry employees and an array of expert administrators, custodians, depositaries, banks, auditors, insurers, experienced non-executive directors and funds lawyers.
Government
Government support for industry
As Jersey’s largest provider of employment and revenue, its finance industry enjoys the strong support of Jersey’s government under a recently published policy framework (prepared after an independent 2013 McKinsey review) which actively encourages new funds business, employment and productivity.
Political and economic stability
A politically and fiscally autonomous and stable British Crown Dependency with a secure, special relationship with the UK, but not part of the UK or the EU; Jersey is perfectly positioned to benefit, not suffer, from Brexit developments.
Tax simplicity and certainty
Jersey offers an uncontroversial tax neutral environment required of any fund domicile, with no VAT or CGT, and without reliance on a BEPS-prone and complex system of tax rulings, exemptions and deductions, hybrid financing or double tax treaty (DTA) networks. Jersey is not host to morally ambiguous and politically sensitive “profitshifting” or state aid arrangements hosted in some onshore EU centres, and is not subject to the application of reactive EU tax policy in these areas (common corporate tax base, FTT, ATAD etc.)
Regulation
Unrivalled regulatory optionality
Diverse regulatory product options offering a sliding scale of regulation and cost, depending on manager and investor requirements: - Unregulated Funds (for non-EU investors) - Private Funds (up to 50 investors) - Expert or Listed Funds (over 50 investors) - AIFMD-compliant Funds for future EU passporting (with “RAIF” variant in development)
Regulatory certainty and innovation
The Jersey Financial Services Commission (JFSC) is an approachable, globally respected and co-operative regulator, supervising pragmatic regulation that meets international standards (IMF, IOSCO, ESMA, FATF). This regulation matures innovatively and collaboratively between the JFSC, government and industry. There is no inevitable application of developing EU regulation (AIFMD, EMIR, MiFID II, MAD, etc.) unless essential for active EU marketing.
Speed to market
We recognise the importance of swift transaction execution for alternative investment and Jersey offers quicker regulatory outcomes than competitor jurisdictions: authorisations in days for smaller and more lightly regulated structures, and in weeks (not months) for closely regulated structures.
A global leader in transparency and combating financial crime
A world-leading MONEYVAL anti-money laundering assessment in 2016; OECD white-listed; a “first wave” signatory to all key international tax information exchange programmes, including FATCA, CRS and BEPS; Jersey is unique in long-maintaining a central (but not public) register of beneficial ownership.