British Virgin Islands Private Fund License

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.