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ARTICLE · 13 APRIL 2022

Guide To BVI Closed-Ended Investment Funds

Maples Group
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While the Cayman Islands has forged a deserved reputation as the leading offshore jurisdiction for investment funds, in recent years the British Virgin Islands (BVI) has gained increasing popularity...

British Virgin IslandsFinance and Banking
Andrew Wood
Andrew Wood
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While the Cayman Islands has forged a deserved reputation as the leading offshore jurisdiction for investment funds, in recent years the British Virgin Islands (BVI) has gained increasing popularity in the closed-ended sector of the industry. This article discusses the most commonly sought structure for BVI closed-ended funds, and certain legal and regulatory considerations for global fund managers associated with the use of the jurisdiction.

BVI LIMITED PARTNERSHIPS

The renaissance of BVI investment fund activity has been driven in no small part by the wholesale rewrite of the jurisdiction's partnership legislation in 2017, and the introduction of the Limited Partnership Act (LP Act, as revised). The LP Act replaced the longstanding and under-utilised international limited partnership regime, and offers managers a highly flexible and modern structuring tool for closed-ended investment funds.

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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