Jersey foundations: infinitely capable

A Jersey foundation is an entirely new Jersey entity designed to blend attractive features of both Jersey companies and Jersey trusts. In many ways it can be regarded as an incorporated trust. It will have its own legal personality, as evidenced by a registered number with the Jersey Financial Services Commission (JFSC), and will be able to own property and sue and be sued in its own name. Its constitutional documents will consist of a public charter and private regulations.

The charter will be lodged with the registrar of companies in Jersey and contain certain basic items of information as required by the Foundations (Jersey) Law 2009. The privately kept regulations will typically identify those who are to benefit under the foundation, establish the foundation’s council (which is to administer the foundation’s assets and to carry out its objects), and identify the foundation’s guardian (whose duty it will be to ensure that the council carries out its functions). The foundation may, and often does, have infinite duration.

Foundations can be established on a same day “fast track” basis, like Jersey companies.