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Saint Lucia International Private Mutual Funds


The International Mutual Funds Act Cap 12.16 (the Act) of the 2008 revised laws of St. Lucia provide for the regulation, authorization and control of international mutual funds and their administrators and managers, the carrying on of international mutual fund business in or from Saint Lucia and for related matters. The Financial Services Regulatory Authority of Saint Lucia (FSRA) licenses Public Mutual Funds and registers Private Mutual Funds in Saint Lucia.

About International Private Mutual Funds

International Private Mutual Funds is an investment club of not more than one hundred persons, each of whom makes an investment of not less than US$ 50,000.00 into the fund, are not required to have a licensed Administrator, although they must be registered with the Director of Financial Services.

A private mutual fund does not require a license to carry on mutual fund business from St. Lucia, however it needs to be registered with the Financial Services Regulatory Authority (FSRA).

Legal Requirements

An International Private Mutual Fund does not require to have any service providers including directors of corporate entities in St. Lucia, other than that of the registered agent or registered trustee. Therefore its service providers such as investment advisers, administrators, investment managers and custodians may be located in any jurisdiction.


Entity Requirements

Eligible company is a body corporate which is incorporated or continued under the International Business Companies Act, Cap. 12.14; for the purpose of carrying on international public mutual fund business and whose objects or business activities are restricted to international public mutual fund business.

Director’s Requirements

A private fund is required to appoint at least one director, who must be natural persons.


• A fund administrator of an international public mutual fund must be a person who is granted and holds a valid international public mutual fund administrator licence issued by the minister.
• The fund administrator must be a person who is an international business company incorporated.


• An auditor must be a member of the Institute of Chartered Accountants of the Eastern Caribbean or another professional accounting institute or association and who is approved as an auditor by the Minister;
• The auditor must be independent of the international mutual fund or the administrator or the manager which he or she is auditing; and
• The auditor must have at least 5 years of experience in performing audits of financial institutions or mutual funds.

Fund Manager

• A fund manager carrying out business as an international public mutual fund manager must be a person who is granted and holds a valid international public mutual fund manager licence and complies with the provisions of this Act, t he Regulations and the terms and conditions of the international public mutual fund manager licence

Offering Memorandum

An international public mutual fund must have a current offering document filed by the director and which must provide full, true and plain disclosure of:
a) the issue price of any equity interests being offered
b) particulars of the business and finances of the international public mutual fund offering such equity interests; and
c) all facts present or foreseeable that significantly affect or would reasonably be expected to have a significant effect on the disclosure required in (a) above.

Ongoing requirements

  • The prescribed annual fee shall be paid on or before the 15th day of January in each year following first registration in respect of each international private mutual fund.