The Nevis International Mutual Funds Ordinance 2004 and its accompanying Regulations provide a modern regulatory structure for mutual funds, their managers and administrators. The applicable regulations are Nevis International Mutual Funds Ordinance 2004 and Nevis International Mutual Funds Regulations under the Nevis Financial Service Commissions
The entity making the application is St Kitts and Nevis:
a) Company
b) Limited partnerships,
c) Unit trust or
d) Any other similar body formed under the laws of Nevis or any other jurisdiction which collects
and pools investor funds for the purpose of collective investment.
• The applicant will need at least one shareholder.
• Corporate shareholding is allowed and 100% foreign ownership is permitted.
The Licensee must establish and maintain an appropriate and effective compliance function within the firm which operates independently of all operational and business line functions and senior or supervisory management.
The Applicant must employ a fund manager:
a. A Fund Manager locally licensed and approved by the FSC
b. A Fund Manager licensed and approved under the laws of a recognized country or jurisdiction.
c. A person with a written permission from the FSC to carry on Business as a Fund Manager.
The Applicant must employ a fund administrator who can be:
a. A fund administrator locally licensed and approved by the FSC
b. A fund administrator licensed and approved under the laws of a recognized country or jurisdiction.
c. A person with a written permission from the FSC to carry on Business as a fund administrator.
a. A custodian locally licensed and approved by the FSC
b. A Custodian licensed and approved under the laws of a recognized country or jurisdiction.
c. A person with a written permission from the FSC to carry on Business as a Custodian.
Not Required
The License shall appoint an external auditor who is acceptable to the Commission
The applicant must have indemnity insurance coverage acceptable to the regulator
None
USD 600
USD 600