Jersey reinvents itself to take on the competition

offshore

The Ucits directive has reduced the prominence of offshore centres as domiciles for retail funds, but Jersey has responded with new legislation to attract funds and investors

For over 40 years Jersey has been one of the world's leading international offshore finance centres, attracting institutions and investors with its appropriate but not intrusive regulation and benign tax regime. In addition to banking and fiduciary services, investment management and investment funds have been key sectors in this industry. For many years the investment funds industry in Jersey consisted almost exclusively of retail funds in the traditional long equities, bond and money market sectors. Given its significance, it is perhaps not surprising that Jersey was one of the first in...