Financial services provider JTC has established the first managed trust company in Jersey for a mainland Chinese institution.
The licence was issued by the Jersey Financial Services Commission on 14 July to Ark Trust (Jersey), a subsidiary of Chinese firm Noah Wealth Management.
Noah will now be able to offer Jersey trust structuring solutions to its client base of over 100,000, with JTC providing administration services for Ark and any trusts for which it acts as trustee.
Founded in 2005, Noah is a wealth and asset management services provider for high-net-worth individuals and enterprises in China, with 166 branches and sub-branches in 68 cities across the country.