For Offshore Hedge Funds we recommend the British Virgin Islands (BVI)
The BVI’s strategy is to focus its offshore finance business on higher value added professional services in future, rather than on the traditional simple offshore companies. It benefits from a vibrant professional community of accountants, lawyers, auditors etc and yet still retains a relatively light regulatory touch for typical closed hedge funds and other types of private collective investment vehicles.
This structure is ideal for those who want to offer investment management services on a credible professional basis, being able to demonstrate a suitable license from a highly reputable jurisdiction. Services should be offered to suitably qualified professional investors, not to the general public.
Please contact one of our consultants to discuss your requirements in more detail. Our indicative fee schedule is shown below.
Fees for BVI Private / Professional Fund Setup
STANDARD FUND PACKAGE USD 15,000
includes:
Standard memorandum & articles of association
License fees
BVI Registered Agent/Registered Office
Worldwide courier delivery
Disbursements
ANNUAL RENEWAL FEES FROM SECOND YEAR ONWARDS
BVI Registered Agent/Registered Office USD 825
Mutual Fund Authorised Representative USD 750
Company licence fee (Less than 50,000 shares) USD 525
Recognised Fund Licence annual renewal USD 1500
OPTIONAL FEES
Preparation of tailored Memorandum &Articles of Association USD 2,250-3,750
Preparation/review of Offering Document/fund agreements USD 2,250-3,750
BVI Legal review and opinion USD 3,000-$7,500
Local Directorate Services USD 3,750-$7,500
Offshore Pro Group shall be pleased to provide Administration services. The Administration fee is dependent on nature of the fund. For a small monthly quoted fund with little share register activity our fee is 20bp of Net Assets subject to $30,000 per annum minimum.
Offshore Pro Group shall also be pleased to arrange for the annual audit of the Fund by a recognized BVI auditor. Audit fees are typically in the range USD 15,000 – USD 27,000.