What is a Foundation?
Foundations to be established under the Foundations (Jersey) Law
2009 (the "Law") are vehicles for holding assets. They
will be incorporated and therefore have separate legal personality.
Foundations must be established with one or more objects. With the
sole caveat that the objects must be lawful, they can be
charitable, non-charitable or a mixture of both. Permissible
objects might include, for example, benefiting a particular person
or class of persons or carrying out a specific purpose or holding a
particular asset.
A Foundation's powers will be exercised by its Council,
which is similar to a company's board of directors. The Law
will require however that at least one Council Member is registered
under the Financial Services (Jersey) Law 1998 (the
"FSL") to carry on foundation services business of this
type (the "Qualified Member"). A further requirement of
the Law is that every Foundation has a Guardian. The main job of
the Guardian will
