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

  • Type of Entity

Private  Fund

  • Type of Law

English Common Law

  • Registered Office in BVI

Yes

  • Other Local Service Providers

Yes

  • Our time to obtain licence

3 Months

  • Corporate Taxation

No

Share capital or equivalent

  • Standard currency

US$

  • Permitted currencies

Any

  • Minimum Subscription

None

  • Minimum Investors

50

Directors

  • Minimum number

2

  • Local required

No

  • Corporate directorship allowed

Yes

Service Providers

  • Custodian

Yes

  • Fund Manager/Investment Manger

Yes

  • Fund administrator

Yes

  • Auditors

Yes

Accounts

  • Requirements to prepare

Yes

  • Audit requirements

Yes

  • Requirements to file accounts

Yes

Advantages

  1. Mutual Funds are tax exempt;
  2. 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;
  3. No regulatory restrictions on investment policies or strategies or on performance and other fee arrangements;
  4. No requirement to appoint local directors or local functionaries;
  5. Various types of fund structures including, single class funds, multi-class funds and master-feeder funds are facilitated;
  6. Statutory segregated portfolio ring-fencing;
  7. 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.