At the local level this includes providing BVI directors (both for BVI funds and BVI corporate vehicles), handling the licensing process by working with the BVI FSC and for onshore purposes "we handle all the necessary FATCA, CRS and Annex IV reporting," says Jakubicka.Ĭircle is able to support hedge funds as well as private equity strategies. In addition, Circle provides ancillary services. We provide 24/7 support in terms of the incorporation of all structures that are required the fund itself as well as the management company, which we help to set up for the client in their preferred jurisdiction," explains Jakubicka. "It's a real advantage being able to provide this kind of full service to clients these days than in the past, mainly because of the higher costs and barriers to entry. A start-up manager can draw upon the experience and network of a single service provider rather than spending time (and money) appointing each service provider to the fund.Ĭircle helps put in place a legal team to draft all of the constitutional and offering documents for the fund (Offering Memorandum, Investment Management Agreement, Memorandum & Articles of Association, etc) in cooperation with local legal counsels, open bank and brokerage accounts for the fund, and once the fund is set up, Circle performs all of the administration and transfer agency services work. "These vehicles have been the main driver of business for us in the BVI and we've seen continued interest in the first few weeks of January this year this is partly due to the fact that Cayman has not introduced anything similar in the last few years, which gives the BVI a bit of an advantage."įor those looking to set up a BVI fund, Circle will guide people through the whole process of bringing a new fund to market. ![]() "We've seen a lot of growth in new BVI fund vehicles over the last 12 months – both the Incubator Fund and the more popular Approved Fund," reflects Peter Jakubicka (pictured), Business Development Manager at Circle Partners.
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