Isle of Man Specialist Fund

The Collective Investment Schemes Act 2008 (“CIS Act”) sets out the statutory framework in the Isle of Man for the promotion and regulation of collective investment schemes (“funds”).

Key Features

• Not retail – minimum initial investment level above US$100,000
• No regulatory pre-approval
• Post event notifications to the Authority
• Must appoint an administrator in IOM or acceptable jurisdiction
• No formal requirements for a custodian
• Flexibility on investment advisory/ asset management requirements
• Investors must be “specialist investors”
• Normally sold through Independent Financial Advisers to specialist investors or direct to institutional investors

Legal Requirements

Requirements	Description
General
Corporate  vehicle permitted	Company, Limited partnership, Unit trust
Local physical office required	No
Share capital or equivalent
·         Minimum subscription	USD 100,000
·         Minimum investors	None
Directors
Minimum number	2
Corporate directorship allowed	Yes
Local director required	Yes (if Administrator is not IoM resident)
Service Providers Required
Custodian	No
Fund manager/Investment manager	No
Fund administrator	Yes (local)
Auditors	Yes

Tax Treatment

Non-Isle of Man sourced income is free of tax, and there are no withholding taxes, so that non-resident investors will receive income and capital returns without deduction.

Duration to Set Up

2 months

Distinctive Benefits of Licence

• Low tax status
• Political and economic stability
• Proximity to the key markets of Europe
• Cost-effective alternative for the domicile of investment funds
• Has a wide range of fund service providers
• Sophisticated professional and banking infrastructure, the Island offers a solution for all fund promoters
• The Isle of Man has a well-founded reputation as a premier jurisdiction in terms of regulation and achieves a balance between
• Provides a business-friendly environment and, on the other hand, meets international standards of financial supervision

The Valsen Advantage

• End to end comprehensive service
• Speedy and efficient service
• Expert advice on structuring options
• Dedicated ongoing compliance support
• Extensive network pool of service providers