Jersey Regulator To Hike Trust Registration Fees
by Jason Gorringe, Lowtax.net, London
22 December, 2015
The Jersey Financial Services Commission (JFSC) has launched a public consultation on proposals to increase annual registration fees and alter the current fee cap for trust companies. Comments on the suggested changes can be submitted until January 29, 2016.
It is proposed that annual registration fees for trust companies will rise by two percent.
Meanwhile, a change to legislation has been proposed to increase the fee cap. The law will now provide that the registration fee is subject to a fee cap of the greater of either GBP60,000 (USD89,200) or three-quarters of the fee that would be payable absent any fee cap being in place, whichever is greater. The earlier version had included the figure GBP50,000 or two-thirds of the fee payable absent any fee cap being in place.
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