FUNDS

Private, Crypto &
Experienced Investor Funds

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Fund Services

Our fund administration services have seen impressive growth in recent years and we are excited about the prospects for this part of our business.

Our enthusiasm is passed on to our clients through the delivery of timely, cost-effective fund administration that combines cutting edge technology with highly qualified fund experts who appreciate that alternative funds each have their unique characteristics. They enjoy applying years of know-how and hands on experience to find that bespoke solution that will work for your fund.

Benefits

Funds in Gibraltar have favorable tax systems

Abacus world leader in area - gain expert guidance

Low-cost fund administration fee

Gibraltar - a crypto-friendly location

Speed to market is key when launching af fund

Gibraltar achieved OECD White List status

and much more …

Contact Us For Guidance

Benefits

Abacus world leader in area - gain expert guidance

Low-cost fund administration fee

Gibraltar - a crypto-friendly location

Speed to market is key when launching a fund

Gibraltar achieved OECD White List status

Funds in Gibraltar have favorable tax systems

and much more …

Contact Us For guidance

Get in touch with our experts

For those of you who would like to get personal advice, please fill in below.

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Type of funds that can be established

The two main types of fund that are established in Gibraltar are Private Funds (PF) and Experienced Investor Funds (EIF).

Experienced Investor Funds (EIFs)

EIFs are authorised and regulated by the Gibraltar Financial Services Commission (GFSC) and are created as collective investment schemes that are solely for experienced investors.

Main features of EIFs:

Unlimited number of investors.
Unlimited amount of assets under management (although may be subject to AIFMD de minimis thresholds if complying with Directive).
May be self-managed.
Experienced investor defined as one able to invest minimum subscription of €100,000 or equivalent.
Two Gibraltar authorised EIF directors required (although a waiver for one may be possible if the fund’s director meets a stringent fit and competent test).
Requires an annual audit.
No diversification or asset class requirements.
Can be established using a private limited company, limited partnership, protected cell company or unit trust.
No depository required. The fund’s bank account may be held with a bank in or outside of Gibraltar.
EIFs can be used for crypto funds.
Speed to market: fund can be set up in about 6 weeks and can commence its trading activities as from launch date as it is deemed authorised by the fund’s Gibraltar legal adviser at the launch meeting.

The chart below gives an example of an EIF's stakeholders

Our main fund services include:

Registration and Company Secretarial Services

Incorporation of a Gibraltar private company limited by shares or a Protected Cell Company.
The registration of the company as a collective investment scheme with the GFSC and
Companies House as well as the relevant payment for the initial registration with the GFSC
and annual GFSC fee.
Review of the Private Placement Memorandum (“PPM”) to ensure consistency with the Articles of the company and filing of the same with the GFSC.
Provision of Registered Office and Company Secretary.
Maintenance of statutory records and compliance with annual statutory requirements.

Tax compliance services

Registration of the fund/company with the Gibraltar Tax Office.
Preparation and submission of annual tax return.
Maintenance of statutory records and compliance with annual statutory requirements.
Preparation and submission of dividend returns, as and when required.
Applying the relevant tax exemptions from the Gibraltar Tax Office.
Arranging for final payments of tax and payments on account, when applicable.
Assistance with FATCA/CRS registration and reporting as required.

Fund Administration Services

Accounting services.
Calculation of the fund’s Net Asset Valuation on a weekly, monthly, quarterly or annual basis.
Individual investor reports.
Calculation and disbursement of management, advisory and/or performance fees.
Review and payment of invoices in relation to other expenses.

Registrar and Transfer Agent Services

Processing subscriptions and redemptions.
Preparation and filing of returns, issue of share certificates as well as ancillary documents that may apply in relation to subscription (s) and redemption (s).
Communications with shareholders as required.
Provision of client statements and contract notes as required.

Private Funds

As a collective investment scheme, the Private Fund can be made available privately to an identifiable group of up to 50 participants.

The main advantages of a Private Fund in Gibraltar are its speed to market, lower associated cost, and the requirement for just a simple registration with the Gibraltar regulator.

Main features of Private Funds:

A maximum of 50 offers may be made to close connections such as “family and friends”.
Cannot be marketed to the public.
Unlimited amount of assets under management (although may be subject to AIFMD de minimis thresholds if complying with Directive).
May be self-managed.
No requirement to appoint local directors.
No audit requirements.
No depository required. The fund’s bank account may be held with a bank in or outside of Gibraltar.
No diversification requirements or asset class restrictions.
Can be established using a private limited company, limited partnership, or unit trust. It may also be set up as a protected cell company by exception if prior approval is obtained.
May be used to set up a crypto fund if trading own money or participants form part of a small identifiable group.

Crypto Funds

The EIF is the main type of fund used to support investments in cryptocurrencies, tokenised securities and other digital assets which have been the main driver of growth for Gibraltar’s fund industry in recent years.

We are at the forefront of this exciting and rapidly evolving digital transformation and have built a solid understanding of crypto assets, mainly from first-hand experience gained whilst providing services to crypto funds. We have developed a real sense of the challenges faced by the promotors and operators of crypto funds and have learned how to overcome them and find compliant solutions that may stem from our know-how of traditional financial services or, very often, from innovative blockchain-inspired outcomes.

Gibraltar is an excellent jurisdiction to set up a fund

Gibraltar has strengthened its position as a leading player in the fund industry.

A solid infrastructure, robust regulatory regime and favourable tax system has allowed Gibraltar to uniquely position itself as a high-quality, well-regulated fund servicing jurisdiction. Gibraltar’s appetite for digital innovation combined with the industry’s forward-thinking mindset, makes it an attractive jurisdiction for those looking for the best domicile for their fund.

GFIA is an association that represents the interests of the funds and investments sector in Gibraltar. It is very active in the development of the Gibraltar funds industry, advises the Government of Gibraltar on fund matters and engages with industry practitioners to provide training and guidance related to funds as well as publishing codes of conduct for Gibraltar Collective Investment Schemes.

Abacus is a corporate member of GFIA and adheres to the high standards of Gibraltar’s sophisticated fund industry. More information on GFIA can be found on their website https://gfia.gi/.

Taxation of a fund in Gibraltar

Gibraltar’s low corporate and personal tax regimes make it a very attractive location when compared to other European jurisdictions. Gibraltar offers a corporate tax rate of 10% and all income received by a Gibraltar fund accruing and deriving outside of Gibraltar is not liable to taxation. In addition to this, there is no VAT or capital gains tax and no dividend or withholding tax for non-Gibraltar residents.

Typically, a well-structured fund that does not have income accruing in or deriving from Gibraltar will not be subject to Gibraltar taxation.

Re-domiciling a foreign fund to Gibraltar

Gibraltar is an attractive location in which to set up a fund. For those funds that are already established outside of Gibraltar and are considering the merits of changing their fund’s domicile, it is worth noting that it is possible to re-domicile a fund to Gibraltar.

Contact us for further information on how to go about this.

Your next steps...

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Complete our Funds fact find

Latest topics

2020… What a year it was! Now that it finally is behind us, the question of what to expect of 2021 grows ever more pressing.

An agreement has been reached by the authorities in the UK, Gibraltar and Spain to increase tax transparency and eliminate discrepancies due to being deemed resident in both jurisdictions.

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“Enjoy our low cost fund administration fees, while getting advice from a world-leader”

Joanne Rodriguez
DipFA Associate Director