We have not only deals with clients; we build relationships, relationships that are marked with a promise to put in our maximum and see our clients succeeding.
Investment funds are governed by the Bahamas Mutual Funds Act, 1995 and the Bahamas Mutual Funds Regulation, 1995.
In 2003 were adopted the Investment Funds Act, 2003 (the “IFA”) and its accompanying regulations, the Investment Funds Regulations, 2003 (the “IFR”). These acts formulate the concept of SMART Fund based on English common law. Regulation and supervision of the funds activities are carried out by the Securities Commission of the Bahamas (the “Commission”).
The SMART Fund is a specific mandate alternative regulatory test fund suitable for innovative structuring of investment funds. It was previously used mostly family businesses and private investors. To attract a broader range of investors there has been developed seven SMART fund templates.
The most popular among the investors are SMART funds 002 and 004 (for small number of investors) and SMART fund 007 for super qualified investors.
SMART Fund 002
We help our customers with a diverse set of services ranging from consulting to managerial support.
The investors (maximum 10 people) must comply with the criterion of an ‘Eligible Investor’, namely to be either a physical person with an annual income of more than 200 000 USD or a legal entity (its beneficiary must also meet the criterion of an ‘Eligible Investor’). The fund may be licensed and launched same day through an Unrestricted Fund Administrator or 72-hour response through the Commission.
SMART Fund 004
It is a reliable investment tool for a narrow circle of business partners or family. It is effectively used for the separation of the family business from the rest of the family assets. Investors (no more than 5 people) are not limited by annual income.
SMART Fund 007 (Super Qualified Investment Fund)
There is a minimum investment of US$500,000 and it is possible to delegate fund administrator authority to any respectable person in any jurisdiction allowing the fund to get a very qualified administrator.
The fund is profitable for well-qualified corporate investors, and for those who are engaged in professional asset management, has an active investment activity at the international level. The number of investors vary from 1 to 50.
The funds are virtually exempt from all dues and payments. The country has a rule that investments to the fund are not taxed and inheritance applies the reduced rate. The funds are highly protected from claims of shareholders, the compulsory share of inheritance and foreign legislation (e.g., tax legislation).
If the investment fund has shares for sale to a prospective investor in the amount of at least 50 thousand dollars, or these shares listed on the Stock Exchange (including the OTC market), as reported by the “Commission” in the local newspaper “Gazette “, it may be engaged in business activities in the territory of the Bahamas. There is no external audit and exchange control. Investors have the rights to full privacy and to transfer fund to another jurisdiction.
We are a Consulting Service Firm based in London, Dubai, Singapore and Hong Kong, with Affiliates and Partners in many World Financial Capital City.