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Fund Services

Fund Services

We are committed to providing one-stop fund services, and assisting clients to meet legislative, regulatory and compliance requirements. We assist clients in establishing funds and managers overseas and provide a full range of administrative services, including entity registration, corporate governance, custody services, Anti-Money Laundering (AML) and CRS/FATCA compliance services, fund administration, and annual compliance and maintenence.

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Fund Structure Establishment & Maintenance

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Set up Fund and Manager entity in popular offshore jurisdictions, file changes and regular annual maintenance, set up SPV entities under the Fund and file changes and regular annual maintenance.

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    Fund Structure Establishment & Maintenance - Cayman Islands

    We could assist to set up fund structures in the form of Exempted Company (EC), Exempted Limited Partnership (ELP) and Segregated Portfolio Company (SPC), and filing changes, registrations, annual renewals, and ongoing compliance maintenance.
    Additionally, we could assist to set up Manager or Advisory companies, and filing changes, registrations, annual renewals, and ongoing compliance maintenance.

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    Fund Structure Establishment & Maintenance - British Virgin Islands

    We could assist to set up fund structures in the form of Business Company (BC), Limited Partnership (LP) and Segregated Portfolio Company (SPC), and filing changes, registrations, annual renewals, and ongoing compliance maintenance.
    Additionally, we could assist to set up Approved Manager entity companies, and filing changes, registrations, annual renewals, and ongoing compliance maintenance.

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    Fund Structure Establishment & Maintenance - Hong Kong

    We could assist to set up fund structures in the form of Limited Company, Limited Partnership Fund (LPF) and Open-ended Fund Companies (OFC), and filing changes, registrations, annual renewals, and ongoing compliance maintenance.

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    Special Purpose Vehicle (SPV) Company

    Establishment of SPVs company under the Fund structure in various popular offshore jurisdictions (for instance, Cayman Islands, British Virgin Islands, Hong Kong), including filing changes, registrations, annual renewals, and ongoing compliance maintenance.

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Regulatory Registration

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For insure the compliance and regulatory requirements of regulatory, we could assist to provide registration and maintenance services with the regulatory for funds and management companies in different jurisdictions (such as the Cayman Islands, British Virgin Islands, Hong Kong, etc.).

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    CIMA Registration for Cayman Funds and Managers

    For funds and management companies in the Cayman Islands, we could assist to register fund licenses and management company licenses with the Cayman Islands Monetary Authority (CIMA), including private fund license, mutual fund license, and registered persons license (management/consulting companies), and maintain the fund/management company annual renewal with the CIMA.

    Furthermore, in accordance with the CIMA requirements of filing changes for licensed funds or management companies, if there are any changes to the information provided when the registration of the license with the CIMA for the fund or management company, those changes must be updated with the CIMA within 21 days. To meet the compliance operational needs of funds and management companies, we could assist to file the changes with the CIMA, including change of name of General Partner/Fund/Manager, change of director, change of Anti-Money Laundering Officers, change of Fund Administrator, change of auditor, and other fund-related information.

    Licensed funds are required to submit audited financial statements to the CIMA. After submitting the audited financial statements, the fund must also submit a Fund Annual Return (FAR) and then pay the FAR fee to the CIMA. We could assist with the payment of FAR fees to the CIMA. Furthermore, we could assist with the registration and payment of annual renewal fees for directors of mutual funds and registered persons.

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    FSC Registration for BVI Funds and Managers

    For funds and management companies in the British Virgin Islands (BVI), we could assist with the registration of fund and management company licenses with the BVI Financial Services Commission (BVI FSC), including approved funds, incubator funds, private investment funds, and approved managers (management/consulting company), and maintain the fund/management company annual renewal with the FSC.

    In accordance with the compliance and regulatory requirements of the BVI FSC, if there are any changes to the information provided when the registration of the license with the FSC for the fund or management company, those changes must be updated with the FSC within 14 days. To meet the compliance operational needs of funds and management companies, we could assist to file the changes with the FSC, including change of name of General Partner/Fund/Manager, change of director, change of Anti-Money Laundering Officers, change of Fund Administrator, and other fund-related information.

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AML Compliance

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All relevant Financial Service Providers (FSP) must comply with the Anti-Money Laundering (AML) regulations and compliance requirements, establish AML procedures and internal control system requirements. Including appointing an Anti-Money Laundering Compliance Officer (AMLCO), a Money Laundering Reporting Officer (MLRO), and a Deputy Money Laundering Reporting Officer (DMLRO) (together as “AML Officers”) to establish and execute AML procedures. Continuous monitoring and arrangements for internal audits, ongoing monitoring with regular reporting to the Board of Directors, establishing a process for reporting suspicious activities, conducting Customer Due Diligence (CDD), assessment, monitoring, and management of business risk measures, implementation of systems to identify money laundering/terrorist financing risks and detect applicable sanctions lists, employee screening and training procedures and maintainance of comprehensive records. To fulfill the Anti-Money Laundering requirements and compliance function of the Cayman Islands or British Virgin Islands, we provide a full range of compliance services.

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    Appointment of AML Officers

    We are providing appointment of Anti-Money Laundering Compliance Officer (AMLCO), Money Laundering Reporting Officer (MLRO) and Deputy Money Laundering Reporting Officer (DMLRO) services to the Financial Institution, such as fund and manager, who are conducting with financial relevant activities in each jurisdiction, we could offer our client highly skilled and experienced professionals to act as AML Officers.

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    Know-Your-Customer (KYC)

    When establishing a business relationship, Financial Institutions should take adequate steps to know who their underlying customers are, and take appropriate due diligence measures to ensure the AML compliance frame work. GIL provides the following with regard to Anti-money Laundering and Counter-Terrorism Financing (AML/CFT) framework:

          · Identify the underlying customers or investors, and obtain CDD required documentation and information on the purpose and intended nature of the business relationship.

          · Conduct On-going Due Diligence

          · Carry Out Risk Assessment

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CRS&FATCA Compliance

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To meet the compliance requirements of Automatic Exchange of Information (AEOI), we could provide CRS & FATCA reporting services for different jurisdictions (such as the Cayman Islands, British Virgin Islands, Hong Kong, etc.).

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    CRS & FATCA Annual Reporting

    We can provide one-stop reporting services for funds and management companies, including:

          · Register Financial Institution account with the relevant Tax Information Authority (TIA/ITA) in each jurisdiction for entities classified as financial institutions.

          · Appoint a primary contact (primary user) and authorized person (secondary user) (to liaise with the relevant Tax Information Authority (TIA/ITA) in each jurisdiction).

          · Making CRS & FATCA Annual Retunrs

          · CRS Compliance Annual Reporting

          · Register Global Intermediary Identification Number (GIIN) with the the Internal Revenue Service (IRS) of United States for entities classified as financial institutions

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    AEOI Compliance Manual

    To meet the compliance requirements of the relevant Tax Information Authority (TIA/ITA) in each jurisdiction for financial institutions, we could provide AEOI compliance manuals to financial institutions in each jurisdiction.

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Fund Administrator

We provide comprehensive administration services for funds, management/consulting companies and their special purpose vehicles (SPVs) in various jurisdictions (e.g. Cayman Islands, British Virgin Islands, Hong Kong, etc.). We also provide administration services for various types of funds (closed-end, hedge funds).

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    Fund Accounting

    NAV calculation (quarterly/semiannual/annual valuation)

    Maintenance of accounting records

    Waterfall distribution calculations for carried interest in accordance with the partnership agreement

    Management fee computation

    Investment reconciliation

    Preparation of financial statements: Balance Sheets, Income Statements, Investment Portfolio Reports

    Liaison with auditors for audit support

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    Investor Services

    Preparation and distribution of capital account statements

    Issuance of capital call/distribution notices

    Investor inquiry resolution

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    Annual Financial Reporting

    Preparation of annual financial statements compliant with IFRS standards

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    Additional Services

    Distribution of notifications and reports through the Investor Portal service

Fund Structure Deregistration

  • Deregistration with the CIMA

    For Cayman Islands licensed funds and management companies, we assist with the deregistration of fund and management company licenses with the CIMA, including private funds, mutual funds, and registered persons (management/consulting firms).

    After the completion of deregistration of fund or management company license with the CIMA, we assist with the deregistration or voluntary strike off of the fund entity, general partner, management/consulting firm, or special purpose vehicle from the Cayman Islands Registrar.

  • Deregistration with the FSC

    For British Virgin Islands (BVI) licensed funds and management companies, we assist with the deregistration of fund and management company licenses with the BVI FSC, including those for approved funds, incubator funds, private investment funds, and approved managers (management/consulting firms).

    After the completion of deregistration of fund or management company license with the BVI FSC, we assist with the deregistration or voluntary strike off of the fund entity, general partner, management/consulting firm, or special purpose vehicle from the BVI Registrar or Corporate Affairs.

Related News

  • Fund Services
  • Fund Structure Establishment & Maintenance
  • Regulatory Registration
  • AML Compliance
  • CRS&FATCA Compliance
  • Fund Administrator
  • Fund Structure Deregistration
  • Related News
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