Saint Vincent Private Fund License
Key Features
All applications to carry on business, as a Private Fund must be submitted to the St. Vincent and the Grenadines Financial Services Authority to the attention of the Registrar of Mutual Funds. The legal structure that can form the basis of a St. Vincent mutual fund includes an incorporated company, a partnership or a unit trust. It can include an umbrella type fund. Open ended, closed ended and integral funds are allowed. A private or accredited fund is a mutual fund that either has no more than fifty investors or issues shares on a private basis. An accredited fund issues shares only to accredited investors, with an initial investment of not less than USD 25,000. An accredited investor is one who has a net worth in excess of USD 1 million.
Legal Requirements
Requirements |
Description |
General |
|
|
St. Vincent International Company, Partnership or Unit Trust |
· License application fee |
USD 500 |
· Annual license fee |
USD 600 |
|
No |
Share capital or equivalent |
|
· Minimum subscription |
USD 25,000 |
· Minimum investors |
50 |
Directors |
|
|
2 |
|
Yes |
|
No |
Service Providers Required |
|
|
Yes (from anywhere) |
|
Yes (from anywhere) |
|
No |
|
Yes |
|
Yes |
- Minimum formality and speedy approval procedures, which allows funds to be created quickly, once the structure, investment criteria and prospectus have been finalized;
- No exchange controls or other restrictions on the movement of funds; and
- Favourable tax regime.
- End to end comprehensive service
- Speedy and efficient service
- Expert advice on structuring options
- Dedicated ongoing compliance support
- Extensive network pool of service providers