By Michael Killourhy, Simon Schilder, Nicholas Plowman, Simon Dinning
BVI entity must be company limited by shares. BVI entity can be either incorporated as a segregated portfolio company or if already incorporated, registered as such by the Registrar. The prior written approval of the FSC is required in order to be incorporated or registered as a segregated portfolio company.
To obtain approval from the FSC, the applicant needs to demonstrate “knowledge and
experience necessary for the proper management of segregated portfolios”. Approval will only be granted if the applicant will be an insurer under the Insurance Act 2008 or
a professional, private or public fund under the Securities and Investment Business Act 2010.