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Funds Funds

Gibratlar Funds

Hassans' 'highly engaged team of professionals' has expertise in all types of structures, including experienced investor funds (EIFs) and private funds - Legal 500

The funds industry in Gibraltar has seen rapid and impressive growth, establishing itself as a leading choice for individuals and companies looking for a leading jurisdiction in which to establish their investment funds. This expansion is underpinned by Gibraltar’s advantageous legal and regulatory framework, its political stability, and its tax-efficient environment, making it a serious option for fund establishment.

At the forefront of this burgeoning sector is Hassans’ Funds Team. Led by Partner Aaron Payas, our team offers industry-leading experience and expertise, assisting with:

  • Incorporation of funds;
  • Structuring advice;
  • Regulatory and tax advice;
  • Drafting corporate documents (memorandum and articles of association);
  • Introductions to and collaboration with local service providers (Administrator, Auditor, Company Secretary);
  • Registration of funds with the Gibraltar Financial Services Commission (GFSC).

Hassans Expertise

Hassans has been involved in the Gibraltar funds industry since its inception.  It has unparalleled expertise in the field. Please find a list of recent news and developments relating to the industry and of Hassans’ activity in the space, below:

 

Article Summary
New dual regime for Gibraltar Gibraltar funds may now opt out of the AIFMD regulations so that they can be completely competitive with funds from the Channel Islands...
The Renaissance of Gibraltar Funds As crypto funds dramatically surpass the performance of fiat investments, here are five mission critical elements that you need to...
New legislation a breakthrough for the Gibraltar funds industry Following a joint effort from Her Majesty’s Government of Gibraltar (“HMGoG”), the Gibraltar Funds and Investments Association (“GFIA”)...
Brexit, Limited Partnerships and opportunities for Gibraltar Funds I recently wrote a piece in the Gibraltar International Magazine with my Gibraltar Funds & Investments Association hat on. Although 2020...

 

Fund Structuring

There are a number of ways a fund can be structured in Gibraltar:

Experienced Investor Funds (EIFs)

A Gibraltar experienced investor fund is a regulated fund for either experienced or high net worth investors. EIFs are authorised and regulated by the GFSC.

There are a number of benefits to setting up an EIF including:

  • an EIF can invest across any asset class;
  • the Fund is able to launch without the need for regulatory pre-approval, providing they adhere to post-launch procedure;
  • able to be tokenised through the use of approved technology solution providers;
  • each cell may have a different investment strategy and fee structure; and
  • one or any number of investors may participate in the investment through subscription to that cell.

EIFs can be set up in a number of ways, including:

  • a regulated EIF structured as a private limited company;
  • a regulated EIF structured as protected cell company (PCC)*;
  • a regulated EIF structured as a limited partnership; or
  • a regulated EIF structured as a protected cell limited partnership (PCLP)**.

*Protected Cell Company (PCC): A PCC allows for the creation of different sub-funds with distinct strategies and fee structures.

**Protected Cell Limited Partnership (PCLP): This allows for the creation of different sub-funds with their own unique strategies and fee structures. A PCLP is structured differently however as it is governed under a partnership agreement entered into between the general partner and the limited partners of the fund.

Private Funds

Private funds differ to EIFs as although upon launch they must be registered with the GFSC, they are not authorised or licenced by the regulator.

A private fund may invest across any asset class and must be established as limited companies or as limited partnerships. This type of fund cannot be structured as a PCC or PCLP.

There are certain promotion restrictions that apply to this type of fund, including:

  • the number of persons to whom the offer is communicated must not exceed 50; and
  • the offer must be made in respect of shares in the private fund and the fund will remain private for at least one year after the date that the offer is made (upon such time at which it can then be converted into a regulated EIF.

You can set up a Gibraltar EIF in 6 easy steps!

Funds generally take 6-8 weeks to set up in Gibraltar and our team will work with you every step of the way. Contact aaron.payas@hassans.gi for an initial meeting and to find out more.

Contact us

For more information, get in contact with our Funds team below. You can also call us on +350 20079000 or email us at info@hassans.gi.

 

Funds Team

Aaron Payas, CFA

Head of Funds, Partner

James Lasry

Head of Financial Services, Partner
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