Spear’s Review

Edward Bennett, a consultant at Bedell Cristin, has been providing trusts and wealth structuring advice on Jersey for more than 30 years, and sees it as far more than simply a tax haven.

He tells Spear’s: ‘When, or if, issues do crop up and cause problems and need to be litigated, clients have faith that if it’s litigated in the Jersey courts, it’s done with respect to the rule of law. The lawyers, trust companies and banks are inspected, and if they are found to be lacking adherence to the regulations, then there are severe penalties.

‘It’s certainly not the cheapest place to establish a structure, but if you’re concerned about saving a few thousand and going to a jurisdiction where you might get that saving, you won’t get the rule of law. You won’t have the protection of the regulatory regime, and when things go wrong in those jurisdictions it’s far, far more expensive.’