| Service Providers | Professional Fund | Private Fund | Approved Fund | Incubator Fund |
| Suitability | Full-fledged hedge fund eg UK, US | Significant ‘family & friend’ offering | Smaller ‘family & friend offering’ while emerging/start-up managers prove track record | Smaller ‘family & friend offering’ while emerging/start-up managers prove track record |
| Maximum Assets Under Management | Uncapped | Uncapped | US$100 million | US$20 million |
| Max no. Investors | Uncapped | 50 (but no cap if made on ‘private basis’) | 20 | 20 |
| Investor Qualification Requirements | ‘professional investors’ only | N/A | N/A | ‘sophisticated private investors only’ |
| Min. initial investment per investor | US$100,00 (exceptions for parties connected to investment manager exist) | N/A | N/A | US$20,000 |
| Max. duration | N/A | N/A | N/A | 2 years with 12 month extension possible. At end of term, fund must be wound up or be converted into approved, private or professional fund |
| Mandatory Investment Manager? | Yes | Yes | No | No |
| Mandatory auditor (need not be BVI) | Yes | Yes | No | No |
| Mandatory custodian bank? | Yes | Yes | No | No |
| Mandatory administrator? | Yes | Yes | Yes | No |
| Foreign service providers allowed? | Yes provided provider is from an ‘approved’ jurisdiction eg US, UK, Barbados | Yes provided provider is from an ‘approved’ jurisdiction eg US, UK, Barbados | Yes provided provider is from an ‘approved’ jurisdiction eg US, UK, Barbados | Yes provided provider is from an ‘approved’ jurisdiction eg US, UK, Barbados |
| Director requirements? | 2 – can be resident anywhere but should be professional with suitable track record | 2 – can be resident anywhere but should be professional with suitable track record | 2 – can be resident anywhere but should be professional with suitable track record | 2 – can be resident anywhere but should be professional with suitable track record |
| Realistic timeframe to launch | 3-6 weeks | 3-6 weeks | 1-2 weeks | 1-2 weeks |
| Realistic cost! (not including cost of functionaries as required nor disbursements) | US$25,000+ | US$18,000 | US$12,000 | US$9,000 |
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