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ARTICLE · 19 OCTOBER 2016

Continuing Obligations For British Virgin Islands Public Funds

Carey Olsen
Carey Olsen
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No mutual fund may carry on business or hold itself out as carrying on business in or from within the the BVI unless the mutual fund is recognised under the Securities and Investment Business Act.

British Virgin IslandsWealth Management
Carey Olsen
Carey Olsen
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No mutual fund may carry on business or hold itself out as carrying on business in or from within the British Virgin Islands (the "BVI") unless the mutual fund is a public fund, professional fund, private fund or recognised foreign fund under the Securities and Investment Business Act ("SIBA").

Continuing Obligations for British Virgin Islands Public Funds

In addition to the continuing obligations and fees which generally apply to BVI companies or partnerships, public funds are subject to a number of on-going administrative requirements in the BVI pursuant to SIBA, the Mutual Funds Regulations, 2010 (the "Regulations"), the Public Funds Code, 2010 (the "Code") and other associated legislation. Failure to comply with these obligations can result in fines being imposed against the fund and / or the fund's registration being revoked by the BVI Financial Services Commission (the "FSC").

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