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Regulatory Framework

The vast majority of BVI investment funds are set up as companies limited by shares under the BVI Business Companies Act, 2004.

Segregated Portfolio Companies (SPC) are also commonly used and are usually beneficial for fund managers wishing to establish master-feeder fund structures, structures providing for multiple classes of shares or any structure where the statutory segregation of assets is preferable.

Once set-up, a structure which proposes to carry on business as professional or private fund must apply for recognition under SIBA, by presenting an application form to the BVI FSC. Once the FSC is satisfied with that all the requirements have been met, including the functionaries requirements, a Certificate of Recognition as a Fund will be issued.

In terms of time frame, a well structured application will generally be processed within three to four weeks.

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