British Virgin Islands:
Streamlined Approved Manager Product A Key Point For 2022
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During 2022 we expect to see increased use of the BVI approved
manager product. The approved manager has been particularly popular
over the last couple of years with small and medium sized managers,
and crypto managers in particular. They are suitable for open and
closed-ended funds, and managed accounts. Approved managers are
cost-effective to establish and operate, and can be set up and
approved in as little as two weeks. The FSC has a streamlined
approval process, designed to operate in parallel with a new fund
application. Approved managers are subject to light-touch
regulation by the BVI FSC, and are out of scope for the BVI
economic substance regime.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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