Choose Colonial Trust Company Ltd. For Your St Lucia International Mutual Funds
International Mutual Funds are investment vehicles used by both private and public entities to invest in companies located outside of the entity’s country of residence. Under St Lucia International Mutual Funds Act, two types of mutual funds can be established. There is the Public Mutual Fund, which must have either a Licensed Registered Agent, or Registered Office, and a Licensed Administrator operating in Saint Lucia. There is also the Private Mutual Fund, which the Act defines as investment groups with no more than 100 members, each of whom must make an investment of at least $50,000.00. Unlike Public Mutual Funds, Private Mutual Funds are not required to have a licensed Saint Lucia Administrator. The professionals here at Colonial Trust Company can perform a broad assortment of services for your private St Lucia international mutual funds including serving as your mutual fund’s Licensed Administrator or Registered Agent.
Understanding the Laws Surrounding St Lucia International Mutual Funds
Colonial Trust Company primarily provides professional services for private international mutual funds. We can assist with the formation and maintenance of companies who are considered to be carrying out business in Saint Lucia. A company is considered to be carrying out business in Saint Lucia if the company’s administration or management is conducted within Saint Lucia, or if the business is incorporated under the laws of Saint Lucia. Colonial Trust Company professionals can provide services for the entire private international mutual fund registration process, which typically can be completed within two weeks.
The great thing about private St Lucia international mutual funds is that they are not regulated like public international mutual funds, and also have an easier registration process. Furthermore, creating an international private mutual fund under Saint Lucia also comes with no taxation of any sort on the mutual fund and its’ administrators. The creation of a private St Lucia international mutual funds requires the appointment of a:
· Investment Manager
· Private International Mutual Fund Custodian
· Private International Mutual Fund Administrator
· Private International Mutual Fund Manager
The same party, such as Colonial Trust Company, can serve as the private mutual fund’s Investment Manager, Fund Manager and Fund Administrator.
The Saint Lucia International Mutual Funds Act imposes specific duties on the Administrator of private international mutual funds. First, the Administrator must fulfill licence requirements by proving they possess either a general or restricted licence to administer investment funds. Second, the Administrator must be deemed to be an International Business Company (IBC) with no less than two directors who are natural persons of Saint Lucia, one of whom must be a current Saint Lucia resident. Third, Administrators must annually file audited mutual fund records with Saint Lucia’s Minister of Finance.
The professionals here at Colonial Trust Company fulfill all Administrator requirements, and have substantial experience at serving as the Administrators and Registered Agents of private international mutual funds. Contact Colonial Trust Company today to discuss all of the services, solutions and advice that we can provide for your private St Lucia international mutual funds.