Gibraltar EuVECAS and EuSEF Funds

HomeGibraltar EuVECAS and EuSEF Funds

Key Features

EuVeCa’s are funds which place a percentage of the investments supporting young and innovative companies.

EuSEF are funds that focus on investing in European social businesses. The EuVeCa and EuSEF regimes is available to managers of undertakings for Collective Investment established in the European Economic Area falling below the Alternative Investment Fund Managers (AIFM) Directive threshold of €500 million applicable to managers managing unleveraged, closed-ended alternative investment funds (AIF). EuVeCa and EuSEF regimes are allowed to passport and raise capital across Europe in return for complying with the investment rules, registration and minimum regulatory capital.

EuVeCa – Every fund wanting to use this label will have to evidence that a high percentage of investments (a minimum of 70% of the capital received from investors) will be spent in supporting young and innovative companies.

EuSEF – Every fund wanting to use this label will have to prove that a high percentage of investments (a minimum of 70% of the capital received from investors) will be spent in supporting social businesses. The fund will need to evidence that the achievement of measurable positive social impact will be the primary objective of each of the undertakings the Fund invests in.

Legal Requirements

Requirements

Description

General
  • Corporate  vehicle permitted

Limited company, Unit trust, Limited partnership, Protected Cell Company (PCC)
  • 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

No

Service Providers Required
  • Custodian

Yes
  • Fund manager/Investment manager

Yes
  • Fund administrator

Yes
  • Auditors

Yes

Tax Treatment

  • No Corporation tax on income accrued and derived outside Gibraltar
  • No requirement to withhold tax on dividends or on redemption of shares
  • No inheritance, capital gains tax, wealth tax or VAT
  • No withholding tax on dividends paid to non-resident companies or individuals

Duration to Set Up

3 to 6 months

Distinctive Benefits of Licence

  • Low setup costs
  • Quick and easy regulatory notification process
  • No investment restrictions
  • Favourable tax environment

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

Gibraltar Offering