04 September 2018
When it comes to fiduciary services, leading international finance centres Jersey and Guernsey have long been ‘jurisdictions of choice’ for wealthy families and individuals in the Middle East. And with the successful launch of the Jersey Private Fund regime in 2017, more and more Middle Eastern clients are being introduced to the Channel Islands.
Through Jersey and Guernsey, a wide range of asset ownership structures are available, including trusts and unit trusts, foundations, private trust companies (PTCs), special purpose vehicles (SPVs), limited partnerships and collective investment schemes. Moreover, given the flexibility of the legislation governing these structures, it is possible for them all to be designed in a manner that is compliant with Sharia law.
But which are best suited to Middle Eastern clients? In eprivateclient’s newly released 2018 Middle East report, First Name Peter Unwin seeks to answer this question by examining the nature and needs of the modern Middle Eastern client, as well as emerging trends and changes in the region.
Peter Unwin is a client services director for First Names Group in Jersey. Peter specialises in delivering bespoke fiduciary services to ultra-high-net-worth individuals and families in the Middle East, in particular Saudi Arabia and Kuwait.
This article has been issued by First Names Management Limited on behalf of certain companies that form part of First Names Group. The article has been prepared for general circulation to clients and intermediaries, and does not have regard to the particular circumstances or needs of any specific person who may read it. Nothing in this article constitutes legal, accounting, tax or investment advice.
The information contained in this article has been compiled by First Names Management Limited and/or its affiliates from sources believed to be reliable, but no representation or warranty, express or implied is made to its accuracy, completeness or correctness. All opinions and estimates contained in this report are judgements as of the date of publication, and are provided in good faith but without legal responsibility.
