The Five Key Ongoing Obligations Of BVI Funds

I wanted to write a post on the continuing obligations for BVI funds because if you are thinking of launching a fund in the BVI, knowing what your obligations will be is essential. My challenge was how to do it without boring you all to tears. I think I have managed to capture the obligations in five key headings so, hopefully, I can hold your attention for just long enough!

1. Appoint certain service providers and to give notice to the FSC if they change

All BVI funds are required to appoint an authorised representative in the BVI to liaise with the Financial Services Commission (FSC). In addition, they are generally required to appoint an investment manager, an administrator, a custodian and an auditor. Funds will often choose to appoint investment advisors and prime brokers in addition to the service providers that are required.