Jersey businesses should be aware of changes arising from the EU's General Data Protection Regulation.
The purpose of the proposed new Capacity and Self-Determination Law is to provide a legal framework for assessing whether a person has capacity to make a decision if they are supported by family members, carers and other professionals.
This Order came into force on 26 September 2016 and extends the scope of the Money Laundering (Jersey) Order 2008 to virtual currency exchange businesses and adds to a suite of legislation regarding virtual currency in Jersey.
The Channel Islands Securities Exchange (“CISE”) has recently released an updated version of its listing rules.
On 23 November 2016, as part of the Autumn Statement, it was confirmed that from April 2017 UK inheritance tax will be charged on UK residential property which is held indirectly by a non-domiciled individual through an offshore structure.
On 1 November 2016 the States adopted the Limited Liability Partnerships (Jersey) Law 201-. The Law, which awaits Privy Council approval, replaces the Limited Liability Partnerships (Jersey) Law 1997 and aims to make the Jersey Limited Liability Partnership (“LLP”) a more competitive vehicle.
Businesses and companies in Jersey will have today received many new consents issued under the Control of Borrowing (Jersey) Order 1958.
Pinel Advocates is delighted to announce the addition of former Jersey Probate Registrar, Michele Laurent, to its team.
Pinel Advocates recently welcomed a lawyer with commercial property expertise to its team, continuing the successful growth of the business.
As of 1 January 2017, new fees will apply to the Jersey Companies Registry.
Pinel Advocates has been praised for its work in Financial and Corporate and Investment Funds by the 2016 edition of the IFLR 1000 legal rankings.
Reforms to the taxation of non-UK domiciles are expected to be implanted prior to 6 April 2017.
The Channel Islands Securities Exchange has recently revised its membership and listing rules.
Consultation on new Funds Section to AML/CFT Handbook.
Proposed rationalisation and consolidation of Jersey's Private Fund and Unregulated Fund regimes
Are your Powers of Attorney valid under Jersey law?
The draft Limited Liability (Jersey) Law 201- would replace the Limited Liability Partnerships (Jersey) Law 1997 and aims to make the Jersey LLP more competitive so that it is used as a vehicle of choice for local and international businesses.
Inaugural Annual Conference to be held today in Jersey.
Charities (Jersey) Law 2014 (the “Law”)
I run a Charity – what do I need to do?
The Law has introduced a test for what constitutes charity, it has established a new position of a Charity Commissioner and created a new body – the Charity Tribunal.
How am I affected by the Law?
At this stage, only the parts of the law relating to the establishment of a ‘Charities Test’ and the position of the Charity Commissioner have been enacted. There is currently little impact on existing charities.
Do I need to register as a charity on the new charities register?
If you are a charity already established in Jersey, happily there is no obligation for you to become a registered charity under the Law. Charities can continue to operate under the existing customary law provisions.
However, once the parts of the Law relating to the charities register have come into effect, only a charity registered under the Law can refer to itself as a charity and receive tax relief as such. If your charity wants to accept contributions from the general public, wishes to take advantage of tax exemptions or simply wishes to continue to refer to itself as a charity, then you should register once the applicable provisions of the Law come into force.
What should I do next?
If you do want to become a registered Jersey charity, and do not simply want to continue to operate under the existing customary law, then you should prepare a purpose statement, a public benefit statement, review your constitutional documents to ensure they will comply with the new charity test, and finally, review any accounts to be filed for and on behalf of your charity.
The private equity and venture capital summit will be held at the Landmark Hotel in London on 5 and 6 October 2016.