11 May 2017

Continuing obligations for BVI private and professional funds

No mutual fund may carry on business or hold itself out as carrying on business in or from within the British Virgin Islands (the BVI) unless the mutual fund is a public fund, professional fund, private fund or recognised foreign fund regulated under the Securities and Investment Business Act (“SIBA”).

In addition to the continuing obligations and fees which generally apply to BVI companies or partnerships, private and professional funds are subject to a number of on-going administrative requirements in the BVI pursuant to SIBA, the Mutual Funds Regulations, 2010 (the “Regulations”) and other  associated legislation. Failure to comply with these obligations can result in fines being imposed against the fund and/or the fund’s recognition being revoked by the BVI Financial Services Commission (the “FSC”).

This guide summarises the annual filings and the continuing obligations applicable to professional funds and private funds in the BVI. Please refer to our client guide 'Continuing Obligations for BVI Public Funds' in relation to the continuing obligations applicable to public funds.

To read the guide, please download the PDF.

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