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Jersey focus | Location, location, location

Tax matters, staffing needs, practical issues and legal structures must be considered before deciding where to base your family office, say Richard Joynt and Ian Slack

1 May 2014

High net worth individuals have tended to set up their family offices in their home jurisdiction. Nowadays, however, wealthy families have a more international outlook with members from different generations often based in various locations. Family offices, therefore, are being established in a select number of global hubs or offshore locations based on various key factors.

Although tax is not the main consideration, it is one of the first questions to ask. Whether the office
needs to be onshore or offshore will filter out a large number of possible locations.

A holistic, global approach to tax management can help the family preserve capital and enhance income. This needs to be balanced with the availability of the right expertise and may lead to an onshore investment advisory arm of an offshore family office with an appropriate market rate investment management fee paid.

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