2. Jersey Companies Registry
• The Jersey Financial Services Commission is responsible for the
regulation, supervision and the development of the financial
services industry in the Island.
• The Commission is a statutory body corporate, set up under the
Financial Services Commission (Jersey) Law 1998. The Law
provides for a Board of Commissioners to be the governing body of
the Commission.
• The Law established the Commission as an independent body,
fully responsible for its own regulatory decisions. The Commission
is accountable for its overall performance to the States of Jersey (the
Government of Jersey) through the Economic Development
Department.
• The Commission is also responsible for appointing a person(s) to
exercise certain statutory responsibilities as the Registrar of
Companies
• The Commission has appointed the Director General of the
Commission as the Registrar.
3. Holding companies
• United Company Rusal plc - Aluminium
• Glencore International plc– Commodities
• Cape plc- Industry services
• Blackrock (BR Jersey International holdings
L.P.) – Finance industry
• Shire plc – Pharmaceuticals industry
4. Why Jersey
• Good IMF assessment
– 44 out of 49 FATF principals;
– 15 out of the 16 key core principals;
– Principals 33 and 34 compliant and largely compliant
• Supervise formation agencies
• Collect company beneficial ownership details centrally
• Flexible Company Law (Anglo Saxon)
5. Purpose of Jersey Hold Co
• Reduce operating costs;
• Reduce total tax liability;
• Remain competitive in their particular
sector;
• Improved corporate governance ,
transparency and financial reporting
6. Basic Hold Co structure
• Jersey Hold Co plc set up;
• Scheme of arrangement through Court for
Jersey company to take over the
ownership of underlying company;
• Jersey company issues prospectus;
• Jersey company shares listed.
