Jersey Foundations

The Foundations (Jersey) Law 2009 (the "Law") introduced a new type of entity, the foundation, into Jersey's legal landscape in 2009. This note is a brief summary of the Law.

A foundation is similar to both a company and a trust in certain respects. It resembles a company in that it is a body corporate (albeit one without shareholders) and is governed by a council in accordance with its charter and regulations in much the same way that a company is managed by its board of directors. It is akin to a trust in that a foundation must have one or more objects which may be a purpose (charitable or non-charitable) and/or be for the benefit of one or more beneficiaries.

Although it shares these characteristics, a foundation is neither a company nor a trust. It is best described as a distinct legal structure which has been introduced to serve different purposes. Some of the key features of a Jersey Foundation are as follows: