A private fund under the SIBA is a fund (a) that shall have no more than fifty investors or (b) in which an invitation to subscribe for, or purchase fund interests issued by the fund shall be made on a private basis only. The SIBA provides that such an invitation includes an invitation which is made (a) to specified persons (however described) and is not calculated to result in fund interests becoming available to other persons or to a large number of persons or (b) by reason of a private or business connection between the person making the invitation and the investor. A private fund cannot commence business until recognized by the Commission.
Key Features
| BVI Private Fund |
Corporate Details |
|
General |
|
|
Private Fund |
|
English Common Law |
|
Yes |
|
Yes |
|
3 Months |
|
No |
|
Share capital or equivalent |
|
|
US$ |
|
Any |
|
None |
|
50 |
|
Directors |
|
|
2 |
|
No |
|
Yes |
|
Service Providers |
|
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
Accounts |
|
|
Yes |
|
Yes |
|
Yes |
Advantages
- Mutual Funds are tax exempt;
- A recognized and respected legal system supported by English common law, modern local legislation and a well-developed court system, including a dedicated commercial division;
- No regulatory restrictions on investment policies or strategies or on performance and other fee arrangements;
- No requirement to appoint local directors or local functionaries;
- Various types of fund structures including, single class funds, multi-class funds and master-feeder funds are facilitated;
- Statutory segregated portfolio ring-fencing;
- Amendment of constitutional documents may be made by shareholders or directors where so authorized;
The Valsen Advantage
- Speedy, Efficient and consistent Services.
- Relentless effort to obtain bank accounts.
- Expert advice on structuring options
- Dedicated ongoing compliance support.