Mutual Funds in Saint Vincent and the Grenadines are regulated under the Mutual Funds Act, Chapter 154 of the country. A St Vincent Mutual Fund License is of two types: a license for Public Mutual Funds which allows for the operation of funds open to the public for investment and a license for Private Mutual Funds. For businesses that are offering services to the general public, it is recommended that they obtain the public fund license.
An application for a St Vincent Mutual Fund License has to be made to the SVG Financial Services Authority. The first step for the application process is the registration of an International Business Company in the country. This is followed by the actual application process. An International Public Mutual Fund which seeks to be licensed in St Vincent will need to obtain the services of a Licensed Administrator who is located in St Vincent. It will also need to appoint a Licensed Manager for the fund. The license may be issued within 4-6 weeks if all documents and the application are correctly submitted.
The fee for an application for a St Vincent Mutual Fund License is $500 plus a Due diligence fee of $50. An annual fee of $600 also has to be paid every year to renew the license.
In addition to the application process, there is a need for continued compliance including maintenance of accounting records and submission of information to the Authority. If you are interested in learning more about a St Vincent Mutual Fund License and how it can help your business, please complete the form on this page and one of our dedicated team of experienced professionals will assist you through the entire process of obtaining a St Vincent Mutual Fund License.