Financial crime risk assessment
The Government of Jersey has published an assessment of the money laundering and terrorist financing risks associated with companies, partnerships, trusts and other similar vehicles available in Jersey.
Legal Persons and Legal Arrangements National Risk Assessment, July 2023
Jersey currently supports 11 types of entities, 7 legal persons and 4 legal arrangements, with a range of different characteristics. This first targeted risk assessment has been conducted with the assistance of the World Bank Methodology and collaborative working between the public and private sector has been fundamental to delivering this report.
The report forms part of the suite of publications available on the Government of Jersey’s website which detail the jurisdiction’s risk strategy, risk appetite and subject-matter specific national risk assessments available on financial crime strategy, appetite and national risk assessments.
Completion of the work and publication of this report is in line with action 9.1.3 of the National Strategy for Combatting Money Laundering, the Financing of Terrorism and the Financing of Proliferation of Weapons of Mass Destruction published in September 2022.
In the video below Caroline Morgan in conversation with Richard Pedley provides an introduction to, and overview of, the risk assessment
National Risk Assessment, Legal Persons and Arrangements on YouTube
Legal persons and arrangements (LPAs)
This list shows entities with their own legal personality that are available in Jersey.
Legal persons
Entities created with separate legal personality meaning they can sue or be sued in their own right.
Company
An incorporated entity which might be either public or private. It might also be incorporated with limited liability, unlimited liability (rare) or limited by guarantee.
Incorporated cell company (ICC)
Both the incorporated cell company and each cell are incorporated entities.
Protected Cell Company (PCC)
The protected cell company is an incorporated entity. The cell itself does not have separate legal personality to the Protected Cell company.
Limited Liability Company (LLC)
A hybrid entity, combining characteristics of a company and a partnership while offering limited liability to investors.
Not to be confused with a company with limited liability.
Limited Liability Partnerships (LLP)
A partnership which has separate legal personality and in which the partners benefit from limited liability.
Incorporated Limited Partnerships (ILP)
A body corporate with separate legal personality to its partners.
Separate Limited Partnership (SLP)
An unincorporated partnership with separate legal personality
Foundation
An incorporated entity with separate legal personality, established for objects which may be purposes or beneficiaries.
Incorporated association
Incorporated associations are incorporated by an Acte of the Royal Court of Jersey.
Legal arrangements
Arrangements recognised in law but which are controlled and or operated by another legal person or natural person.
Express trust
Legal arrangement normally governed by a trust deed/instrument.
What is a trust
Fidéicommis
Fidéicommis is a trust-type, but contrary to a trust, it may own immovable property in Jersey and is recognised by an Acte of Court of the Royal Court of Jersey.
Limited partnership
A partnership made between general partners with unlimited liability and limited partners, whose liability it limited to their contribution.
Customary law partnership
A partnership between two or more persons to carry on business, for a lawful trade or business, or hold an asset in common to share between them the profits and losses.
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