- Jersey Finance
- |11/12/24
Jersey: A Gateway to Europe for South Africa Fund Managers
For decades, Jersey has set itself apart as a reputable, centrally located jurisdiction for investors from key global markets. Jersey provides excellent third country access to the EU market through the use of NPPR to non-EU countries.
4 May 2023
Direct access to UK and EU capital
Future-proofing in view of Brexit
Six weeks to set-up
Limited remuneration disclosure
A recognised path
A Global Hub
Speed to Market
The process, including regulatory applications and approvals, takes weeks not months, with the regulator committing to approve this type of fund launch in six weeks.
Cost effectiveness
offers better returns: Jersey’s streamlined regulatory regime can result in lower running costs and higher investor returns in a jurisdiction free from value added tax (VAT).
Regulatory certainty and innovation
The JFSC is an approachable, globally respected and co-operative regulator, supervising pragmatic regulation that meets international standards (the International Monetary Fund, the International Organisation of Securities Commissions, the European Securities and Markets Authority and the Financial Action Task Force).
Tax simplicity
Jersey offers a tax-neutral environment with no VAT or capital gains tax (CGT) and is not reliant upon a complex system of tax rulings, exemptions and deductions, hybrid financing or double tax treaty networks.
Political and economic stability
Jersey is a politically and fiscally autonomous and stable British Crown Dependency with a secure, special relationship with the United Kingdom
(UK), but outside of the UK and outside of the EU. We are therefore perfectly positioned post Brexit, as the UK and EU work through the semantics of their new Trade and Cooperation Agreement and become accustomed to their new working arrangements, and beyond.
Remuneration
To obtain a full AIFMD ‘passport’ in Europe, the manager is required to disclose remuneration details of key employees including partners. If a manager does not need to market on a pan-European basis, there is no great benefit to an AIFMD passport and a lighter approach is permissible under the NPPR.
Assets under administration in Jersey
Jersey AUA up 73% over the past five years. Source JFSC (December 2021).
South Africa promoters = the seventh biggest source of assets by promotor origin
Contact us
Elliot is focussed on defining the strategy and execution of marketing Jersey as both a domicile and destination for hedge and private equity management companies and funds based in the UK, US, Switzerland and Europe.
Based in Johannesburg, Rufaro’s primary focus is developing the strategy for Jersey Finance’s engagement in the South African market. She also plays a vital role in supporting the organisation’s wider activity across the continent. With more than 20 years of experience in wealth management (private banking and financial planning) across Southern and West Africa, her most recent role was with Nedbank Wealth Management in South Africa.
