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Jersey Private Funds (JPFs)

Jersey Private Funds (JPFs)

Experienced in the establishment of Jersey Private Funds for Real Estate and Private Equity structures. We work with Fund Managers in the start-up phase and Family Offices, providing secretarial and corporate governance support as per the specific requirements of each client.

Fund Services, Private Funds, Real Estate Funds, Investment Funds & Family Office Funds

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We work closely with our clients and their advisors to set up the most suitable structure for their requirements, ensuring that all formalities are dealt with promptly so that formation occurs within agreed deadlines. Where vehicles within the JPF structure need to be established outside of Jersey, we can assist with this too.

Jersey Private Funds - How Fiduchi can help

Following establishment, we can act as the Designated Service Provider (DSP) and will tailor the extent of any additional services to the requirements of each particular client. As part of this service we will organise capital calls and distributions, monitor inflows, oversee payments, monitor and reconcile bank accounts and liaise with auditors as appropriate. In addition, we can provide bookkeeping and accounting services in-house and can provide periodic investor reporting as well as full annual financial statements.

Why you should choose Fiduchi for Jersey Private Funds: 

  • We focus on funds with private equity or real estate investment strategies that are closed-ended Jersey Private Funds;
  • Supporting start-up fund promoters or managers looking to establish smaller funds that might be considered sub-threshold for larger institutional fund administrators;
  • Working with Family offices looking for lighter touch regulatory wrappers or entering co-investment or club deals with other families or investors;
  • Delivering director-led relationships focussed on excellent client service who take responsibility for all aspects of the administration of the fund, giving you a single point of contact.

What is a Jersey Private Fund?

A ‘Jersey Private Fund’ (JPF) is a simple and highly flexible fund product that will be of interest to promoters who are looking to launch funds under a lighter touch regulatory regime that provides certainty, flexibility and speed to market. 

Key features of a JPF: 

  • Up to 50 investors; 
  • Fast-track 48 hour regulatory approval; 
  • No prior approval of promoter; 
  • Offering documents permitted, not required; 
  • Investment warning & disclosure statement signed by investors;
  • Professional or eligible investors (min £250,000); 
  • Must appoint a Jersey regulated Designated Service Provider.

Alternative Investment Fund Managers Directive (AIFMD)

The AIFMD regulates all funds that market into the EU irrespective of the domicile of the manager. While Jersey managers are beyond the full compliance of AIFMD, they have ready access to investors within the EU through NPPRs. However, Jersey is well-primed to receive the passport should it be extended to third countries, having been positively assessed by the European Securities and Markets Authority (ESMA) – the agency that governs AIFMD. 

National Private Placement Regime (NPPR)

Jersey funds are marketed to EU investors in Member States via NPPRs, an alternative route to the AIFMD passport. This route is working extremely well and has been tried and tested in key alternative funds markets such as the UK, Netherlands, Ireland and the Nordic countries. NPPRs offer: 

  • Simplified regulatory obligations; 
  • Familiarity outside the AIFMD for non-EU investors. 

Why Jersey for Funds?

A Leading Funds Jurisdiction

Jersey has more than 50 years’ experience in structuring, managing and administering funds. The last five years has seen the number of Jersey-based promoters almost double. 

Jersey offers exceptionally high standards of service and governance. It also has a large pool of expertise, including a wealth of professional non-executive directors with extensive knowledge of funds across a variety of asset classes. 

A Global Hub

  • Cost effectiveness offers better returns: Jersey’s streamlined regulatory regime can result in lower running costs and higher investor returns in a jurisdiction free from value added tax (VAT). 
  • Regulatory certainty and innovation: The JFSC is an approachable, globally respected and co-operative regulator, supervising pragmatic regulation that meets international standards (the International Monetary Fund, the International Organisation of Securities Commissions, the European Securities and Markets Authority and the Financial Action Task Force). 
  • Tax simplicity: Jersey offers a tax-neutral environment with no VAT or capital gains tax (CGT) and is not reliant upon a complex system of tax rulings, exemptions and deductions, hybrid financing or double tax treaty networks. 
  • Political and economic stability: Jersey is a politically and fiscally autonomous and stable British Crown Dependency with a secure, special relationship with the United Kingdom (UK), but outside of the UK and outside of the EU. We are therefore perfectly positioned with regards to Brexit developments. 
  • Remuneration: To obtain a full AIFMD ‘passport’ in Europe, the manager is required to disclose remuneration details of key employees including partners. If a Non-EU Manager does not need to market on a pan-European basis, there is no great benefit to an AIFMD passport and a lighter approach is permissible under the NPPR. 

Our fund services include

Fund Formation: 
  • Establishing the JPF in whichever form, be it a trust, company or partnership structure; 
  • Coordinating the drafting of relevant fund documentation with legal, tax and other relevant advisors; and
  • Arranging the set-up and operation of bank and custody accounts. 
Fund Administration & Accounting: 

Maintaining the books, records and accounts of the fund: 

  • Preparing the net asset valuation calculations, with frequency ranging from quarterly to annual; 
  • Reconciling the fund’s portfolio and bank accounts with respective brokers, banks and/or custodians; 
  • Coordinating with relevant specialists to value the underlying assets of the fund; 
  • Calculating all fees and accruals, including management and performance fees; 
  • Operating the fund’s bank account, providing bank signatories as required; and
  • If necessary, co-ordinating the audit process, preparing draft financial statements and liaising with auditors.
Investor Relation Services:
  • Maintaining share, unit and partnership registers;
  • Processing of all investor related transactions, including subscriptions, redemptions, transfers, capital calls, trades and distributions;
  • Monitoring compliance with fund documentation in regard to notice periods, minimum investment amounts and fee payments;
  • Collecting and verifying customer due diligence (CDD) and know your client (KYC) documentation; and
  • Reporting and other communications with investors.
Corporate Secretarial Services:
  • Providing company secretarial and registered office services;
  • Maintaining the statutory records and minute books;
  • Attending to all statutory filings;
  • Arranging for payment of annual fees to local registrars and regulators;
  • Preparation for and attendance at board, shareholder and partner meetings and taking of minutes; and
  • Arranging for the execution of board and shareholder resolutions.
Designated Service Provider:
  • Ensuring compliance with all necessary Jersey AML/ CFT requirements;
  • Ensuring all documents relating to due diligence enquiries are readily retrievable in Jersey;
  • Completing and submitting the JPF Form and the JPF Return; and
  • Notifying the JFSC of any material changes.

Additional fund services

Although we do not give tax advice, we work with a network of advisors to allow our structures to fulfil their filing and tax obligations – this would include the compilation and submission of quarterly and annual returns as well as CRS, FATCA and Country-by-Country submissions. Where requested we can provide Jersey-resident directors and we offer full administrative and secretarial support so that each meeting of the JPF will be supported by the provision of timely, comprehensive information packs prior to the meeting, followed by detailed minutes and action plans post meeting.

Further information

The JPF Guide can be downloaded from the JFSC’s website.

Testimonials

"THANK YOU TO OUR GUARDIANS!

I would like to extend a BIG thank you to the Fiduchi team for taking such good care of me and my business. It's reassuring to know that there are some guardian angels out there to look after us."

Founder & CEO - SUPERLUXE Events

"Thank you very much for your professional assistance (and patience) in helping us transfer our shares and assets into the new Trust. I know that it has taken longer than expected. Still, your professionalism and continued support have helped us achieve the desired outcome."

Chairman and CEO

"My sincere thanks for the assistance you have provided the advisory committee by coordinating directly with the charity to formalise an agreed donation plan."

Private Client (Charity)

"Many, many thanks for your hard work and speed at setting up our client's Private Investment Company in just 24hrs! Your flexibility and communication throughout the whole process have been appreciated, and the feedback has been tremendous......

Thank you."

Major UK Law Firm

"Thank you, everyone, for delivering this significant re-structure to our family assets and within a very tight timeframe.

Great to get this finalised!"

Mr. C - Private Client

"THANK YOU TO OUR GUARDIANS!

I would like to extend a BIG thank you to the Fiduchi team for taking such good care of me and my business. It's reassuring to know that there are some guardian angels out there to look after us."

Founder & CEO - SUPERLUXE Events

"We consider Fiduchi an important strategic partner of ours. Over the years they have proven themselves to be professional and extremely thorough. Combined with this professionalism, they are always a pleasure to deal with and we are pleased with their service levels."

Mr. P.E, Managing Director, W Ltd.

"We consider Fiduchi an important strategic partner of ours. Over the years they have proven themselves to be professional and extremely thorough. Combined with this professionalism, they are always a pleasure to deal with and we are pleased with their service levels."

Mr. P.E, Managing Director, W Ltd.

“I am very impressed with the professionalism and efficiency Fiduchi Limited demonstrated during the establishment of our employee benefit trust. They coordinated the process seamlessly and provided us with valuable advice and guidance to ensure compliance with our regulatory and legal responsibilities. Throughout my engagement with the team, I have found them to be approachable and easy to work with.”

Mr. P.B. FE Ltd.

"Thank you for helping us with the establishment of our real estate fund."

Startup Fund Manager

"Thank you so much for helping my client register their vessel with the Red Ensign Group and all the other advice and support you provided!"

Trusted advisor to Yacht Owner.

"Fiduchi's yacht team provides a first-class service! In particular with assisting us with our crew banking requirements and payroll services. Whenever we need assistance, they are just a phone call away!"

Superyacht Captain

Our online share plan platform allows for the easy administration of a large range of employee plans including: LTIPs, EMIs, CSOPs, SIPs & SAYE plans.

Key features of our online share plan platform

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Web enabled, 24/7 access to all plan information for company stakeholders

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Information updated in real-time

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Ability to view and filter all participants 

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Access to suite of pre arranged, Business Intelligence reporting

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Complete management oversight and control for company

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Ability to create and schedule your own reporting 

"Fiduchi's Online Share Plan Administration portal, has saved time, money and paper, and [it] allows us to become more efficient in the managing of our employees share awards. It's really fantastic what an impact this platform has made."

Micheal S
Head of People - Tech startup company.

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Easy Onboarding

Onboarding of your data to our online platform is easy regardless if you choose a fully-managed or self-service in-house solution. By making the switch to our platform, you can upgrade from having to manage your share plan data on complicated spreadsheets. Plus to make the process as simple as possible, our experts will guide you every step of the way and we also provide helpful guides.

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Global Compliance

For businesses who opt for our fully managed solution, our platform is able to deal with each business's unique requirements. When it comes to dealing with exact legal and regulatory issues, our platform will be able to automatically determine the actions required for each award or vesting, specific to the country in which the company operates. Therefore minimising the risks and allowing full compliance from a legal and regulatory position.

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Data Security

Our platform uses the highest standards to protect the valuable data and assets we hold on behalf of our clients. We have a team of in-house cyber security and IT professionals to protect our system and carry out security audits, due diligence, penetration testing and to oversee potential threats. We are fully regulated, accredited and certified by a range of statutory and non-statutory bodies including the US Department of Commerce’s Privacy Shield.

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Branded User Portal

Our platform can be branded to match your company's own brand, therefore becoming a professional extension of your employee benefits. You can set role-based access and let your employees and shareholders log into their own online branded share platform anytime, anywhere and see exactly what shares they have and how much they are worth. They can also easily accept grants, exercise options, calculate potential payouts and more.

Find out more - Call us >

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Contact one of our professionals below:

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Want to know more about our Private Wealth services?

Our experienced Private Wealth and Family Office teams are here to answer any questions you may have. With a wealth of knowledge and expertise, they will be able to advise you on right solutions to meet your needs. You can rest assured that core to the Fiduchi principles are how your interests should best be met.

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Want to know more about our Fund services?

Our experienced Funds team are here to answer any questions you may have. With a wealth of knowledge and expertise, they will be able to advise you on right solutions to meet your needs. You can rest assured that core to the Fiduchi principles are how your interests should best be met.

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Want to know more about our Yacht services?

Our experienced Yachts team are here to answer any questions you may have. With a wealth of knowledge and expertise, they will be able to advise you on right solutions to meet your needs. You can rest assured that core to the Fiduchi principles are how your interests should best be met.

Call our Yachts team on: +44 1534 755155

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Find out how we can help with your employee incentive plan below

Our experienced employee services team are here to answer any questions you may have regarding all types of employee incentive plans. With a wealth of knowledge and expertise, they will be able to advise you on the best solution that meets your business needs.  

You can telephone our employee incentives team on: +44 7797 831 648 or +44 7415 918 046

Alternatively, you can sen them a message directly below:
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