Jersey Foundations Law to prompt surge in business

Giles Corbin, partner at law firm Mourant du Feu & Jeune, believes the Foundations (Jersey) Law 2009 will have a positive impact on the island's financial services firms and attract new business from other jurisdictions such as Liechtenstein and Panama. The law, which comes into force today, will permit the establishment of Jersey foundations, which will be incorporated bodies that can hold assets, transact business and sue and be sued in their own name. A Jersey foundation blends features of Jersey companies and trusts and can be regarded as an incorporated trust. However, the law i...