Mutual Funds (Private & Public)

1. A BC must first be incorporated under the Business Companies Act.

2. An application for Registration of a Public or Private Mutual Fund must be submitted.

3. The following link refers to the mutual fund checklist, which provides a guide on the establishment of a mutual fund in SVG: http://svgfsa.com/mdocs-posts/fsa-mutual-fund-checklist/

4. Personal questionnaires must be filled out by the directors.

5. The Offering Memorandum of the Fund is expected to detail the following information:

• Structure of the company-classes of shares
• Investment Objectives (Investment target, investment policies, Risk analysis)
• Description of Directors, Investment Manager, Administrator, Banker/Custodian, Auditor, Legal Advisor, Investment Advisor)
• Investment types (e.g.: stocks, bond, derivatives etc.)
• Risk factors (general and specific risks)
• Fees, compensation, expenses
• Net Asset Value
• Taxation
• Subscriptions
• Redemptions
• Material contracts
• Conflicts of interest
• Anti-money laundering
• Rights of shareholders

1. Other documents to be filed with the Application:

• Articles of Incorporation and By-Laws for the Business Company (BC) or Segregated Cell Company (SCC);
• Application to register the Mutual Fund /Mutual Fund Manager/ Fund Administrator,;
• Offering Memorandum for the Mutual Fund;
• Business Plan/ Projected Income;
  • If the shareholder is a Company, two (2) previous years audited financial statements;
  • A character reference letter for each Director and Shareholder;
  • A bank reference for each Director and Shareholder;
  • A Personal Questionnaire for each Director and Shareholder;
  • Curriculum Vitae for each Director and Shareholder;
  • Certified true copies of certificates for professional qualifications for each Director and Shareholder;
  • Recent Police Records for each Director/Shareholder;
  • Letters of acceptance from legal advisor and auditor;
  • Consent to act as Director from each Director;
  • Fund Management Agreement, Administrative Service Agreement and Custodian Agreement with the Mutual Fund;
  • Due Diligence Fee; and
  • Application Fee (non-refundable).

The application process will take 4-6 weeks, provided that all relevant documents are submitted at the time the application is made.

SCC Mutual Funds

An application must be submitted by a licensed Registered Agent and Trustee in St. Vincent and the Grenadines. See the following link to the list of licensed Registered Agent and Trustees: 
http://svgfsa.com/service-providers/.

2. In order to form a SCC Public Mutual Fund, an SCC must first be incorporated under the Business Companies Act.

3. An application for Registration of a Public Mutual Fund must be submitted, which can be found on page 20 of the Mutual Funds Regulation, which can be found at the following link:  http://svgfsa.com/mdocs-posts/application-for-registration-of-a-public-mutual-fund/

4. The following link refers to the mutual fund checklist, which provides a guide on the establishment of a mutual fund in SVG: http://svgfsa.com/mdocs-posts/fsa-mutual-fund-checklist/

The Offering Memorandum is expected to detail the following information:

• Structure of the company-classes of shares
• Investment Objectives (Investment target, investment policies, Risk analysis)
• Description of Directors, Investment Manager, Administrator, Banker/Custodian, Auditor, Legal Advisor, Investment Advisor)
• Investment types (e.g.: stocks, bond, derivatives etc.)
• Risk factors (general and specific risks)
• Fees, compensation, expenses
• Net Asset Value
• Taxation
• Subscriptions
• Redemptions
• Material contracts
• Conflicts of interest
• Anti-money laundering
• Rights of shareholders

 The application process will take 4-6 weeks, provided that all relevant documents are submitted at the time the application is made.

Please click here for a complete, current list of Mutual Funds.