Jersey: foundations built on sand

June 12th, 2009 reports:

Jersey’s Privy Council has approved an order allowing Foundations to be set up in Jersey. At a meeting held this week in London, an order was made approving the Foundations (Jersey) Law 2009.

Another toy for the tax abusers to play with.

At cost to society at large.

And Jersey seriously ask us to believe that they’re in the “cooperative, respectable, transparent and well regulated group” of jurisdictions.

The evidence on the ground is quite the opposite: they are dedicated to providing structures for offshore abuse; abuse that can only be designed to undermine  the legislation or regulation of another jurisdiction behind a deliberate, legally backed veil of secrecy that ensures that those from outside Jersey making use of its regulation cannot be identified to be doing so.

I wonder if Jersey Finance have read 1984?

Written by Richard Murphy

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