BVI Approved Fund License_Guideline
BVI Approved Fund License
The statutory legislation governing most funds in the BVI is the Securities and Investment Business Regulations 2015 (“SIBA”) and the Mutual Fund Regulations, 2010.
About BVI Approved Fund
A BVI Approved fund is a low cost hedge fund vehicle which allows a manager to bring together a small number of investors. This fund is cost-effective and designed to avoid the regulatory burden when establishing a small fund. BVI Approved Funds have the following characteristics:
- Has no restriction on the minimum amount each investor subscribes.
- The total number of investors is limited to 20.
- Net assets of the Fund must not exceed US$100,000,000 or its equivalent in any other currency.
- Requires an Administrator and Authorised Representative to be appointed.
- No requirement for an auditor.
- No restriction on the life of the Fund.
- Submit semi-annual returns to the FSC by 31 January and 31 July which summarises pertinent information regarding the fund’s status, including the number of investors, total investments, aggregate subscriptions and redemptions, NAV and details of any significant investor complaints and how such complaints were dealt with. Each return will contain a confirmatory declaration which the directors will need to make confirming that the fund is not in breach of the New Fund Regulations;
- Notify the FSC within 14 days of any changes to the information provided in the application for approval or in relation to any matter which is likely to have a material impact on the fund.
- Company formations and Administration
- Assistance with Bank Account opening
- Collective Investment Setup and Administration
- Intellectual Property Registrations and Maintenance.
- Trusts and Foundations setup and administration
- Online Payment Gateway Solutions
- Banking Licenses and PSP, E-Money, E- Wallet Licenses
- Yacht and aircraft registrations.
- Cryptocurrency Solutions (ICO, STO, Crypto Exchanges etc)
- We will advise you on the optimal legal structure for your requirements, size, expectations and circumstances. We have extensive knowledge of a wide range of securities dealer licenses in all major jurisdictions.
- Valsen will assist to complete every form for each process in the best way we know how (Based on our many years’ experience with various regulators and service providers across the world)
- We are very hands on in the post filing period checking with re regulator and service providers and updating you regularly. Any queries raised by the regulators and service providers during processing will be quickly synthesized by us and we shall craft the right responses to move the process forward fast.
- We have a full in-house compliance support for all compliance requirements with the regulator and service providers
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- Email: [email protected]