The States of Jersey approve the introduction of Jersey LLCs

The Draft Limited Liability Companies (Jersey) Law (the LLC Law) was debated and approved in the States of Jersey today and provides for the establishment of limited liability companies (LLCs) in Jersey.

In other jurisdictions where LLCs are already a feature, they are used in a diverse range of roles such as general partners, management vehicles, carried interest vehicles, portfolio holding vehicles, joint venture vehicles and private equity vehicles.

LLCs have traditionally been associated with the United States (US) and the introduction of a Jersey LLC will, in particular, give US advisers, investors and businesses the option of using a Jersey vehicle with features and characteristics they are already familiar with.

The LLC Law will also offer another option to those looking to do business in Jersey, combining many of the more desirable features of companies and partnerships in to one flexible vehicle.

Please click below to read a full summary.