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Jersey

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Editorial

Jersey has a high-quality legal sector, with clients able to choose from multi-jurisdictional and full-service firms or smaller boutiques. While many of the larger firms continue to expand or consolidate their offerings throughout the offshore world, the trend for new start-ups on the island continues, with smaller firms and sole practitioners looking to offer a conflict-free model.

The most recent example of this trend is employment specialist firm Callington Chambers, which was set up by Vicky Milner in late 2013. This followed the establishment of independent boutiques David Benest Law and Lacey Advocates earlier in the year.

A major move on the divestment front saw Ogier sell its fiduciary business. This reflects the general change in the relationship between many offshore law firms and their associated services companies, and follows the sale of Mourant Ozannes’ administration arm in 2009 prior to its merger, and Walkers’ sale of its trust company to Intertrust in 2012.

Although the BVI and Cayman Islands have historically been more popular choices for the Asian markets, many firms reported an increase in interest from Asian clients. The broad office network of many firms provides particular advantages for those multinational clients looking for advice on the most suitable offshore jurisdiction for a particular transaction. These firms are well placed to provide a seamless cross-border service, co-ordinated through one point of contact.

The steady uptick in new-money transactions continued, with a number of new deals originating from emerging markets. The Capital Economics report, commissioned by Jersey Finance in 2013, which highlighted Jersey’s importance to the UK economy, investigated the sources of wealth (in banks, trusts and funds) and found that most of the ultimate beneficial owners are not domiciled in the UK. The number of non-EU beneficial owners is of particular note, with many located in the Middle East and Asia Pacific, with the UK often being the ultimate recipient of investment.

With its close connections to the UK, it comes as no surprise that the relative buoyancy in the UK commercial property sector has led to a corresponding uptick in work making its way to Jersey. Also of significance is real estate activity on the island itself, with a number of high-net-worth individuals and families moving to the island and creating real estate work and high levels of activity in the leasing space together ensuring a busy year for many law firms’ property departments.

In the funds space, major stories include the increase in the number of new real estate funds being structured through Jersey, which created work for those firms with expertise in this area. Also of note is the ongoing increase in hedge fund work, an area where the Cayman Islands traditionally dominate, particularly as hedge fund managers consider relocating to the island. On the whole, however, it is in private equity and real estate that the most growth is anticipated, with the former also being of notable significance in terms of transactional work in 2013.

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Legal Developments in Jersey

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Modernisation of Jersey’s pensions law

    Modernisation of Jersey’s pensions law
  • Jersey Opens the door to QROP’s

    Jersey opens the door to QROPs
  • Jersey Legislation Overview

    Jersey Legislation Overview
  • Civil Liability for Breaches of the Codes

    Civil Liability for Breaches of the Codes
  • AML Update: Review of 2014 amendments to the substantive offences

    AML Update: Review of 2014 amendments to the substantive offences under the Proceeds of Crime (Jersey) Law 1999 
  • The New Charities Law - a bright new dawn

    As of Friday 21 November 2014, the new Charities (Jersey) Law 2014 (the " Law ") (or at least certain parts of it) came into effect.  This represents a quantum leap forward for Jersey in the charity field.  The Law has introduced a new test for what is charitable (the " Charity Test "), has introduced the post of a Charity Commissioner and a Charity Tribunal, and in time will introduce standards that those who run charities in the Island will have to abide by.  It is hoped that the Law will enable the Island to flourish as a centre for the administration of charitable and philanthropic structures.
  • New Managed Account Regime for Jersey Hedge Fund Managers

    An exemption which will enable Jersey-regulated fund managers to be appointed in relation to managed accounts has now been introduced.  This will enable hedge fund managers that are already regulated under the Financial Services (Jersey) Law (FS Law) in Jersey to carry out fund services business (FSB) to also service qualifying segregated managed accounts (QSMAs) without the need to seek additional regulation for the conduct of investment business under the FS Law.
  • The Security Interests (Jersey) Law 2012: Changes to Jersey's security regime

    On 2 January 2014, the Security Interests (Jersey) Law 2012 came into force in respect of Jersey law security over intangible movable property (e.g. shares/securities, bank accounts and custody assets).  The new law replaces the Security Interests (Jersey) Law 1983 (which was in force for the last three decades) and introduces a number of important changes which modernise Jersey's security regime.
  • Exclusive and Inherent Jurisdictions: to boldly go where no Court has gone before?

    On 26 November 2014, the Privy Council delivered judgment in the long-running case of Crociani & Others v. Crociani & Others [2014] UKPC 40 .  The case is of interest to trustees because it provides conclusive and binding guidance on the treatment of exclusive jurisdiction clauses in trust deeds.  However, it also raises questions as to the fundamental nature of the inherent supervisory jurisdiction of the Royal Court in connection with trust matters, and whether it is in fact broader than previously thought.
  • Accessing EU Institutional investor capital

    Luxembourg is one of the largest global investment fund domiciles, benefiting from the following factors:

Press Releases in Jersey

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to