Valsen Corporate

Saint Vincent and the Grenadines Fund Manager License

  • St. Vincent Fund Manager License Mutual funds are regulated by the Mutual Funds Act, 1997 as amended by the Mutual Funds (Amendment) Act 1998, with Regulations issued in 1999. The Act provides for the licensing of Fund managers.
    Key Features
    Fund managers are required to apply to the Authority for a license to carry on business as managers. The Act provides that a natural person, any mutual fund, company, trusts or trustee may apply for a license to carry on business as a manager. Applicants must show evidence that they have or have available to them expertise and resources necessary to carry out the business proposed. The applicant must meet standard fit and proper requirements. All applications to carry on business, as a Fund Manager must be submitted to the St. Vincent and the Grenadines Financial Services Authority to the attention of the Registrar of Mutual Funds.

    Legal Requirements

    Requirements

    Description

    General
    • Corporate  vehicle permitted

    St. Vincent International Company, Partnership or Unit Trust
    • License application fee

    USD 500
    • Annual license fee

    USD 500
    • Local physical office required

    No

    Share capital or equivalent
    • Minimum paid up capital

    None

    Directors
    • Minimum number

    2
    • Corporate directorship allowed

    Yes
    • Local director required

    No

    Shareholders
    • Minimum number

    2
    • Corporate shareholder allowed

    Yes
    • Local shareholder required

    No

    Service Providers Required
    • Company secretary

    Yes
     Tax Treatment Total exemption from all taxes (International Business Companies may, however, opt to pay SVG income tax at 1% if they wish to take advantage of the Caricom Tax Treaty). Duration to Set Up About 4 to 6 weeks Distinctive Benefits of Licence
    1. Minimum formality and speedy approval procedures, which allows funds to be created quickly, once the structure, investment criteria and prospectus have been finalized;
    2. No exchange controls or other restrictions; and
    3. Favourable tax regime.
    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