BVI Incubator Fund Characteristics
SPVs via BVI incubator funds are designed for emerging managers and startups, offering a streamlined setup with minimal regulatory obligations. They do not require mandatory functionaries like auditors, administrators, or investment managers, making them ideal for developing investment strategies over time.
Operational Period: These funds can operate for up to two years, extendable by one year. They must transition to a Private, Approved, or Professional Fund or wind up operationsif viable.
Director Requirements: At least two directors are needed, one being an individual and the other an individual or a corporate entity. Their resumes must be submitted to the BVI Commission for approval.
Documentation and Compliance: Necessary documents include the fund's constitutional documents, written warnings to investors, a description of the investment strategy, and potentially an offering document. Annual financial statements and semi-annual returns regarding eligibility must be submitted. The fund must comply with various regulatory requirements, including CRS Reporting and FATCA.
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