Jersey—cross border banking and finance guide
Produced in partnership with Ogier
Jersey—cross border banking and finance guide

The following Banking & Finance practice note produced in partnership with Ogier provides comprehensive and up to date legal information covering:

  • Jersey—cross border banking and finance guide
  • Loan market and developments
  • Please provide a brief overview of the current state of the loan markets in your jurisdiction and any significant recent market developments.
  • Please provide a brief overview of forthcoming changes to the law or other matters that may affect the loan markets or the responses to the questions below.
  • Lending
  • Is it necessary to obtain any consents or licenses in order to lend in your jurisdiction or enforce rights under a loan agreement and if so what is the process for obtaining the consent or license? Are there any other restrictions on lending that foreign lenders should be aware of?
  • Are there any taxes, duties or other charges associated with making loans to entities that are incorporated in your jurisdiction?
  • Are there any restrictions, controls, fees, taxes or charges on foreign exchange in your jurisdiction?
  • How is debt normally transferred in your jurisdiction?
  • Security and guarantees
  • More...

Jersey—cross border banking and finance guide

Loan market and developments

Please provide a brief overview of the current state of the loan markets in your jurisdiction and any significant recent market developments.

Lending from Jersey banks tends to be limited to transactions involving local real estate or local businesses or in the context of private banking to global high net worth individuals. We see large volumes of lending from UK and European banks to Jersey structures which hold primarily non-Jersey situs assets including UK real estate.

Please provide a brief overview of forthcoming changes to the law or other matters that may affect the loan markets or the responses to the questions below.

The Security Interests (Jersey) Law 2012 (which came into force on 2 January 2014) (the SIJL) brought about wholesale changes to the way security is created in respect of intangible moveable property in Jersey (such as shares in a Jersey company, units in a Jersey property unit trust and bank accounts situate in Jersey). The points to note are:

  1. the SIJL provides for creation of security by way of:

    1. control (relevant to bank accounts in Jersey, custody or securities accounts in Jersey and investment securities)

    2. possession (relevant to negotiable instruments or negotiable investment securities), or

    3. identification (relevant to all types of collateral referred to in the SIJL, although registration of the relevant security interests (but

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