Gibraltar Experienced Investor Funds (EIF) Guidelines
|Entity Requirements||The entity making the application is Gibraltar:
|Director’s Requirements||The licensee will need at least 2 (two) natural person Fit and Proper Directors of any jurisdiction.|
|Compliance Officer||The Licensee must establish and maintain an appropriate and effective compliance function within the firm which operates independently of all operational and business line functions and senior or supervisory management.|
|Fund Administrator||The Applicant must employ a fund administrator with no local requirement Administrator of an EIF must be domiciled and regulated in Gibraltar or, If external, be established in a jurisdiction where it is regulated in accordance with a legislative and regulatory regime that provides at least equivalent protection to the regime in Gibraltar. The appointment of fund administrators established outside of Gibraltar requires the Commission’s consent and is also subject to the consent of the Minister with responsibility for financial services.|
|Fund Manager||Any licensed fund manager as approved by the GFSC.|
|Auditor||The Licensee must have a Qualified local auditor or Foreign auditor if fund is structured as a domestic company|
|Insurance||The applicant must have indemnity insurance coverage or a fidelity bond acceptable to the regulator|
|Minimum Capital Requirements||£10,000|
|Application Fee||£ 2,500|
|Annual Fee||£ 2,500|
- License are to be renewed annually. On application for renewal of a Licence, GFSC , if satisfied that the applicant is a licensee of good standing, may grant the renewal on payment by the applicant of the annual renewal licence fee
- Filing of Audited Accounts: The licensee shall for the financial year beginning on the day on which it commences to carry on securities business; and for each subsequent year submit to the Commission, within ninety days after the end of the financial year, audited financial statements prepared in accordance with international accounting standards, and which contain such additional information as may be prescribed.
- The Licensee must maintain appropriate policies of insurance for the purpose of indemnifying such licensee against any liability that may be incurred as a result of any act or omission by the licensee or any of its officers or employees in the conduct of the licensee’s securities business.
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