We are an independent global specialist in the administration of traditional funds and alternative assets with a particular specialism in private equity and real estate.
CRS & FATCA
We can support your fund through its entire lifecycle and the growth of your business. We provide a comprehensive range of private equity solutions delivered from key onshore and offshore jurisdictions to leading companies investing in a broad range of industries.
Our Fund Services Division has a proven track record in providing a broad range of fund services where the asset class is real estate.
JTC’s strong track record in operating at the leading edge of alternative asset classes continues with its innovative and market-leading capabilities in the emerging sphere of cryptocurrencies.
JTC Fund Services can offer a fully AIFMD-compliant ManCo service. The activities of the ManCo include providing a portfolio management, risk management and oversight function.
We have a deep understanding of listing funds on internationally recognised stock exchanges and the ongoing regulatory requirements of administering listed funds.
As a truly independent fund administrator you can be reassured that your fund administration requirements are entrusted to people that care about your investment structures.
We will project manage your application and guide you through the process and co-ordinate the various advisors to assist with the fund launch and strive to ensure everything happens within the expected timescales.
We offer a transparent, proactively managed range of cash management, foreign exchange and lending services, supported by a dedicated team of experienced professionals.
JTC Corporate Services provides a comprehensive range of corporate and fund services from key onshore and offshore jurisdictions to leading companies in their field of expertise.
We provide corporate finance services for corporate and institutional clients including debt capital solutions, treasury and escrow services.
We provide employee benefit structures, administration services to ensure employees get maximum value from the plans that organisations put in place.
Global experience in this dynamic asset class, spanning our corporate, funds and private client divisions.
JTC Private Wealth Services specialises in protecting and nurturing your private capital in real estate, financial and non-financial assets across countries and generations.
Superior service delivered by industry leading experts for private individuals, entrepreneurs and their families.
We provide a tailored range of private office solutions that work effectively for each family, from generation to generation.
We are able to partner with corporate and institutional wealth providers to complement their service offering by providing trust and company services.
JTC has extensive cross-jurisdictional experience and expertise in working with institutional and private clients in Africa, Americas, Asia, Australasia, Caribbean, Channel Islands, Europe, Middle East, Russia & CIS and the United Kingdom.
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23 Nov 2017
Date: Friday 2 March 2018
14 Dec 2017
13 Dec 2017
We are JTC, an independent, award-winning provider of fund, corporate and private wealth services to institutional and private clients.
Established in 1987, we are proud of our history and excited about our future.
To build partnerships with our clients, we live and breathe our values. Together they form our unique culture and JTC DNA
We value shared ownership, we put relationships first, we invest in our people, we embrace technology. We are JTC.
Our CSR policy sets a common approach for us to follow in conjunction with our Code of Business Ethics, creating the maximum benefit to our people and the communities that they live and works in.
Join a dynamic team at JTC where everyone is dedicated to continuously delivering a service beyond our clients' expectations.
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We want everyone, wherever they work in the JTC network, to be able to develop the skills and knowledge that they need to be excellent in our world and we deliver this to our team through the JTC Academy.
JTC Gateway offers our people the opportunity to develop their careers by working in Group locations across the world.
JTC is committed to the policy of equal treatment of all its employees and requires all employees of whatever grade or authority, to abide by and aspire to this general principle.
We have a highly qualified and multilingual workforce. In 1998 we created the JTC Employee Benefit Trust, which turned our employees into stakeholders. This enables us to attract and retain the best people, whilst keeping them absolutely motivated and dedicated to our clients.
In 2014 this belief in share ownership was embedded further into the JTC culture with the equity for all scheme, allowing all permanent members of staff the opportunity to invest in the future of their company. That helps explain why they are so dedicated and care so much about their client’s work.
Our shared ownership culture benefits our clients.
JTC is an international organisation with global reach and true cross border capability. We are proud of our ability to provide the best solutions for clients irrespective of geography.
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Isle of Man
uk - London
USA - Miami
USA - New York
USA - South Dakota
A Jersey incorporated and/or administered PTC is exempt from the licensing requirements under the Financial Services (Jersey) Law 1998 so long as it does not solicit from or offer services to the public. The administration of the PTC must be conducted by a regulated trust company business (TCB) such as JTC.
The name of the PTC is a matter of choice and it is possible to use words such as ‘Trustees’ or ‘Trust Company Limited’ within it which serves to give the PTC a proper identity from the perspective of third parties.
Ownership of the PTC by either a Jersey foundation or a Jersey purpose trust is strongly recommended. A purpose trust (which exists to fulfil a purpose rather than benefit a class of beneficiaries) falls under the supervision of the ‘enforcer’ whose role it is to ensure that the purpose is fulfilled. In this case, the purpose is to hold shares in the PTC and ensure the provision of trustee services to one or more family trusts (known as the ‘designated trusts’). It is possible, although usually impractical, for the settlor or his family to own the shares in the PTC.
The appointment of directors for the PTC will normally be made by the foundation or purpose trust (as shareholder) and there is no requirement for a director of the TCB to be appointed (although this may well be preferable in practice).
Tax, local legal considerations and each director’s residence and domicile (especially if they are a beneficiary of any of the Designated Trusts) should be carefully considered.
Depending on the nature and underlying assets of the designated trusts, directors of a PTC should also consider whether director and officer insurance cover is desirable.
Administration is conducted by the TCB and an administration agreement between the PTC and the TCB is required which covers the maintenance of books and records, provision of secretarial and registered office facilities, and general administration of the PTC.
Importantly, it should also cover the provision of administration services for the designated trusts and subsidiary companies for matters such as record keeping, maintenance of bank and investment accounts and accounting services.
Provided JTC has the client due diligence it requires, and advice has been obtained on the most appropriate constitution for the PTC, the PTC can normally be incorporated in Jersey within five business days. The only formal requirement is for the TCB to notify the Jersey regulator of the name of the PTC and its beneficial owner.
The PTC can be highly effective when consolidating the administration of various family trusts and the structuring of interests in private family mutual funds or private equity investments.
A settlor can, subject to tax advice, be involved with the ongoing management of the designated trusts in a number of ways:
PTC arrangements significantly increase the family’s influence and, to some extent, control over the destiny of assets placed in trust for both present and future generations without prejudicing the validity of the designated trusts. The family can be an integral part of the fiduciary decision making process.
Family members may potentially sit on sub-committees of the PTC to become familiar with the management of the family’s financial assets and, where appropriate, contribute to deliberations underlying the exercise of the trustee’s dispositive and other powers.
The PTC can negate the need for ‘policing’ the trustee by appointing one or more protectors. Also, while it is acknowledged that a letter of wishes issued to a third party trustee is often useful as guidance for the settlor’s wishes, it is no substitute for the thorough and sometimes complex understanding of the needs and wishes of the settlor and beneficiaries which family members and trusted advisers can apply to the decision making process.
PTCs could contemplate higher risk commercial transactions than would normally be expected within a traditional trust arrangement. Being more familiar with the underlying assets of the designated trusts, the directors of a PTC are often better positioned to react more quickly to major transactions than an institutional third party trustee which will often seek to examine the transaction in detail and may require additional legal advice or seek indemnities before giving its approval.
Depending upon the requirements of a particular PTC, JTC can provide the systems and resources to support the work of the PTC’s directors.
There is no ongoing requirement to submit any financial statements to the local authorities in respect of the PTC or any of the designated trusts. Although accountancy records must be maintained by the PTC.
The PTC is yet another offering of Jersey’s finance industry which complements the diverse range of vehicles for international wealth planning.
This publication is intended to provide an overview of the subject matter and is not comprehensive in nature or to be construed as legal or tax advice. We recommend that clients seek professional advice on any particular matter.
Group Head of Private Wealth Services
Group Director - Private Wealth Services
JTC Group entities that carry on regulated business are (respectively): regulated by the British Virgin Islands Financial Services Commission; the Cayman Islands Monetary Authority; the Guernsey Financial Services Commission; the Jersey Financial Services Commission; the Commission de Surveillance du Secteur Financier and the Ordre des Experts-Comptables (Luxembourg); the Financial Services Commission (Mauritius); De Nederlandsche Bank (Netherlands), the South African Financial Services Board as an authorised financial services provider; chartered and regulated to provide trust services by the South Dakota Division of Banking in South Dakota (USA); a member of l’Association Romande des Intermédiaires Financiers (Switzerland); licensed by the Isle of Man Financial Services Authority and authorised and regulated by the Financial Conduct Authority (UK).
L’Association Romande d’Intermédiaires Financiers (ARIF) is a self-regulated agency approved by the Swiss Financial Market Supervisory Authority (FINMA) for the supervision of financial intermediaries referred to in Article 2 para.3 of the Swiss Federal Act concerning the fight against money laundering and terrorist financing in the financial sector (LBA). ARIF is also recognised by FINMA as a professional organisation for the enactment of rules of conduct relating to the exercise of the profession of independent managers within the meaning of the Collective Investment Schemes Act (CISA).
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