The Middle East: Bespoke Structuring On The Rise

Jersey is seeing an increasing demand from Middle Eastern families and from those who advise them for more bespoke private wealth structuring designed to preserve and safeguard family wealth for the benefit of future generations. Often there is also a demand for Sharia compliance in whole or in part. In addition a desire for more control and participation to be vested in the family and second and third generation beneficiaries. This has led to an increase in the use of reserved powers in trusts notably with regard to investment and, for very wealthy families, the creation of private trust companies.

Bedell Cristin has advised and drafted the constitutional documents for three substantive private trust companies for Middle Eastern families in the past six months. These have had similarities but for the most part have been specifically drafted so as to meet the client's particular structuring requirements.