Jordans' clients requiring offshore trust services can benefit from the services of Jordan Trustees (Jersey) Limited. This company delivers a flexible and responsive trust service that meets the needs of a wide range of clients. The trust services available include discretionary trusts, fixed interest trusts, accumulation and maintenance trusts and revocable trusts.

Jordan Trustees (Jersey) Limited are licensed to provide trustee services in Jersey. This involves a rigorous vetting of a licensee’s office systems and procedures, its senior management’s probity and professional qualifications; and its professional indemnity insurance cover and solvency margins, all of which must meet strict criteria under Jersey law and regulation.

Jersey as a trust jurisdiction – an overview

The Jersey law of trusts is contained principally in the Trusts (Jersey) Law 1984 as amended by subsequent legislation. It embodies traditional trust principles developed by English law. Where Jersey law is silent on an issue relating to a Jersey trust, or where there is no judicial authority in Jersey to cover the matter, then the Jersey courts will refer to English and Commonwealth case law for guidance.

In Jersey, there are no separate courts of law and equity. But this does not mean that an equitable jurisdiction does not exist. The courts have referred to their “equitable” jurisdiction, and Jersey’s Royal Court has expressly confirmed this. Clients can therefore have confidence that, in appropriate circumstances, the courts will be flexible in their interpretation of the law to ensure natural justice is done.

Jersey trust law is also flexible, for example:

• the dispositive provisions of a trust may be written in any way and provide as much flexibility as is required for the full range of trusts, from fixed interest trusts to discretionary trusts

• the settlor may retain appropriate and carefully defined powers over the trust, including the power to revoke or vary the trust

• the terms of a trust can provide for the settlor - or any other person - to have the power to remove trustees

• the trust may include a “migration” clause enabling the proper law of the trust to be changed from Jersey to another offshore jurisdiction.

• income arising to the trust has a non-Jersey source
• all the beneficiaries of the trust are non-residents of Jersey
• by concession, Jersey bank interest paid to Jersey trustees is also exempt from Jersey taxation, where all the beneficiaries of the trust are non-residents of Jersey.

• Avoidance of probate procedures and forced heirship regimes
• Provision of tax-efficient employee benefits
• Accumulation of a tax-free gross fund for the benefit of wealthy families
• Consolidation of assets
• Succession and tax planning
• Protection of assets from illegitimate seizure or sequestration
• Strengthening the claims of offshore residence status for companies through offshore trust ownership of company shares.