| Summary at a glance |
|
|
|
| Types of funds? |
|
|
|
| How long to setup the hedge fund vehicle? |
1 week |
1 week |
1 week |
| How long to launch the hedge fund? |
Up to 12 weeks |
Up to 12 weeks |
Up to 12 weeks |
| Does our Client need to travel to complete fund setup? |
No |
No |
No |
| Minimum investment required? |
Up to US$1,000,000 |
Up to US$1,000,000 |
Up to US$1,000,000 |
| Regulatory Authority? |
JFSC |
BVIFSC |
CIMA |
| Government approval required? |
For collective investment fund |
For open-ended funds |
For open-ended funds |
| Local registered address required? |
Yes |
Yes |
Yes |
| Local directors required? |
Yes (unclassified funds) |
No |
No |
| Resident registered agent required? |
No |
Yes |
No |
| Resident manager required? |
Yes (unclassified funds) |
No |
No |
| Total hedge funds setup costs (excl. Government fees) |
US$25,420 |
US$26,900 |
US$29,241 |
| Hedge Fund Registration |
|
|
|
| Minimum number of directors required? |
1 |
2 |
2 |
| Resident directors required? |
Yes (unclassified funds) |
No |
No |
| Corporate directors allowed? |
Yes |
Yes (except public funds) |
Yes |
| Individual directors allowed? |
Yes |
Yes |
Yes |
| Managers must be appointed? |
Yes (except unregulated fund) |
No |
No |
| Minimum number of managers required? |
1 |
0 |
0 |
| Resident manager required? |
Yes (unclassified funds) |
No |
No |
| Must managers be licensed by the government? |
Yes (expert funds) |
Yes |
No |
| Minimum number of agent required? |
0 |
1 |
0 |
| Resident agent required? |
No |
Yes |
No |
| Public register of shareholders and directors? |
Yes |
No |
No |
| Accounting and tax considerations |
|
|
|
| Statutory corporate income tax payable? |
0% |
0% |
0% |
| Audited Financial Statements to be submitted? |
Yes |
Yes |
Yes |
| Must engage a local audit Firm? |
No |
No |
Yes |
| Annual tax return to be submitted? |
Yes |
Yes |
Yes |
| Access to how many double taxation treaties? |
31 |
2 |
0 |
| Statutory audit required? |
Yes |
Yes |
Yes |
| Annual tax return to be submitted? |
Yes |
Yes |
Yes |
| Withholding tax payable on dividends to foreign shareholders? |
No |
No |
No |
| Can hedge fund hire expatriate staff in the country? |
Yes |
Yes |
Yes |
| Logistical considerations |
|
|
|
| Can issue invoices/sign sales contracts with local Clients? |
No |
No |
No |
| Can rent office premises in the jurisdiction? |
No |
No |
No |
| Bejarano ADF Consultants PLC’s Employment visa fees? |
US$3,950 |
US$3,950 |
US$3,950 |
| Average monthly salary for hedge fund employee? |
US$25,000 |
US$25,000 |
US$25,000 |
| English spoken rate (% of population) |
95 |
75 |
95 |
| Literacy rate (% of population) |
99 |
98 |
99 |
| Computer literacy rate (% of population) |
49 |
47 |
71 |
| GDP per capita? |
US$57,000 |
US$42,300 |
US$43,800 |
| Population (in thousands) |
95,732 |
31,912 |
53,737 |
| Unemployment rate? |
1.7% |
8.7% |
4% |
| Inflation rate? |
3.7% |
2.2% |
1.2% |
| Bejarano ADF Consultants Group PLC’s fees |
|
|
|
| Total hedge funds setup costs (excl. Government fees) |
US$25,420 |
US$26,900 |
US$26,900 |
| Subsequent annual costs (incl. accounting & tax) |
US$10,700 |
US$11,710 |
US$10,720 |
| Estimate of Government fees |
US$570 |
US$570 |
US$4,391 |
| Standard invoice? |
View invoice PDF |
View invoice PDF |
View invoice PDF |
