Yes, certainly. Just like for the offshore company registrations, the BVI is one of the most popular offshore jurisdictions also for offshore mutual fund registrations. These are regulated and licensed under the Securities and Investment Business Act, 2010 and a number of Regulations and Guides.
The BVI provides five different types of regulated funds suitable for all needs and purposes so anyone can choose to apply for the most appropriate one:
– Incubator fund for start-up investment managers who wish to gain track record. The law specifies limited number of investors, fixed amount of minimum investment, limited total net assets, limited duration before it is required to apply for a fund license. At the same time, it is quick and easy to establish, fast approval process, low costs, light regulations (no functionaries, no audits required).
– Approved fund for the managers who wish to offer long-term operation for a limited number of investors on basis of a private offering (usually family, close friends or associates). It is rather similar to a private fund, but much less costly and with much lighter regulations. It has unlimited duration term, but the law states limited number of investors and total net assets.
– Private fund for private offerings only. The law states the limit of total number of investors, which however can be exceeded provided that the subscription invitations are made strictly on private basis. Invitation to a great number of persons is not considered “private” and public fund license must be sought. Private fund is subject to all fund rules and regulations including appointment of the functionaries and provision of audited financial statements.
– Professional fund for offerings to explicitly defined professional investors with fixed minimum investment amount requirements.
– Public Fund for offerings to unlimited number of potential investors of general public (retail investors). There are no requirements for the investors to correspond to any specific description such as in case of private or professional funds, nor is there a requirement for minimum amount to be invested. Since this type of funds involve the highest risk for the society, they are subject to more stringent regulations and more thorough examination in the license application process.
If you intend to register an investment fund in the BVI, we will gladly assist you. We will register a company to become the fund, we will provide you all the forms and help you with their completion, we will explain you all the requirements regarding the documents to be provided and we will guide you in the document preparation. We will guide you through all the application process step-by-step. Nevertheless, please be advised that considerable amount of information will have to be provided and work will have to be done from your side. The potential success of the application largely depends on the character, previous experience and business background of the fund license candidate as well as detailed particulars and forecasts of the intended business. We do not and we cannot know such information that refers personally to you and your team as well as the particulars of your intended business, therefore only with your active collaboration in the application process the license or approval can be achieved.
You can read more about the benefits of registering your fund in the BVI, the process and the services that we offer to the funds in the section of BVI Mutual Fund registration.
