Icing over the cake to set up an offshore company and open an offshore bank account simultaneously for the forex trading activity. An authorized fund must designate an Administrator but need not assign a Custodian, Investment Manager, or Auditor. In addition, an incubator fund is not required to appoint an auditor, administrator, custodian, investment manager, or auditor.Īn approved fund is limited to 20 investors and has a net asset cap of US$100 million. Incubator Investment Fund RequirementsĪn incubator fund can only accept 20 investors and has a minimum investment requirement of US$20,000 and a maximum cap on net assets of US$20M. The new British Virgin Island Regulations empower the hedge fund Incubator and Approved Funds to be set up and dispatched on a most optimized plan of track, low-cost basis with limited administrative oversight by the British Virgin Islands Financial Services Commission. This constraint frequently caused advertisers difficulty raising money because most investors tended to favour an instrument allowing them to withdraw their money. Guidelines were subsequently passed, considering the establishment in the BVI of two new mutual fund structures, Incubator Funds, and Approved Funds.īefore 2015, setting up a (non-authorized) Closed-End Fund, in which the investor had to secure his assets for a predetermined investment time, was the primary option for a successful dealer or potential fund director looking to dip their toe into the fund management market. The reform-minded jurisdiction, the British Virgin Islands (BVI), recognized a need for a sensitively directed fund model in the Fund Setup Market in 2015.
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