BVI Approved Investment Manager License

• Before moving ahead with your license application, our team conducts an initial consultation. In this meeting, we evaluate your business model, funds, and see if you are fit to apply for the approved manager’s license. Our experts also confirm that your BVI qualified funds are within the asset limits (that is $400 million for open-ended, and $1 billion for closed-ended funds) 

• After the initial consultation, Tetra Consultants then move on to prepare the necessary documents. This usually consists of lists and details of the funds to be managed. Our team also confirms all the details about the planned fund activity, the intended date to start business, and if there are any delegations of the business functions.  

• Based on the documents you have provided, our team then moves ahead with preparing your business plan, compliance manual, and other documents required for the BVI Approved Investment Manager License.  

• After preparing the necessary documents, Tetra Consultants will then move ahead with submitting your application form to the BVI Financial Services Commission (BVI FSC). Our team includes all the relevant documents that may be needed and ensures that the application form is signed by a director or general partner.  

• The FSC then reviews your business application, and it may request additional clarification to ensure compliance. At Tetra Consultants, our team communicates with the FSC and provides all the additional clarifications and ensures that the process goes smoothly.  

• Once your application is approved, you will get the license from the FSC. Through this license, you can easily begin your business operations.  

• After getting the license, at Tetra Consultants, we also provide regulatory compliance consulting services and corporate bank account opening services. Tetra Consultants then file for the annual returns and financials with the FSC. Our team also ensures compliance with the AML/CTF regulations and promptly notifies the FSC if there are any significant changes or if your fund exceeds AUM thresholds.   

Common challenges and how we can help 

• While the procedure to get the BVI Approved Manager License is efficient and cost-effective, applicants usually face multiple challenges during the process. Now, without adequate guidance, applicants make several mistakes, which lead to the delay or their application being rejected. Here are some common challenges and how Tetra Consultants help: 

Incomplete documentation  

• There are many applications that get delayed because they are mission-critical documents, or the application form is not filled with the required documents, like the business plan or compliance manual. At Tetra Consultants, our team prepares all the documents on your behalf and ensures that they are correctly filed with your application to ensure that there are no delays.  

Communicating with the FSC  

• Communicating with the FSC or following up is a tedious process. Applicants who are not familiar with the local regulatory practice find it difficult to communicate with the FSC to answer necessary queries or provide further clarification.  

• At Tetra Consultants, our team communicates with the FSC on your behalf. We provide a reliable channel for all regulatory communication, which reduces the risk of missing any regulatory requirements. 

Understanding regulatory requirements  

• Applicants often fail to interpret the eligibility criteria. This further leads them to file their application with the incorrect documents or fail to fulfill the ongoing compliance obligations.  

• At Tetra Consultants, our team easily interprets the regulatory requirements, clarifies eligibility criteria, and provides up-to-date insights into the BVI rules. This helps to streamline the entire application process and reduce any errors.  

AML compliance  

• Applicants find it difficult to draft the AML procedures and appoint a qualified MLRO officer with specific knowledge of the BVI regulatory framework.  

• At Tetra Consultants, our experts draft the AML manuals and also help you with the appointment of the MLRO officer. Our teams ensure compliance with the BVI anti-money laundering standards to ensure that there are no penalties in the future.  

Requirements for BVI Approved Investment Manager License 

• Eligibility 
  • The applicant should be a BVI business company or a BVI limited partnership. 

• Assets under management (AUM) limits 
  • Open-ended funds- These funds are up to $40 million.  
  • Close-ended funds- These funds are up to $1 billion.  

• Corporate governance  
  • At least two directors for companies 
  • At least one general partner for a limited partnership  

• Ongoing regulatory obligations  
  • License holders will have to pay the annual FSC renewal fee  
  • File annual return and AML return with FSC  
  • Submit annual financial statements (not mandatory to be audited) that are signed by a director or general partner 
  • Appoint and maintain an AMLRO, also maintain AML/CTF policies 
  • Notify the FSC if there are any new changes in the business information or if the AUM is more than the regulatory caps  
  • It is mandatory to appoint a BVI authorized representative to act as liaison with the FSC 

Documents needed for BVI Approved Investment Manager License

• Certificate of incorporation or limited partnership agreement 

• Charter or Articles of Association  

• Memorandum of Association or Deed of Partnership  

• Resume or CVs of each director, general partner, and senior officer of the applicant company and partnership 

• Resume of each individual who will carry out the day-to-day investment business functions of the company 

• Copies of the Investment management or advisory agreement will be needed between the applicant and each fund or person to whom the services will be provided 

• Number and details of each fund that the applicant intends to manage or advise (includes name, address, and jurisdiction) 

• Offering documents or certificates of incorporation for the funds 

• Confirmation and details regarding the delegation of relevant business functions, which consists of delegation agreements and delegates’ profiles 

• A written declaration by the authorized representative or legal practitioner of the applicant stating that the application is complete and fulfills all the regulatory requirements 

• A written confirmation from the BVI-licensed legal practitioner of the applicant agreeing to act for the applicant 

• A copy of the AML and counter-terrorism financing policies of the applicant and procedures 

How can Tetra Consultants help with BVI Approved Investment Manager License?

• Getting a BVI Approved Investment Manager license is a difficult procedure for the fund managers, as the process requires careful planning, regulatory understanding, as well as strict adherence to the BVI FSC. At Tetra Consultants, our team has years of experience in offshore licensing and regulatory compliance, along with a strong track record of helping our clients. Here are the reasons why our clients choose us: 
  • End-to-end services- Our team provides assistance throughout the process, from incorporating the BVI business company to preparing documents and offering regulatory compliance support.  
  • Track record– Tetra Consultants has a successful track record of guiding investment managers, hedge funds, and private equity firms.  
  • Ongoing support– Our team is there with you at every step, we will help you with annual filings, provide advisory support. And compliance updates so that your business grows.  
  • Global expertise- At Tetra Consultants, our team has worked with multiple clients from various jurisdictions. Our experts understand the multiple needs of fund managers and create solutions to help them.  

Looking to obtain BVI Approved Investment Manager License 

• If you are planning to establish or expand your investment management business, getting a BVI Approved Investment Manager License is significant. BVI is recognized worldwide as a leading jurisdiction for fund management. However, navigating through the application process is a complex step, especially if you are not familiar with the regulatory requirements. At Tetra Consultants, our team ensures that you have a smooth journey, and we are there from beginning to end.  

• Contact us, and our team will get back to you within 24 hours.  

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