Bayern Legal Limited

23 Berkeley Square,
London W1J 6HE

BVI Fund Factsheet

Service ProvidersProfessional FundPrivate FundApproved FundIncubator Fund
SuitabilityFull-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 ManagementUncappedUncappedUS$100 millionUS$20 million
Max no. InvestorsUncapped50 (but no cap if made on ‘private basis’)2020
Investor Qualification Requirements‘professional investors’ onlyN/AN/A‘sophisticated private investors only’
Min. initial investment per investorUS$100,00 (exceptions for parties connected to investment manager exist)N/AN/AUS$20,000
Max. durationN/AN/AN/A2 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?YesYesNoNo
Mandatory auditor (need not be BVI)YesYesNoNo
Mandatory custodian bank?YesYesNoNo
Mandatory administrator?YesYesYesNo
Foreign service providers allowed?Yes provided provider is from an ‘approved’ jurisdiction eg US, UK, BarbadosYes provided provider is from an ‘approved’ jurisdiction eg US, UK, BarbadosYes provided provider is from an ‘approved’ jurisdiction eg US, UK, BarbadosYes 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 record2 – can be resident anywhere but should be professional with suitable track record2 – can be resident anywhere but should be professional with suitable track record2 – can be resident anywhere but should be professional with suitable track record
Realistic timeframe to launch3-6 weeks3-6 weeks1-2 weeks1-2 weeks
Realistic cost! (not including cost of functionaries as required nor disbursements)US$25,000+US$18,000US$12,000US$9,000


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