In recent years, the fund industry in Gibraltar has seen rapid and impressive growth, and it continues to expand at a phenomenal rate. As a result, Gibraltar has become a serious option for individuals and companies considering where to base investment funds.
Hassans has been at the forefront of this development, advising both the Government of Gibraltar and most of the funds domiciled in Gibraltar. There are many types of funds in Gibraltar including:
A fund that is offered to a restricted class of up to 50 investors, is exempt from any licensing requirements and must remain private for a year from the date of offer.
Experienced Investor Funds (EIFs)
One of the most exciting and competitive innovations in the Gibraltar fund industry is the Experienced Investor Fund (“EIF”). An EIF is a fund which is highly versatile and lightly regulated. Investors in these funds must:
- be investment professionals,
- have a net worth in excess of €1,000,000; OR
- invest a minimum of €100,000 in the fund.
An EIF can be set up in a matter of days and does not require prior regulatory approval.
Protected Cell Companies
The use of a Protected Cell Company (“PCC”) allows a fund to be set up so that assets and liabilities are split between different ‘cells’. Each cell then serves as a sub-fund, which can be used by separate clients or by one client wishing to promote several investment strategies.
There is no limit to the number of cells a PCC may create, and they may be licensed as EIFs or Retail Funds.
Five Hassans’ trainees called to the Bar and enrolled as solicitors of the Supreme Court of Gibraltar.
We are delighted to congratulate Omri Bouton, Patrick Gill, Caroline Lane, Gabby McGhie and Jesse Monteverde who were called to the Bar today and enrolled as solicitors of the Supreme […]
The Gibraltar Government have confirmed the publication of the Limited Partnerships Bill and the Protected Cell Limited Partnerships Bill, providing a modern and robust framework to the funds industry in […]
A review into the Alternative Investment Fund Managers Directive (2011/61/EU) (“AIFMD”) was launched yesterday by the European Commission following their report issued in June 2020 which assessed the application and scope […]
Hassans’ Head of Funds and Deputy Chairman of Gibraltar Funds and Investment Association, James Lasry, recently wrote on the versatility of the Experienced Investor Fund regime, specifically noting that the […]
Following a joint effort from Her Majesty’s Government of Gibraltar (“HMGoG”), the Gibraltar Funds and Investments Association (“GFIA”) and the Gibraltar Financial Services Commission (“GFSC”) with guidance from Paul Hastings […]
The Legal 500 wheels keep turning despite lockdown; Hassans ranked top in all categories of Legal 500 2020
Whilst not much is guaranteed during this strange time, the people behind ranking law firms in the legal directories can, in an oddly reassuring way, always be relied on to […]
This note sets out the application of EMIR and EMIR Refit to Alternative Investment Funds. EMIR & EMIR REFIT Regulation (Eu) No 648/2012 of the European Parliament and of […]