Amendments to the Jersey Private Fund Guide 2025

Existing JPFs may apply to the JFSC for updated consent to benefit from the new regime.

Key amendments include:

• Relaxation of Investor Limits
  • The previous restriction limiting JPFs to effectively 50 investors has been removed for new JPFs. Rules regarding topping-up and transfers have also been relaxed; and will no longer impact the investor count.
• Expanded Definition of Professional Investor
  • The “Professional Investor” definition has been broadened to include:
    • a “professional client” under the UK Financial Conduct Authority’s Conduct of Business Sourcebook; and
    • an “US accredited investors” under Rule 501 of Regulation D of the US Securities Act of 1933.
• Listing of Interests
  • JPF may now apply for a “technical listing” with no active trading (where interests have been “privately placed” with select investors with no public offering).
• Streamlined 24-Hour Authorisation
  • The JFSC has committed to a 24-hour turnaround for JPF authorisation.

These amendments to the JPF Guide represent a positive development for the Jersey funds industry, streamlining fund formation and enhancing flexibility.