Latest updates

Jersey expert funds
Ogier
  • Private Client & Offshore Services
  • Jersey
  • 24 September 2020

Jersey expert funds were introduced to enhance Jersey's attractiveness as a jurisdiction for the establishment of funds aimed at institutional and high-net-worth investors. Expert funds can be established within a matter of days on the basis of a self-certification approach without any formal regulatory review of the fund or its promoter. There are currently more than 400 authorised expert funds.

Recognition of UK insolvency practitioners in Jersey
Ogier
  • Insolvency & Restructuring
  • Jersey
  • 11 September 2020

In the current COVID-19 environment, more businesses will likely become insolvent, some of which will have an interest in Jersey property. Insolvency practitioners appointed outside Jersey in respect of an overseas person or company (or Jersey company subject to English insolvency proceedings) must be recognised in Jersey before they can deal with certain forms of Jersey property. This is because Jersey immoveable property can be transacted only by passing a contract before the Royal Court.

Recognition of UK insolvency practitioners in Jersey
Ogier
  • Private Client & Offshore Services
  • Jersey
  • 10 September 2020

In the current COVID-19 environment, more businesses will likely become insolvent, some of which will have an interest in Jersey property. Insolvency practitioners appointed outside Jersey in respect of an overseas person or company (or Jersey company subject to English insolvency proceedings) must be recognised in Jersey before they can deal with certain forms of Jersey property. This is because Jersey immoveable property can be transacted only by passing a contract before the Royal Court.

Jersey listed funds
Ogier
  • Banking & Financial Services
  • 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 listed funds
Ogier
  • Private Client & Offshore Services
  • Jersey
  • 03 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.

Healthy interest in Jersey private equity
Ogier
  • Corporate Finance/M&A
  • 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.

Healthy interest in Jersey private equity
Ogier
  • Private Client & Offshore Services
  • Jersey
  • 20 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.

Migration of foreign limited partnerships into Jersey
Ogier
  • Corporate & Commercial
  • 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.

Migration of foreign limited partnerships into Jersey
Ogier
  • Private Client & Offshore Services
  • Jersey
  • 30 July 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.

Testing times for data privacy
Ogier
  • Tech, Data, Telecoms & Media
  • Jersey
  • 24 July 2020

Data privacy has been high on the 2020 agenda. Its relevance in the context of the COVID-19 pandemic is undoubtedly the bulky portion of an iceberg that skulks beneath troubled socioeconomic waters. With life having changed dramatically, this article reflects on how data issues have been brought to the fore as part of the response to COVID-19.

Testing times for data privacy
Ogier
  • Private Client & Offshore Services
  • Jersey
  • 23 July 2020

Data privacy has been high on the 2020 agenda. Its relevance in the context of the COVID-19 pandemic is undoubtedly the bulky portion of an iceberg that skulks beneath troubled socioeconomic waters. With life having changed dramatically, this article reflects on how data issues have been brought to the fore as part of the response to COVID-19.

Intermeddling offence: revised guidelines issued
Ogier
  • Private Client & Offshore Services
  • Jersey
  • 16 July 2020

In Jersey, it is a criminal offence to take possession or in any way administer the movable estate of a deceased person before a grant of probate has been obtained (the intermeddling offence). Her Majesty's attorney general is responsible for deciding whether to commence criminal proceedings in Jersey, including for the intermeddling offence. The need to comply with Jersey's probate requirements was underscored by the recent conviction of two financial services firms for intermeddling.

Incorporating a private company
Ogier
  • Corporate & Commercial
  • 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.

Incorporating a private company
Ogier
  • Private Client & Offshore Services
  • Jersey
  • 09 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.

COVID-19: government financial support for employers
Ogier
  • Employment & Immigration
  • 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.

COVID-19: government financial support for businesses
Ogier
  • Private Client & Offshore Services
  • Jersey
  • 02 July 2020

This article outlines the financial support available to businesses 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, the business disruption loan guarantee scheme, the COVID-19 Special Situations Fund, the deferral of social security contributions and goods and services tax payments, government rent deferrals and renegotiations and measures regarding income tax debts.

How lasting powers of attorney can help you during COVID-19
Ogier
  • Private Client & Offshore Services
  • Jersey
  • 18 June 2020

Lasting powers of attorney enable a person to appoint someone else to make decisions on their behalf in respect of their property and affairs and health and welfare. This is especially useful during the COVID-19 pandemic for people who are considered high risk and are unable to leave their homes or those who are self-isolating.

COVID-19: temporary arrangements between landlords and tenants in respect of commercial leases
Ogier
  • Real Estate
  • Jersey
  • 12 June 2020

Due to the COVID-19 pandemic, the Jersey courts are prioritising certain cases and are unlikely to deal with property-related matters. As such, the government recently issued commercial property guidance to encourage landlords and tenants to negotiate temporary compromises with regard to lease obligations in a reasonable manner if either party experiences financial difficulties arising from the pandemic.

COVID-19: temporary arrangements between landlords and tenants in respect of commercial leases
Ogier
  • Private Client & Offshore Services
  • Jersey
  • 11 June 2020

Due to the COVID-19 pandemic, the Jersey courts are prioritising certain cases and are unlikely to deal with property-related matters. As such, the government recently issued commercial property guidance to encourage landlords and tenants to negotiate temporary compromises with regard to lease obligations in a reasonable manner if either party experiences financial difficulties arising from the pandemic.

COVID-19: restructuring and corporate recovery measures
Ogier
  • Insolvency & Restructuring
  • Jersey
  • 05 June 2020

Most employees in the Jersey financial services industry are working from home and there has been no interruption to business continuity for the sector due to the COVID-19 crisis. Further, the Jersey Financial Services Commission has confirmed that while its physical premises are closed, a flexible business continuity strategy is being implemented. This article sets out potential insolvency reforms which may be implemented in the financial services sector with respect to local, regulated and international business.