Jersey updates

Banking & Financial Services

Jersey listed funds
Ogier
  • Jersey
  • 08 September 2020

The Jersey listed fund regime was introduced for listed closed-ended companies further to the Listed Fund Guide issued by the Jersey Financial Services Commission. The structure, which is modelled on the Jersey expert fund, provides for a fast-track process for the establishment of corporate closed-ended funds that are listed on recognised stock exchanges or markets and regulated pursuant to the Collective Investment Funds (Jersey) Law 1988.

Jersey public investment funds – regulatory options
Ogier
  • Jersey
  • 24 March 2020

Jersey is long established as a primary centre for the establishment of offshore funds and has been at the forefront of international developments, which have attracted international sponsors, promoters, fund managers, advisers and investors. One of the key features of Jersey's fund industry is the flexibility and range of structures and corresponding regulatory and commercial approaches that can be used for funds.

Enforcement of Security Interests (Jersey) Law 2012
Ogier
  • Jersey
  • 17 January 2020

Under the Security Interests (Jersey) Law 1983, the powers of a secured party on enforcement were limited to a power of sale. The Security Interests (Jersey) Law 2012 changed the way in which security is created over intangible movables and introduced a wider range of enforcement powers. This article examines the enforcement of security interests in the event of default.


Corporate & Commercial

Migration of foreign limited partnerships into Jersey
Ogier
  • Jersey
  • 03 August 2020

New regulations permit foreign limited partnerships to migrate (ie, continue) into Jersey using the statutory migration process set out in the Limited Partnerships (Continuance) (Jersey) Regulations. The application process for continuance is straightforward and includes the submission of a declaration signed by the general partner of the foreign limited partnership that the partnership meets the eligibility criteria and an application for a consent in respect of the partnership under the Control of Borrowing (Jersey) Order.

Incorporating a private company
Ogier
  • Jersey
  • 13 July 2020

This article provides useful guidance on incorporating a private company under Jersey law by summarising the main legal requirements and general principles which apply in this regard (eg, company formation, share capital and continuing requirements), as well as the benefits of using a Jersey company.

Migration of companies into and out of Jersey
Ogier
  • Jersey
  • 11 May 2020

The Companies (Jersey) Law 1991 allows a company registered in a foreign jurisdiction to migrate from its home jurisdiction to Jersey provided that the laws of the foreign jurisdiction allow it to do so. In addition, a Jersey company may migrate to a foreign jurisdiction and continue as a foreign incorporated company in that jurisdiction. The procedure to migrate out of Jersey can be more lengthy than that to migrate to Jersey as notice to creditors may be required.

COVID-19 and public company AGMs
Ogier
  • Jersey
  • 20 April 2020

COVID-19 is putting pressure on boards to make quick decisions about upcoming annual general meetings (AGMs) and to communicate with their investors about how best to proceed in such uncertain times. This article discusses how best to manage the upcoming AGM season in light of the government's new restrictive measures and the developing COVID-19 pandemic.

Jersey substance proposals – company perspective
  • Jersey
  • 04 March 2019

New proposed requirements for an economic substance test for Jersey tax-resident entities have been published to meet the requirements of the EU Code of Conduct Group. Among other things, specific consideration should be given to outsourcing arrangements, to each company within a relevant structure and to updating policies and procedures.


Corporate Finance/M&A

Private equity – acquisition structures
Ogier
  • Jersey
  • 11 November 2020

Complex tax, accounting and employment matters are among those which drive the choice of acquisition structure for private equity-funded transactions. Two common types of private equity acquisition transaction are the leveraged buy-out (LBO) and the management buy-out (MBO). Where an LBO or MBO transaction involves a domestic or international business with a UK-domiciled management team, Jersey acquisition structures have gained traction with UK private equity advisers for numerous reasons.

Healthy interest in Jersey private equity
Ogier
  • Jersey
  • 26 August 2020

In a news cycle that can seem relentlessly gloomy, there are some positive stories to be told and the increased activity in private equity is one of them. This article looks beyond the financial services industry at the wider social and economic benefits of this growth. For instance, private equity is becoming increasingly active in the medical and healthcare sector, which, in turn, has led to a large number of private equity investments in areas such as technology, software and data.

Jersey private investment funds – regulatory options
Ogier
  • Jersey
  • 25 March 2020

Jersey is long established as a primary centre for the establishment of offshore funds and has been at the forefront of international developments, which have attracted international sponsors, promoters, fund managers, advisers and investors. One of the key features of Jersey's fund industry is the flexibility and range of structures and corresponding regulatory and commercial approaches that can be used for funds.


Employment & Immigration

COVID-19: government financial support for employers
Ogier
  • Jersey
  • 08 July 2020

This article outlines the financial support available to employers in Jersey that have been adversely affected by measures introduced to manage the spread of COVID-19. Such support includes the payroll co-funding scheme and the deferral of social security contributions.


Environment & Climate Change

The role of legislation in environmental protection and the Jersey legal framework
  • Jersey
  • 10 June 2019

Jersey's environmental legislation covers areas including water pollution, nuisance, planning, wildlife and waste disposal. Further, the minister for planning and the environment has the power to exercise enforcement in a number of ways. This system ensures that all development within Jersey is carried out in accordance with the local legislation and any specific conditions imposed by the minister. However, even with active and engaged enforcement, legislation can only go so far.