New Limited Liability Company (LLC) legislation, which is
anticipated to significantly enhance Jersey's proposition as a
leading jurisdiction supporting US alternative fund managers, was
officially approved by the Government of Jersey today.
The law, which enters into force on 14 February, expands
Jersey's existing comprehensive suite of private fund vehicles,
adding a new structure that is intended to be familiar to US
private equity, venture capital and other alternative fund
professionals.
Benefitting from a simple registration process and flexible
governance requirements, the Jersey LLC, which will have separate
legal personality and can be classed as a 'body corporate',
is expected to offer a number of key opportunities, including being
used for issuing securities, as a manager vehicle, and as a fund
entity in conjunction with the hugely successful Jersey Private
Fund (JPF) regime.
