Private Funds

Overview

Castle Fund Administrators (CFA) is here to align your needs with the most suitable fund entities and regimes. CFA can assist you to establish your own fund which may prove more cost effective than other similar solutions. Gibraltar Private Funds

A Gibraltar Private Fund is an extremely useful, simple and efficient fund structure. This type of fund is not listed on any stock exchange and cannot have more than 50 investors. Although there must be some identifiable link between the investors in a Private Fund, there are no investment restrictions whatsoever. This fund is particularly suitable for investors who are close friends or family.

Following the transposition of the Alternative Investment Fund Managers Directive into local law in July 2013, a Private Fund (previously exempt from any licensing requirements) now has to register and report to the local financial regulator. Such a fund does not have to adhere to any investment or borrowing restrictions and benefits from a “light –touch” regulatory regime.

Private Fund uses:

  • Close friends and family co-investing
  • A provisional solution in advance of establishing a regulated structure
  • Asset specific investment opportunities requiring a swift turnaround
  • Start-up funds requiring “light-touch” regulatory oversight whilst building up a reputation

Private Fund characteristics:

  • no minimum investment;
  • no minimum number of investors;
  • no requirement for a lengthy offering document; and
  • the ability to take advantage of exemptions regarding the appointment of an auditor, custodian or investment manager.

The combination of a cost-effective platform and a suitable level of regulatory oversight can provide a flexible solution.

Our Services

CFA can provide whatever level of local professional back up you may require on a “stepped” basis.

1) Basic essential service

Provision of Gibraltar Company to act as a Private Fund Equity which may then seek approval of the GFSC (the Gibraltar Regulator) to act in the capacity of a compliant Fund.
Provision of necessary filing application to GFSC to include short form operational memorandum.
Provision of registered office, provision of Company Secretary, filing annual return of Shareholders and Directors.
Filing of abridged accounts with the Gibraltar tax office.

2) Enhanced service

Set-up

As for basic service plus:

Assistance in completing an Operational Manual.

On-going Management and Administration.
Assistance with periodic (monthly, quarterly, half yearly or annually) NAV’s, Management accounts, with budgets v actual on either monthly, quarterly, half yearly on annual basis.

3) Full Administration Service

All inclusive, with basic and enhanced service plus detailed input to produce full operational memorandums suitable for submission to GFSC.

On-going
Full administration “hands-on” service to include: - organisation and finalisation of NAV’s, monthly, quarterly, half yearly or annual basis; ledger, full and real time accounting and ledger entry system. Maintenance of all accounting records. Communication with all stakeholders. Raising of invoices and chasing settlement. Full management of bank account and day to day operations of the private fund.

CRS/FATCA Compliance and Reporting
MLRO appointment combining AML, Compliance and Reporting.
Essentially a complete one-stop shop comprehensive service.


Disclaimer: This website contains general information only, without any warranty that the content is accurate, complete or fit for a particular purpose. Neither Castle Fund Administrators Limited nor The Castle Trust Group accept any responsility for loss which may arise from reliance on information contained in this website and recommends that for a specific matter a suitable professional is consulted. Neither Castle Fund Administrators Limited nor The Castle Trust Group will be liable for any damages of any kind resulting from the use of this website.
Castle Fund Administrators Limited is licensed and regulated by the Gibraltar Financial Services Commission under licence number FSC0955CIS, to provide fund administration services to collective investment schemes.