A closed-end fund is a fund where the investing shareholders do not have the right to redemption at their sole option (although the directors of the fund could approve a redemption at anytime if a valuation could be calculated and liquid funds were available) - a closed-end fund would either have a fixed term life or would redeem its shares at anytime that its stated investment objective had been achieved. The distinction between a closed-end and open-end fund is important as only open-end funds are required to be regulated by the BVI-FSC, closed-end funds are not subject FSC regulation. Many clients specifically want a regulated entity, so an open-end fund would be their only option. If a closed-end was specifically required then it would not be an FSC regulated entity and the company may not use the word "Fund" it is name. A closed ended fund is unregulated and not covered by the Mutual Funds Act in BVI. Closed ended funds are often used as Hedge Funds, Private Equity Investment Companies etc.
Our Closed End Fund formation package includes:
1) All company documents
2) Corporate Stamp
3) Registered agent/office for first year
4) Detailed Offering Memorandum (Prospectus) and other essential Fund documents tailored to your needs
Formation cost USD 12500.00.
If you have more questions about BVI closed hedge funds please contactanos.
AVIABIZ BUSINESS SERVICE
A member of AVIA and SLOGOLD Group
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