Wealth structuresBVI Fund Factsheet

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Service Providers
Professional Fund
Private Fund
Approved Fund
Incubator Fund
Suitability
Full-fledged hedge fund eg UK, US Significant ‘family & friend’ offering Smaller ‘family & friend offering’ while emerging/start-up managers prove track record Smaller ‘family & friend offering’ while emerging/start-up managers prove track record
Maximum Assets Under Management
Uncapped Uncapped US$100 million US$20 million
Max no. Investors
Uncapped 50 (but no cap if made on ‘private basis’) 20 20
Investor Qualification Requirements
‘professional investors’ only N/A N/A ‘sophisticated private investors only’
Min. initial investment per investor
US$100,00 (exceptions for parties connected to investment manager exist) N/A N/A US$20,000
Max. duration
N/A N/A N/A 2 years with 12 month extension possible. At end of term, fund must be wound up or be converted into approved, private or professional fund
Mandatory Investment Manager?
Yes Yes No No
Mandatory auditor (need not be BVI)
Yes Yes No No
Mandatory custodian bank?
Yes Yes No No
Mandatory administrator?
Yes Yes Yes No
Foreign service providers allowed?
Yes provided provider is from an ‘approved’ jurisdiction eg US, UK, Barbados Yes provided provider is from an ‘approved’ jurisdiction eg US, UK, Barbados Yes provided provider is from an ‘approved’ jurisdiction eg US, UK, Barbados Yes provided provider is from an ‘approved’ jurisdiction eg US, UK, Barbados
Director requirements?
2 – can be resident anywhere but should be professional with suitable track record 2 – can be resident anywhere but should be professional with suitable track record 2 – can be resident anywhere but should be professional with suitable track record 2 – can be resident anywhere but should be professional with suitable track record
Realistic timeframe to launch
3-6 weeks 3-6 weeks 1-2 weeks 1-2 weeks
Realistic cost! (not including cost of functionaries as required nor disbursements)
US$25,000+ US$18,000 US$12,000 US$9,000

Stephen Abletshauser

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Salt Trust

Salt Trust Limited
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Upton,
Christchurch,
Barbados
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