The private trust company is a useful and increasingly popular vehicle for planning and establishing trust structures for wealthy families. It is often preferable to options such as the reservation of powers by the settlor, or involving a third party in the role of protector.
Our international private client practice regularly advises on establishing private trust companies in Jersey and Guernsey as jurisdictions of choice. Jersey’s and Guernsey's advantages include:
- favourable regulatory treatment, with no registration or licence fee
- no prescribed minimum paid in share capital for the private trust company
- no requirement to name the trust or trusts in the constitutional documents of the private trust company
- no requirement to disclose the trust instruments to the regulatory authorities
- the established reputation of Jersey's and Guernsey's trust industry, and the favourable provisions of the Trusts (Jersey) Law 1984 and the Trusts (Guernsey) Law 2007, which both include the ability to create trusts of unlimited duration
- the repeal of the former statutory guarantee liability applicable to the directors of corporate trustees
- the convenience of Jersey's and Guernsey's time zone
We consider Bedell Cristin to be one of the top legal service providers in this field of practice."
Chambers Research 2013