St Lucia Mutual Funds

The St. Lucia International Mutual Funds Act allows for the establishment of two types of mutual funds: Public and Private. Public Mutual Funds are required to be licensed and may be IBC's or Unit Trusts. The fund must have a registered office or a Registered Agent licensed under the Registered Agent and Trustee Licensing Act and an Administrator in St. Lucia. Public Mutual Funds must file an offering document, unless exempted by the Minister.

Conversely, Private Mutual Funds, described for the purposes of the Act as 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.

The Main Features of The International Mutual Funds Act are as follows:

FINCOS can act as the Resident Agent for any Mutual Fund set up under St. Lucia law in addition to attending to the full licensing process. FINCOS is also pleased to make recommendations as to an Administrator of the Mutual Fund once established.

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