This is again a client case which we have anonymised in order to be able to show it here for the help of those who paid for a Mentor Group subscription.
Client initial question:
I would like to know if I need to register for another IBC company for purposes of setting up the private fund or I can just work with the current company (seychelles IBC) ?
Also is it necessary to have a registered fund manager for a private fund? Is it a must? What list of available fund managers is there is Seychelles?
I will be interested to find out the array of fund managers that you work with in order for me to select one based on their trading and investment strategies. Also send me the requirements and the costings.
On the other hand, help me understand the process of getting an investment advisor license and the costings, as well as the operational guidelines under which as an investment advisor I will operate under.
The purpose of the fund is for pure diversification on all investment asset classes without a limit to derivatives.
Or suppose we do want to manage the fund internally, what are the requirements of getting a fund management license through our Seychelles company? And what costs are we looking at and for what duration?
A fund licence would only be applicable if there was pooling of funds amongst a group of investors. If all the funds belong to one person or a handful of connected individuals the company would be just an ordinary investment company.
Whereas a simple investment company is straightforward to setup (and qualifies for low fees) an actual Fund company would take anywhere between 1 month and 3 months to setup. You would need a fund administrator (we could introduce you to one).
Fees to setup a Fund (a mutual fund) would cost around USD 15000. At present Seychelles is very much a ?newbie? when it comes to funds.
