Segregated Portfolio Companies ("SPCs") - A SPC is a single legal entity with the statutory ability to segregate assets and liabilities between segregated portfolios established within the company. Due to its flexibility, BVIBCs are the most commonly used vehicle. The directors may also designate different series within each share without need to amend the fund’s constitutional documents. Shares do not need to have any par value or capital attributed to them. New type of recognised collective closed-end investment vehicle.īusiness Companies (“BVIBC”) - A BVIBC is a separate legal entity from its investors (whose liability is limited by statute). A Public Fund is not only subject to regulation under the Securities and Investment Business Act 2010 (“SIBA”) but must also comply with the BVI Public Funds Code. These funds are viewed as retail products and are generally subject to more extensive regulation than private or professional funds. Public Funds have no minimum investment criteria. The minimum initial investment requirement for an investor in a Professional Fund is US$100,000. Professional Funds make up the majority of open-ended funds in the BVI and are aimed typically at professional investors or high net-worth individuals. It may either have no more than fifty investors or must be offered on a private basis only. Private FundsĪ Private Fund has no minimum initial investment amount. Both Incubator Funds and Approved Funds benefit from a fast-track approval process that enable them to commence business two business days after submitting a completed application to the BVI FSC.
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