Jersey Private Fund_Guidelines
- Who is a professional investor
- Who makes a minimum initial investment in or commitment to the JPF of not less than two hundred and fifty thousand pounds sterling (or the equivalent of that amount in another currency) either through an initial offering of units in the JPF or by subsequent acquisition;
|Entity Requirements||The entity making the application is Belize:
|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.|
|Designated Service Providers (DSP)||JPF must appoint a “Designated Service Provider” and there may be no change to the DSP without the prior approval of the JFSC.|
|Fund Administrator||The Administrator shall be a company incorporated and resident in Jersey. A company incorporated under the laws of a recognized jurisdiction.|
|Jersey Office||Not compulsory|
|Auditor||There is no obligation under the Jersey Unregulated Fund Guide to appoint an auditor or audit its financial statements|
|Insurance||The applicant must have indemnity insurance coverage or a fidelity bond acceptable to the regulator|
|Minimum Capital Requirements||None|
|Application Fee||USD 2,235|
|License Fee||USD 2,235|
- Licenses are to be renewed annually after the date of registration. On application for renewal of a Licence, Finance Service Commission , 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
- Maintain such accounting records and financial statements available for examination by the Registrar or any person authorized under his hand at its principal place of business or registered office in Jersey;
- 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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- 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.
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