Member News - TAGLaw

Voisin and Volaw (Jersey) recently hosted a wealth management event for Zurich’s financial community on Jersey’s new Foundation structure. The event was hosted in conjunction with Geneva Group International, of which Volaw are members.

Over 70 guests assembled in the Petit Palais of the prestigious hotel to hear from Partners, Directors and senior personnel from Voisin and Volaw on the legal and structural aspects of the Jersey Foundation. A champagne reception followed the presentation in the beautiful surroundings of the Salon room.

The Jersey Foundation is an entirely new type of Jersey legal entity and is designed to blend the highly attractive features of both Jersey companies and Jersey trusts, providing an alternative financial planning vehicle for wealth management and charitable purposes. It has been modelled on the best features of Foundations offered in other jurisdictions, while also including unique Jersey elements. Jersey Foundations allow the founder the maximum possible freedom of choice whilst at the same time ensuring that the structure is not susceptible to abuse for money laundering or terrorist financing purposes.

Nigel Pearmain, a partner in Voisin’s Private Client department, said: “We were impressed at how much interest our presentation generated, with our expectations exceeded on the number of people attending.  Some very interesting questions and issues were raised at the presentation and the subsequent cocktail event, demonstrating a genuine interest in utilising this exciting new Jersey structure.” Mark Healey, director of Volaw, added: “As a result of our event, we believe that the attendees have been persuaded of the advantages the new Jersey Foundation offers to the Swiss financial industry as an alternative to less flexible structures offered in other jurisdictions. We have met some very interesting people, and will be following up on some leads”.

This is the first time that Voisin and Volaw have held such an event in Switzerland, from which it is hoped that many new business links can be forged with the Swiss financial community. Many thanks go to our friends at Geneva Group International for their invaluable help in organising this event!