What is a Jersey foundation?

The foundation is a civil law concept and is a creature of statute under Jersey law introduced by the Foundations (Jersey) Law 2009 (Law).

A foundation can best be described as a hybrid having the characteristics of a company, but operating for a similar purpose to that of a trust. It is similar to a company in that it has separate legal personality and has a council to administer its business, just like a board of directors. However, unlike a company, a foundation does not have shareholders and, unlike a trust, there are no beneficiaries who have an interest in the foundation’s assets or who are owed a fiduciary duty. Consequently, a foundation does not have any owners and is regarded as an ‘orphan entity’.

Use of foundations

A Jersey foundation can be utilised for virtually any legal purpose, save for two which are specific to Jersey’s public policy and jurisprudence. Typical uses of foundations include: