BVI Approved Managers Regime

In 2012 a new "regulatory light" regime for certain investment managers was introduced in the British Virgin Islands. The Investment Business (Approved Managers) Regulations, 2012 (the "Regulations") and the associated Approved Investment Managers Guidelines took effect from December 10 2012. In January 2014 the Regulations were then amended to extend the regime to include managers of non-BVI funds. The Regulations allow investment managers that meet certain criteria to apply to become Approved Managers without the need to comply with  certain provisions of the BVI Securities and Investment Business Act, 2010 ("SIBA") and the BVI Regulatory Code, 2009 (the "Regulatory Code").

Key features of the Approved Manager Regime