Jersey Cell Companies

In July 2005 the States of Jersey approved the Companies (Jersey) Law (Amendment No.8) (the "Amendment"). The legislation changed in February 2006. A key purpose of the Amendment is to introduce cell companies into Jersey law.

Protected cell companies (PCCs) were first developed in Guernsey in the late 1990s. Originally to attract captive insurance work to Guernsey, they proved popular and versatile, and were soon found to be a useful vehicle in collective investment fund structures. Other jurisdictions, including the Isle of Man, Cayman Islands and Dublin, have recently followed suit with legislation based upon the Guernsey model.

The Amendment builds upon the legislation in these other jurisdictions to introduce two new vehicles: the Jersey PCC, a "second generation" PCC that represents the first significant advance from the PCC model developed in other jurisdictions; and the Incorporated Cell Company (ICC), a truly innovative new corporate vehicle that offers an unmatched