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Agreement on Processing of Personal Data CZ / EN

TRUST & HEDGE FUND

  • TRUST

    International trust and asset protection trust structures

    Offshore Asset Protection Trust or Trust International is, when properly executed, one of the best available means for protection of property. Like Panama Foundation it allows legally transfer your assets from the reach of future creditors and place them behind a protective barrier over which no one could penetrate.

    The principle of trust for asset protection is simple: the assets are transferred from your name to the international trust. You specify the trustee, settlors and beneficiaries and you manage assets of the international trust for the benefit of those beneficiaries.

    Only a few jurisdictions have laws to support this kind of international assets protection, Cook Islands, Isle of Man, Nevis and Belize. All four countries have laws on international trusts, which provide maximum protection of property and these countries are politically and economically stable.

    Legal experts agree that the Cook Islands have the most proven history of case law and therefore are our first choice. A close second is Belize, which provides maximum privacy and the costs are lower than in the Cook Islands. Both of these countries are the favorites, ideal for creating and managing a asset protection trust.

    This paper discusses the international trusts. Panama Foundation is a hybrid between trusts and corporations … modern cousin of international trust. More information on this form can be found in the article: The Panama Foundation for Asset Protection.

    Advantages of international trust

    The two main advantages of an international trust are 1) protection of property 2) while maintaining control over your property. Investments are beyond the reach of creditors, because the judges of the United States do not have judge jurisdiction over citizens of a foreign country (your trustees or protectors) and do not have jurisdiction over either the International Trust. Local judges are not foreign trustee or Asset Protection Trust is legally compelled to issue funds to someone who says that you owe him money (ie. The creditor). Cook Islands, Belize and Nevis do not recognize judicial decisions originating from a foreign country. To ensure maximum flexibility can be any of these possibilities combined with offshore LLC.

    Note: This article applies only to civil creditors and does not address government demands from the IRS (Internal Revenue Service – the US tax office) or the SEC (Securities and Exchange Commission- Commission Securities and Exchange Commission).

    This means that if the creditor wishes to get to property, he would be forced to sue you in the country where the trust is domiciled. However, Nevis, the Cook Islands and Belize have built against such initiating or evidence significant obstacles towards defendants protection, which is a system that has not existed in the United States over many years.

    For example, on Nevis if the creditor wants to bring an action against Nevis Trust or Limited Liability Company he must pay a deposit of $ 25,000 in cash. In the Cook Islands, the application must prove beyond reasonable doubt that the property was transferred to a trust in order to deceive the relevant creditors (fraudulent conveyance). If the assets were transferred into a trust before creating or debt before the problem arose, it will prove fraudulent intent almost impossible.

    Another example is the fact that the Cook Islands lays down rules on limitation periods that the time limit for the creditor to sue you for fraudulent conveyance is one or two years since the establishment of the basic causes of action, which depends on many factors. Therefore, at a time when the United States ended the litigation, the limitation period of the Cook Islands have normally expired. Even if the creditor have in the United States succeeded, it is probable that the claim will be lapsed in the Cook Islands.

    • Note the inefficiency of the contribution of our American legal system. It allowed the plaintiff to be out of time, while your assets are safe by asset protection trust.

    The latest example is the fact that in the Cook Islands, the plaintiff must prove that your intention when creating a trust to protect the assets was to defraud the particular creditor – and this must prove without a shadow of a doubt. This means that the case is so clear or so has been thoroughly demonstrated that there is no doubt. The phrase “no shadow” could refer to the fact that doubts could be anywhere in the vicinity (wholly excluded from the affairs) or thoroughness of argumentation (with the shadow is much less significant than the actual question). This is really too heavy a burden for plaintiff… reserved for criminal trials in the United States.

    Jurisdictions divergence – asset protection trust planning

    I am convinced that trust in Cook Islands and Belize Trust is providing the strongest and most proven basis for offshore asset protection strategy. First class structure formed by the merger of Cook Islands trust or Belize trust with Nevis Limited Liability Company, allowing you to maximize the benefits from the Cook Islands or Belize also with benefits from Nevis and further diversifies the structure of your international trust. 

    In such a structure can be an asset, such as offshore bank accounts, owned by Nevis LLC Company and LLC may be owned by the trust. Citizen of the United States (you, the founder of the Trust) may be a director of Nevis LLC company, while the trustee is an international person. Director of LLC company has all the legal control of the LLC and signature right for opening bank accounts. The founder of the trust, a citizen of the United States, and has control over the assets has unlimited access to them, and yet none of them owned. 

    If you, your company, your Nevis or Belize LLC trust or trust in the Cook Islands are under attack, you may convert the temporary duties of managing LLC with an authorized and secure trustee. The manager will manage your trust and bank accounts, according to your wishes, you have told him before the problem arose. 

    If your structure grew up, the lender will probably need to initiate the court proceedings in Nevis and the Cook Islands or in Belize, which will be very difficult and expensive and you get most of the benefits of both the defendant-friendly jurisdictions. 

    All of these advantages also apply to the Panama Foundation. 

    Why not to avoid the conflict?

    The advantages described above may protect yourself against significantly motivated creditor who is willing to spend money on chasing after your assets in several jurisdictions. These barriers against attack also mean that a reasonable creditor – the plaintiff estimates the cost and likelihood of success against your international trust and either let the issue be, or it settles for a fraction of the value. 

    In other words, these obstacles created by litigation, the trust to protect assets as deterrents against legal proceedings and collection actions of creditors, to encourage creditors to settle the matter, and deplete commitment to your opponent and his quest for resources well trust created to protect property is for lender expensive and daunting. Then, if it fails, an offshore trust or foundation to provide an insurmountable barrier, which the creditor does not pass through by any civil or groundless lawsuit.
     

    What IS the asset protection and what IS NOT

    Now you have an idea of what you can international trust do for you, let’s talk about what is offshore asset protection and what is not.

    A proper asset protection plan places a portion of your net worth in a few barriers … the more the barriers, the better the protection. Allows you to even the odds of winning the lawsuit and leave the United States that are friendly to creditors, to a jurisdiction that is receptive to the defendant, such as Belize and Cook Islands. Asset Protection Trust will make a difficult target, which can completely dispose of the case or put you in a better bargaining position.

    Protection of property will not:

    1. help you to escape your current or reasonably foreseeable creditors. You should not transfer assets from the United States into an international trust to avoid current lender because it can be a fraudulent conveyance.

    2. reduce or erase your tax liability in the United States. You must (a US citizen and founder of the trust) to report your international trust, your international bank accounts and pay taxes on profits of your Asset Protection Trust American Financial Service (IRS). US citizens must pay taxes on their worldwide revenue earned, including income earned in international trusts and Panama foundations.

    3. allows to hide assets. Asset protection is not based on secrecy; It is focusing on the building of barriers to a recovery operation. Even if your lender had a detailed map of your structure, it should be able to achieve the underlying assets.

    4. It will work well regarding real estate in the US. International trust is best suited for offshore bank and brokerage accounts and other assets outside the United States. US courts have over real estate in the US jurisdiction can simply ignore assets protection trust and request seizure of assets. Holding of ownership rights to domestic property in an offshore trust or offshore LLC company is possible, but it is not recommended, as it provides only limited protection of property and bringing in significant tax consequences.

    5. provide overall planning solutions inheritance. International Trust International will facilitate the transfer of property after death, but should be used in conjunction with the full survivor’s plan, which is in line with survivor and tax codes for your country.

    Investments held by the international trust

    Diversification into international investments, which owns the international trust may reduce portfolio volatility while maintaining yields. Effective diversification requires investing in disparate assets.

    At any moment taking place in different regions of the world unique economic, political and environmental events. Markets in these countries will reflect local conditions and not too much in line with markets in your country. In other words, the fact that times are tough in the United States and the bank pays the minimum interest does not mean that other countries cannot find any opportunities for trading. This important concept is the basis of international estate planning and asset management.

    In addition to portfolio diversification, provides to the offshore investments held by the international trust the high degree of choice and flexibility. A high percentage of more than 80 000 funds traded worldwide is situated offshore. Investing in these funds often requires offshore entity. Functioning offshore and accepting only international structures, allows fund managers to avoid registration in the United States and their supervisory, what allows to offer higher profits to investors significantly. International funds may also be denominated in any major currency and provide collateral or currency diversification.

    International investment not only provides choice and flexibility, but also a high level of privacy, thus reducing potential exposure to investor unjustified litigation. Investment accounts in the United States may be seized by creditors. It is much more complicated offshore … and almost impossible if you are behind a firewall, an international trust or foundation.

    Offshore investments are effective not only to protect property and privacy which offers, but also because fund managers may use methods of hedging risk, not on some domestic markets available.

    Taking this into account, an international trust may be the only means that will be un-American investment manager or broker company to accept when dealing with a US citizen. Counselor will want to represent an entity such as a trust, foundation or LLC company rather than working directly for US citizens or US residents.

    Asset protection trust terminology

    Contempt of court:

    The court in the US may undertake jurisdiction in the United States and inspect people and property. In the case that a defendant is in the country, but its assets are outside the reach of the court, the judge may try to force the defendant to return the property within his jurisdiction.

    If the defendant refuses to return the property, the judge accused him of contempt of court. This means that the court imposes penalties for failure to comply with the judge. The accused can go to jail or being fined, or both, until the property is returned.

    If it is considered that the property was converted into an international trust fraudulently, it is likely that a US judge ordered to be returned. The only way he can be the Asset Protection Trust is broken by an American judge issued a charge of contempt of court, in the case of fraudulent transfer.

    Legal citation: Morris v. Morris, case no. 502005CA006191XXXMB (District sod, 15th Judicial District, Palm Beach County, Florida, 2006), Bowen v. Bowen, 471 So. 2d 1274, 1277 (Fla. 1985), the Federal Trade Commissioner v. Affordable Media, LLC (Anderson), 179 F3D 1228 (9th district. 1999), and In re Lawrence, 238 B. R. 498 (bunker. S.D. Fla. 1998).

    Fraudulent conveyance:

    Transfer to the asset protection trust will generally be respected if it is carried out well in advance before the debt arises or lender makes a claim against the trust settlers. If the conversion is made into an international trust after the debt arises or when the creditor could be reasonably foreseen, it may be considered fraudulent.

    For example, creating an international fund or trust on January 15 and January 20 hurt someone while driving should be a transfer of assets into a trust respected. This means that it is unlikely that the injured party was able to disrupt your Asset Protection Trust.

    If you change any data, and you hurt somebody Jan. 15 and Jan. 20 send funds into a trust for asset protection; the transfer will be considered fraudulent. The judge tells you to return the assets to pay the claim and if you refuse, you may be accused of contempt of court.

    This is just a simple example to illustrate. Each state has its own rules and also applies to federal regulation. The bottom line is this: Set up and fund your asset protection trust as soon as possible, well in advance of any established claim or litigation.

    Clause Jones (Jones clause):

    This is a clause in the international trust, intended to protect you against fraudulent transfers. It rules the administrator to pay any claim that comes from a particular creditor.

    For example, any transfer, regardless of the timing, which would prevent the IRS (see United States v. Raymond and Arline Grant, case no. 00-08986-Civ-Jordan (FL SD 2005)) or state taxing authority to collect taxes, He will be considered fraudulent. Therefore, always include in the agreement a point that administrators mandates that the IRS or the State Office for concession fees (State Franchise Tax Board) always paid. Which protects the author of the draft contract (me) and the founder of the trust (yours).

    In the example above, a car accident, you could create and fund an international trust after an accident, if you join Jones Claus clause which would instruct the trustee to pay the injured party.

    Letter of Wishes (Charter optional):

    Letter of Wishes is an informal and confidential document written by the founder of the trust and designated administrator in which he tells how to manage the international trust. Since the Letter of Wishes is not part of the trust is confidential, it is revocable (most offshore trusts are irrevocable) and can be easily amended.

    The clause on transfer:

    International trust can be created in many jurisdictions. For example, a client might prefer the Cayman Islands because of the availability of a large number of banks and investment advisors. But when attacked by such a trust creditor, Cayman Islands already do not have to look good.

    If the trust clause on transfer, you can, in the event of an attack, choose to move to more favorable jurisdictions such as Belize and Cook Islands. In other words, if it appears that the creditor in the Cayman Islands progresses, it can be moved to Belize and the battle begins anew.

    The transfer can be automatic or conditional on certain events (for example, by the Cayman Islands was claimed) or to administrator can be given privileges to move trust somewhere else.

    Asset protection trust benefits summary

    In conclusion, I would like to summarize the benefits of the asset protection trust established in the island of Nevis, Belize and Cook Islands.

    • You can protect your investment while retaining control over bank accounts and investments.
    • There are fixed time limits for bringing actions of the trust assets.
    • Fraudulent intent must be at allegations of fraud detected by criminal standards.
    • The courts of the Cook Islands and Belize do not recognized or not carried out certain judicial decisions of foreign courts in the context of international trusts.
    • On Cook Islands and Belize there is no bankruptcy law and consequently no provision for recovery (claw back Provisions). The creditor must rely on deception under customary law to invalidate the surrender of assets to the trust.
    • Obstacles to the claims of fraudulent transfer raised in the courts of the Cook Islands or Belize include strict time limits, the requirement to prove fraud beyond a reasonable doubt (the criminal standard) and the absence of bankruptcy law.
    • Procedural law to prevent “hunting expeditions” creditors by limiting the use of written questionnaires court (disclosure of documents or facts, etc.).
    • Obstacles litigation on the island of Nevis: In order to bring an action on the island of Nevis, the applicant must pay a deposit of $ 25,000 in cash and hire a local lawyer.
    • Assets can be transferred between International Trust (Belize and the Cook Islands) and LLC companies (Nevis).
    • Offshore asset protection trust the Cook Islands or Belize in combination with Nevis LLC company provides the highest level of protection of personal property. Of these international structures most benefit when people in high-risk professions (such as doctors and lawyers), those who want to diversify their investment portfolio, commercial vendors (especially those who are approaching retirement) and almost anyone with some decent financial reserve and considering their relocation and / or transfer of its assets outside the United States.

      The point is that a properly designed and maintained international trust created in Belize and Cook Islands leans legal scales in your favor that the protection of property provides the very best.

    COMPARISON OF OFFSHORE TRUST JURISDICTIONS
    Asset protection: Special provisionsBahamasBelizeBermudaCayman IslandsCook IslandsGibraltarvJerseyTurks and Caicos
    FOUNDER´S PROTECTION:
    This founder may be the beneficiaryYesYesYesYesYes
    Control in the hands of founderYesYes
    Protection against subsequent bankrupcyYesYesYes
    PROTECTION OF BENEFICIARY:
    Specific provisions for prodigals beneficiarsYesYesYes
    Preventing forced inheritance lawYesYesYesYesYes
    Specific provisions for non-regnitionYes
    Apply the Hague Convention?NoNoNo
    PROTECTION AGAINST CREDITORS:
    Exclusion Statue of Elizabeth Act (Queen Elizabeth Act)YesYesYesYes
    Trust is invalid if the transfer was fraudulentNoNo
    The creditor must prove fraudulent conveyanceYesYesYesYes
    A clear definition of fraudulent transfersYes
    Separation of creditor claimsYesYesYesYesYes
    Limitation period for of fraudulent conversionYes (2 years)Yes (6 years)Yes (6 years)Yes (1 year)
    OTHER:
    Backwards protection for trust of immigrantsYes
    Joint ownership provisionsYes
    Special exclusion of foreign lawYesYesYesYes
    Choise of law is bindingYesYesYesYesYesYesYes
    Authorized custodian trustee (Executive Manager)Yes
  • HEDGE FUND

    Understanding Mutual Funds
    • Collective investment vehicle that pools money from investors and invests in a number of instruments including stocks, bonds, options, commodities, money market instruments and other investment securities.
    • The income earned through these investments and the capital appreciation realized by the fund, are shared by its investors in proportion to the number of units owned by them.
    • Provides an element of risk spreading through diversification.

     

    Why Seychelles for Mutual Funds?

    Growing popularity of Seychelles as a preferred jurisdiction for establishing and administering mutual funds is reflected in the following two elements:

    Seychelles as a country and popular jurisdictionModern, expedient and flexible Seychelles Mutual fund law
    Proven track record with a steady growth (10%+)Is an extensively researched law
    Outstanding political and social stabilityIs an enabling law
    On the white list of OECD and IMF compliantRegulator flexibility
    Convenient time zone at GMT+4 Enhanced privacy
    Excellent facilities in terms of service providers, communications, service businesses etc.Provides a variety of organizational forms and fund options
    Attractive corporate and personal tax environment and access to tax treatiesAllows the foreign funds from a recognized jurisdictions and Umbrella funds
    Free remittance of profits and capitalno minimum capital requirements or statutory limitations

     

    Statute Law & Licensing Authority

    Seychelles’ statute law on mutual funds is contained in the Mutual Fund and Hedge Fund Act, 2008. The Act governs the exclusion, exemption and authorization of investment funds and contains certain requirements for the formation of such funds, their operation and the offering of shares, units or interests.

    The governing body for mutual funds in Seychelles is the, Financial Services Authority (FSA). The FSA is conferred powers of licensing and regulation of the mutual funds in Seychelles.

    Constitution of funds

    Mutual Funds may be lawfully constituted as a:

    • A Company
      • A company incorporated in under the International Business Companies Act 1994
      • A company incorporated under the Company Act, 1972, in conjunction with the Companies (Special License) Act, 2003
    • Partnership
      • A limited partnership registered in Seychelles under the Limited Partnership Act 2003 or a similar
      • A partnership registered in a recognized jurisdiction.
      • A unit trust
        • A unit trust registered in Seychelles under the International Trust Act 1994, or a similar unit trust registered in a recognized jurisdiction.
      • The most common structure for a Seychelles mutual Fund:
        International Business Company

    Licensed Fund choices

    The Seychelles Mutual Fund and Hedge Fund Act prescribes four different types of funds:

    Private Fund

    • No more than 50 investors
    • Private business connection
    • Aimed at the professional adviser looking to gather together a consortium of investors
    • Prohibits any invitation to public to subscribe for shares
    • No minimum or maximum investment required

    Public Fund

    • A Mutual Fund that is not a Private Mutual Fundo f professional fund
    • Designed to be mass marketed
    • Applicant need to furnish a detailed offering document
    • The Authority will need to be satisfied that all risks and plans of the fund are disclosed upfront to the investors

    Professional Fund

    • Aimed for Professionals of High Net investors with the initial minimum investment per investor being 100,000 USD
    • Recognized Banks, Mutual Funds, Insurance Companies and Securities dealer etc.
    • Exempt Foreign Fund

      • Already licensed as a mutual fund in a recognized jurisdiction
      • Need not require to hold Seychelles fund license
      • Must be administered by a Seychelles licensed fund administrator
      • Is either listed on a stock Exchange or provides for a minimum investment of not less than 100,000 USD
    Umbrella Funds

    The Seychelles Mutual Fund Law is flexible that it caters also for Umbrella funds.

    • consists of multiple sub-funds within the overall fund structure/fund entity that in effect operate as individual investment funds
    • enables funds with different strategies to be created within the same legal structure, reducing the funds’ costs.
    • makes it less expensive and convenient for investors to switch investments from one fund to another
    Fund administrator
    • The Act requires that funds, subject to the prior approval of the Authority, appoint a fund administrator.
    • Seychelles Mutual Funds may only be administered:
    • From within Seychelles by a Seychelles licensed fund administrator or
    • From outside of Seychelles by an approved foreign administrator

    An approved foreign administrator

    • is an entity licensed as a fund administrator in a recognized jurisdiction (Please refer Appendix for the complete list of recognized jurisdictions which includes over 30 of the world’s leading Financial Centers).
    • should obtain ‘approved foreign administrator’ status by applying to the Authority for an exemption

    fund-administrator

    Procedure for setting up a fund

    setting-up-a-mutual-fund

    Application for fund license

    The Authority may authorize a fund provided a complete application is received.

    The documents accompanying an application form for authorization normally include:

    • a current or latest draft offering document in relation to the fund
    • certified true copies of the constitutional documents
    • Personal questionnaire for each director, trustee or general partner (unless the equity interests in the applicant or its controlling shareholder or beneficial owner are listed on a stock exchange of a recognized jurisdiction)
    • written consent of the proposed fund administrator stating its consent to act and the name of the fund
    • written consent of the proposed auditor stating its consent to act as auditor of the fund and the name of the fund
    • written consent of the proposed legal advisor stating its consent to act as legal advisor of the fund and the name of the fund
    • written consent of the proposed Custodian stating its consent to act as Custodian of the fund and the name of the fund
    • Three year financial forecast or cash flow statements
    • any other supporting information or documents as the Authority may require
    • application fee.

    Additional requirements as to public funds and exempt foreign funds include the following;

    • Public Funds
      • a licensed public fund must adopt an offering document.
      • must submit a draft to the Authority for approval and registration prior to each new offering
      • Exempt foreign funds
        • are exempted from the licensing procedure
        • should apply for exemption as an Exempt Foreign Fund by submitting the following documents to the Authority.
        • Fully and properly completed approval application form.
        • certified true copies of the license or other authorization granted by a regulatory body in a recognized jurisdiction
        • proof that the fund is to be administered by a fund administrator licensed in Seychelles.
        • the current or latest draft offering document.
        • The exemption application fee
    Taxation and Government Fees

    Taxation

    Funds are exempt from all Seychelles taxation, except for companies incorporated under the Companies Ordinance 1972 and licensed under the Companies (Special License) Act, 2003, as such companies are tax resident in Seychelles to allow access to the various double taxation agreements to which Seychelles is a party.

    Government Fees

     Application FeeAnnual License Fee
    Private Fund$ 500$ 500
    Public Fund$ 1000$ 1000
    Professional Fund$ 750$ 750
    Except foreign Fund$ 1500$ 1500
    Comparison of Offshore Hedge Fund Jurisdictions
    FeaturesBVICayman IslandsMauritiusSeychelles
    Types of Fund• Private Fund• Licensed l Fund• Professional CIS• Private Fund
    • Professional Fund• Administered Fund• Expert Funds• Professional Fund
    • Public Fund• Registered Fund• Specialized CIS• Public Fund
    • Exempt Fund• Private Fund• Exempt Foreign Fund
    • Close-end Funds
    Types of vehicle• Companies• Companies• Companies• Companies
    • Limited Partnership• Limited Partnership• Trust• Limited Partnership
    • Unit Trust• Unit Trust• Unit Trust
    Incorporation Procedure• Incorporated as and ordinary business company• Incorporated as an exempted company by filling MOA, AOA with Registrar • Application for incorporation are made to the Registrar of companies• Fillig with registrar;
    • By filing MOA, AOA, Prospectus and Agreements with the Registrar of corporate Affairs• For regulated funds before launch CIMA must approve the documents• Application for authorization of CIS and GBC I are made to FSC• Current offering documents
    • Address of the registered office
    • Written consent of the fund administrator
    • For Exempt Foreign Funds
    • Filled in application form
    • Certified true copy of the authorized license from the recognized jurisdiction
    • Certificate of good standing
    • Current or latest draft offering document
    • Proof that the fund is administered by the fund administrator
    Time taked for Incorporation• Same day incorporations possible• Incorporated within 24 hours once the due diligence norms are met• Incorporated within 24 hours once the due diligence norm are met• Incorporated within 24 hours once the due diligence norm are met
    • Professional Funds can carry on business for period of max. 14 days without any recognition
    Local Requirements• Registered Office• Registered Office• Registered Office• Registered Office
    • Min. 1 director• Minimum 2 individual directors• 2 directors based in Mauritius• Licensed Registered Agent
    • Certified copies of the various functionaries to filed with the Registrar of companies if located outside BVI and categorized under recognized jurisdiction • Corporate directors are permitted in certain circumstances• Must have a principal bank account and accounting records based in Mauritius• Min. 1 director
    • The functionaries of Mutual funds can be based out of Seychelles with true copy of certificates registered
    Auditors• A Public fund must appoint an auditor accepted by FSC• A regulated fund must appoint an auditor based in Cayman• Must appoint a local auditor• A Seychelles Funds must appoint an auditor and the auditing of accounts of Seychelles funds and fund administrators can be audited by approved and recognized overseas auditors
    • A Private and Professional fund need not appoint an auditor• Unregulated and Private fund do not have to appoint a auditor
    AAA Group – Excellence in offshore services
    • A leading provider of specialized offshore services in Seychelles.
    • Offers a wide range of Corporate, Trust and Investment Fund services including the incorporation, maintenance and administration.
    • Serves onshore and offshore clients worldwide
    • Professional working relationships with number of bankers, auditors, legal and taxation & industry specialists in Seychelles as well as in other jurisdiction like Mauritius, BVI, panama, Cyprus, Belize etc.
    • Aims at high customer satisfaction by providing tailor-made services to an ever growing client-base, all in compliance with international best practices.

    AAA-group

    What do we offer for Mutual Funds?

    Start-up

    • Providing comprehensive advice on the application process and legal requirements
    • Drafting of offering document / Fund Prospectus
    • Introduction to auditors, Bankers, Legal & Investment Advisors and other functionaries
    • Drafting agreements between the Fund manager and the other fund functionaries / Pls

    Set-up

    • Incorporating the Fund entity (A Company, Partnership or a Trust)
    • Compliance and Regulatory services
    • Provision of registered agent and registered office services for the fund entity
    • Compiling and submitting the Fund license application to the authority for approval
    • Attending to the annual renewal of licenses

    Administration

    • Full reporting and Accounting services
    • Maintenance of books and records namely, share registers, register of directors etc.
    • Net Asset Value calculations

    Investment research

    • Investment Research to support portfolio selection decisions
    Our Core Services
    • Structuring, formation and administration of offshore corporate structures
    • Trust Services
    • Additional Corporate Services – Offshore Bank Account Establishment and Management, Tax planning etc.
    • Private Client Trusts and fiduciary services
    • Accounting services
    • Preparation of offering documents and marketing materials
    • Selected Industry Research
    Fee Schedule for Seychelles Fund | Set up and Administration

    We are pleased to share the Fee Schedule to you as under:

    • A. Fund Set-up – One off first year fees
    Sr. No.ParticularsCost (USD)
    1.Professional Fee
    Which includes; collation, preparation review and filing of Fund Licence application documents, basic review of offering document, assistance with initial set up and organization of the fund and liaising with regulator and other service providers
    9,000 – 15,000
    2.Preparation of the private offering memorandum
    Standard document free of charge; any customizations or changes may have some charges
    3.Government Fees – Application Fee750
    4.Government Fees – Fund Licence fee750
    TOTAL:10,500 – 16,000
    • B. Fund – Annual Renewal Fees
    Sr. No.ParticularsCost (USD)
    1.Annual fee for continuation and Maintenance of the Fund5,000
    2.Government Fee – Annual Licence Renewal Fee750
    TOTAL:5,750
    • C. Fund Entity Set up : IBC Formation – First year Fees
    Sr. No.ParticularsFee (USD)
    1.Incorporation fee
    (Including incorporation documents preparation, submission and government Fee of USD 100 and Tax of USD 15)
    350
    2.IBC Registered Office Fee200
    3.IBC Registered Agent Fee200
    TOTAL:750
    • D. Fund Entity: IBC: Annual Renewal Fees
    Sr. No.ParticularsFee (USD)
    1.Annual Renewal fee
    (Including government annual fee of USD 100 and Tax of USD 10)
    200
    2.IBC Registered Office Fee200
    3.IBC Registered Agent Fee200
    TOTAL:600
    • E. Fund Administration Fees:
    Sr. No.ParticularsFee (USD)
    1.Bookkeeping and NAV calculations, Registry, secretarial and trade and settlement coordinationBased on Size of Fund, number and nature of Transaction
    2.Preparation of Annual Financial StatementsBased on Size of Fund, number and nature of Transactions
    3.Other Administration WorkCharged on time – spent Basis
    • F. Other Services
    Sr. No.ParticularsFee (USD)
    1.Legal Advisory Services
    – Annual Retainer
    1,500
    2.Auditing Services*On application

    * The exact fees will depend on the type and the volume of the transactions

     

    We will be happy to supply any further information you may need and trust that you call on us to fill
    your order, which will receive our prompt and careful attention.

Contact
Tetragrammaton a.s.

Žitná 562/10
120 00 Praha 2 – Nové Město

+420 777 025 554
+420 777 775 524

More questions?


Agreement on Processing of Personal Data CZ / EN