A Jersey manager is typically required to hold a "fund services business" licence, which can be obtained within weeks. There are broadly two types of licence: a "managed entity" licence and a "full codes" licence, each with...more
On 5 December 2024 the UK's Sanctions (EU Exit) (Miscellaneous Amendments) (No.2) Regulations 2024 came into force. The UK Regulations are made under the UK Sanctions and Anti-Money Laundering Act 2018 ("SAMLA") and make...more
1/10/2025
/ Anti-Money Laundering ,
Artificial Intelligence ,
Beneficial Owner ,
Compliance ,
Data Breach ,
Data Protection ,
Deferred Prosecution Agreements ,
Financial Crimes ,
Financial Services Industry ,
Income Taxes ,
Investors ,
Island of Guernsey ,
OECD ,
Proposed Rules ,
Risk Assessment ,
Sanctions ,
Sanctions and Anti-Money Laundering Act 2018 (SAMLA) ,
Terrorist Financing ,
UK
A JPF is a private fund product which is lightly regulated -
A JPF can be established in various forms...more
Effects of a company migration into -
Jersey Steps to migrate a company out of Jersey...more
The application process and evidence required by the JFSC for a migration -
Consideration of a migration application by the JFSC...more
1/7/2025
/ Applications ,
Commercial Bankruptcy ,
Companies Law ,
Creditors ,
Debt ,
Fees ,
Incorporation ,
Insolvency ,
Jurisdiction ,
Liability ,
Liquidation
There is a growing trend for large UK-based companies to consider exploring listings on US stock exchanges such as the New York Stock Exchange (NYSE) and NASDAQ, potentially at the expense of the London Stock Exchange plc...more
12/5/2024
/ Business Listings ,
Channel Islands ,
Corporate Governance ,
Disclosure Requirements ,
Financial Services Industry ,
Infrastructure ,
Initial Public Offering (IPO) ,
Investment ,
Investors ,
London Stock Exchange ,
Nasdaq ,
NYSE ,
REIT ,
Stock Exchange ,
Trading Platforms ,
UK
On 1 April 2022, the UK introduced a new tax advantaged corporate structure, a "qualifying asset holding company" ("QAHC"), which benefits from a number of UK tax breaks.
A crucial requirement for QAHC eligibility is that...more
Guernsey has passed legislation to implement the OECD's global minimum tax rate of 15%, known as "Pillar 2", which will apply for fiscal years commencing on or after 1 January 2025....more
Jersey has passed legislation to implement the OECD's global minimum tax rate of 15%, known as "Pillar 2", which will apply for fiscal years commencing on or after 1 January 2025....more
It is possible to issue RWA tokens using a Jersey company to act as the issuer.
The Jersey regulator has published a guidance note on the tokenisation of RWAs.
This guidance note sets out the applicable requirements and...more
11/11/2024
/ Anti-Money Laundering ,
Audits ,
Digital Assets ,
Financial Services Industry ,
Lending ,
Marketing ,
Policies and Procedures ,
Popular ,
Recordkeeping Requirements ,
Regulatory Agenda ,
Stablecoins ,
UK
Limited Liability Companies ("LLCs") offer flexibility and familiarity to investment fund, corporate and finance industry participants, particularly those in the US market.
US federal tax 'check-the-box' treatment is...more
Jersey is a well-established jurisdiction of choice for issuing debt securities in international finance transactions. Recently, we have seen a steady increase in interest in Jersey debt securities issuers either for a...more
Introduction of separate limited partnerships.
Introduction of incorporated limited partnerships....more
As Jersey is considered from a UK and an EU perspective to be a "third country", it is outside the scope of full compliance with the AIFMD and can take advantage of the NPPR marketing routes.
A Jersey domiciled AIFM will...more
Jersey has a long-established reputation as a fund domicile for alternative investment funds.
The most popular fund structures in Jersey include companies (whether single class, multi-class, umbrella, incorporated and...more
10/7/2024
/ Business Succession ,
Illiquid Assets ,
Investment Fund Vehicles ,
Investment Funds ,
Investment Management ,
Liability ,
Limited Liability Company (LLC) ,
Limited Liability Partnerships ,
Limited Partnerships ,
Private Equity Funds ,
Real Estate Investments ,
Share Capital ,
Tax Advice ,
Trusts
The Companies (Jersey) Law 1991, as amended, (the "Law") gives Jersey companies a considerable degree of flexibility to fund the redemption of redeemable shares from any source, including capital....more
The Companies (Jersey) Law 1991, as amended, (the "Law") gives Jersey companies a considerable degree of flexibility to fund the purchase (buyback) of their own issued shares from any source, including capital....more
The Companies (Jersey) Law 1991, as amended, (the "Law") includes a simple procedure by which Jersey companies are able to carry out a reduction of capital without obtaining court approval, thereby providing a further...more
The Companies (Jersey) Law 1991, as amended, (the "Law") provides a modern, simple and flexible merger regime for relevant companies and other entities, whilst also protecting shareholder and creditor interests....more
10/4/2024
/ Applications ,
Civil Liability ,
Companies Law ,
Contract Terms ,
Corporate Entities ,
Creditors ,
Criminal Liability ,
Cross-Border Transactions ,
Debt ,
Foreign Corporations ,
Insolvency ,
Liability ,
Mergers ,
Shareholders
The financial services sector in the Channel Islands has seen the publication of a report by MONEYVAL, a proposal to increase administrative penalties and the release of two public statements.
The Bailiwick gambling...more
10/2/2024
/ AIFs ,
AML/CFT ,
Audits ,
Channel Islands ,
Compliance ,
Data Protection ,
Disclosure Requirements ,
Fees ,
Financial Crimes ,
Gambling ,
Money Laundering ,
OECD ,
Penalties ,
Regulatory Agenda ,
Reporting Requirements ,
Sustainability
Financial technology is already well established in Jersey, and firms are embedding technological solutions which enhance their products and services, increase efficiencies, and provide greater transparency.
Originally...more
9/30/2024
/ AML/CFT ,
Blockchain ,
Crypto Exchanges ,
Cryptocurrency ,
Digital Assets ,
Economic Substance Doctrine ,
Exemptions ,
FATF ,
Financial Crimes ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Global Financial Innovation Network (GFIN) ,
Initial Coin Offering (ICOs) ,
Licensing Rules ,
Money Laundering ,
Registration Requirement ,
RegTech ,
Regulatory Agenda ,
Terrorist Financing ,
Tokenization ,
Transparency
Following Jersey's intention to implement the OECD proposals for a 15% global minimum tax rate (known as "Pillar 2") in May 2024, draft legislation has now been lodged introducing a new standalone Multinational Corporate...more
Over the last few months, we have started to see new trends in inquiries and instructions regarding the use of Jersey and Guernsey structures by US managers targeting either European assets, or European capital....more
Following on from the Crown Dependencies re-affirming their commitment to implementing the Organisation for Economic Co-operation and Development’s Pillar Two framework for accounting periods commencing on or after 1 January...more
The Crown Dependencies have re-affirmed their commitment to international tax standards and the continued value of inter-island cooperation in areas of mutual interest in international tax policy.
Ministers from...more