Valsen Corporate

Isle of Man QIF Fund

Isle of Man QIF 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 – no minimum initial investment level
  • No regulatory pre-approval
  • Post-event notifications to the Authority
  • Must appoint an IOM Manager
  • Must appoint an appointed custodian
  • Flexibility on investment advisory/ asset management requirements
  • Investors must be “qualifying investors”
  • Normally sold through Independent Financial Advisers to qualifying investors
  • Regulated Financial Adviser Distribution
  • Regulated Promoter controlled distribution through acceptable financial advisers

 
Legal Requirements

Requirements

Description

General
  • Corporate  vehicle permitted

Company, Limited partnership, Unit trust
  • Local physical office required

No

Share capital or equivalent
  • Minimum subscription

None
  • 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

Yes
  • Fund manager/Investment manager

Yes (local)
  • Fund administrator

Yes
  • 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