AIFM Directive Why is Jersey partof the solution?
KEY BENEFITS• A tax neutral environment, for both direct and indirect taxes• An unparalleled choice of corporate, partnership and trust• vehicles allowing appropriate tax treatment to be obtained in the hands of the investors• A regulatory framework that has evolved specifically for the alternative asset classes and has been independently verified as being robust and effective• A respectable, globally regarded reputation that has recently received positive reviews by the OECD, IMF and British Crown Dependencies (Foot) Review• High standards of regulation and stability ensuring no fund or bank failures during the recent crisis
REGULATORY FRAMEWORK• First offshore centre to become a full signatory of the IOSCO multi-lateral treaty• Rated as one of the best international finance centres globally by the IMF in September 2009 (see table below)
GLOBAL RESPECTABILITY• One of the first centres to be placed on the OECD “white list” more rapidly than many countries• The IMF have graded Jersey as being one of the highest rated in terms of Anti- Money Laundering provisions, supervision and enforcement• Jersey is a vice-chair in the OECD Peer group review which evaluates policies and regulation
TAX NEUTRALITY• Funds, feeder funds and carried interest are not subject to direct or indirect taxes during establishment, maintenance or winding up• There is no corporation tax, income tax, capital gains tax or withholding taxes, simplicity and certainty prevail• There are no value added taxes and therefore investment funds are not subject to complicated irrecoverable VAT on acquisition costs or ongoing administration
VEHICLES & SERVICE PROVIDERS• Provider of companies, protected and incorporated cell companies• Partnerships, limited partnerships incorporated partnerships and separate limited partnerships• All service providers are regulated and a large choice of custodians (depositaries), administrators, accountants and other functionaries are available• Extensive management, administration, audit and legal experience in Private Equity and Real Estate with growing capability in Hedge, Mezzanine, Carbon• Trading and Sustainability
GOVERNMENT & INDUSTRY• Actively engaged in a constructive manner on all developments relating to the AIFM Directive• Actively influencing and informing the debate around passporting for third countries that meet equivalence standards in line with international norms
“JERSEY HAS A REGULATORY FRAMEWORK THAT HASEVOLVED SPECIFICALLY FOR THE ALTERNATIVE ASSETCLASSES AND HAS BEEN INDEPENDENTLY VERIFIED AS BEING ROBUST AND EFFECTIVE”