The legal framework allowing for the creation of foundations has been in place for less than four years and the progress made in that time has been described by Jersey Finance chief executive Geoff Cook as encouraging.
About a third of all foundations now based in the Island are used specifically by super-wealthy families as part of their wealth management and dynasty planning strategies. Apart from their use by the super-wealthy, foundations are also popular as a vehicle for philanthropy and charitable giving.
Jersey Finance said that there had been a strong uptake from continental Europe, with Switzerland and the Netherlands at the forefront. There have also been high levels of interest from Asia, including the Far and Middle East.
