The Jersey LLC - a gateway to Europe and the UK for US asset managers

With assets under administration for US promoters increasing in Jersey, this Channel Island is seeking to capitalise on its role as a gateway to Europe for US asset managers either raising funds in Europe and/or the UK or with a pan-European investment strategy, with the introduction of the limited liability company, or LLC.

Conveniently similar to LLCs in Cayman and Delaware, we anticipate the Jersey LLC will be a popular structuring vehicle for those asset managers already familiar with this type of hybrid entity.

As such, an LLC may be an appropriate vehicle for a range of uses in investment funds structured as Jersey Private Funds, either as the fund vehicle itself, general partner or fund manager, carry vehicle or asset holding entity. Significantly, whilst an LLC is treated as a partnership in Jersey and so will be tax transparent, it is able to elect to be a body corporate and therefore be treated as a company for tax purposes.

For further guidance on the process for establishing an LLC, their key features and tax treatment, read our corporate briefing.

For more information about Jersey Private Funds regime, read our funds briefing.

If you have any queries on the use of a Jersey LLC as part of a Jersey investment fund structure, please do not hesitate to contact the team. 

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Disclaimer

This client briefing has been prepared for clients and professional associates of Ogier. The information and expressions of opinion which it contains are not intended to be a comprehensive study or to provide legal advice and should not be treated as a substitute for specific advice concerning individual situations.

Regulatory information can be found under Legal Notice