![]() Under BVI regulations, the BVI incubator fund is permitted to operate for two (2) years (with the possibility of one additional year) with no service functionaries (i.e. This type of hedge fund option is very attractive to start-up managers who are seeking to grow assets under management in a cost-efficient manner. Learn More About the BVI Closed-Ended Company "Fund" The Incubator Fund is aimed at managers who do not necessarily have the benefit of seed investor capital but who wish to set up quickly and establish a track record with minimal set-up costs and without having to comply with onerous regulatory obligations. We recommend the BVI Incubator Fund as a step beyond the unofficial closed end company fund. The Incubator Fund also files a Semi-Annual Return before July 31st. The Incubator Fund files a Financial Statement before June 30th (or six months after its financial year end) along with a Director's Certificate. It pays an Annual License Fee of $1,000 to the BVI government by March 31. The Incubator Fund files an Annual Return with the BVI Financial Services Commission (FSC) before January 31st. The Incubator Fund has four annual compliance obligations. Alternatively, it can wind up its operations. ![]() ![]() At that point, if the fund has proved to be viable, it will need to convert to a Private, Professional or Approved fund. BVI Incubator Hedge Fund Compliance The Incubator Fund is aimed at the start-up manager looking to launch quickly (approval is given within two days of submitting a complete application) with low cost, minimal regulatory hurdles and no mandatory functionaries (i.e., administrator, auditor, investment manager, etc.) It can operate as an Incubator Fund for up to three years.
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