Fund manager · British Virgin Islands

Fund manager licence (British Virgin Islands)

The BVI mutual fund recognition (private/professional fund), registration (public fund) or approval (incubator/approved fund) - funds are recognised/registered/approved, not 'licensed' is issued by British Virgin Islands Financial Services Commission (BVI FSC) under Mutual Funds Regulations, 2010. Ownership changes need the regulator's approval before completion.

Last verified 2026-09-24Regulator BVI FSCMarkdown · Data (CC BY 4.0)

At a glance

Official name	BVI mutual fund recognition (private/professional fund), registration (public fund) or approval (incubator/approved fund) - funds are recognised/registered/approved, not 'licensed'¹
Also known as	BVI mutual fund recognition · BVI professional fund · BVI private fund · BVI public fund registration · BVI approved fund · BVI recognised fund
Market names to check	BVI fund licence: Funds are recognised, registered or approved by the FSC, not licensed.
Issued by	British Virgin Islands Financial Services Commission
Jurisdiction	British Virgin Islands
Licence family	Fund manager
Legal basis	Mutual Funds Regulations, 2010¹
Passporting	Domestic only

What it lets you do

Managing alternative investment funds	Performing portfolio management and risk management for funds that are not UCITS, such as hedge, private equity and real estate funds.
Managing UCITS funds	Managing undertakings for collective investment in transferable securities, the EU's retail fund format.
Portfolio management	Managing client portfolios that include financial instruments on a discretionary, client-by-client basis.

Where it is valid

Valid in British Virgin Islands.

Buying a company that already holds it

Prior approval required. For SIBA investment business licensees, acquiring, disposing of, or issuing shares that create or change a 'significant interest' - defined as 10% or more of voting rights, distributions, or the power to appoint/remove directors - needs prior written FSC consent; licensees separately notify the FSC within 14 days of certain interest transfers. For BVI-recognised mutual funds (not licensees), there is no ownership threshold trigger; instead the fund gives 7 days' prior notice of a new functionary (manager, administrator, custodian) and reports director/auditor/authorised-representative or offering-document changes within 14 days, per the Mutual Funds Regulations 2010 and the Incubator and Approved Funds Regulations.²

Ready-made companies holding this licence: see verified positions.

FM in other countries

Country	Licence	Regulator	Min. capital	Application fee	Statutory time
Abu Dhabi Global Market (ADGM)	Fund manager licenceFinancial Services Permission for Managing a Collective Investment Fund (Category 3C)	FSRA	n/a	n/a	n/a
Bermuda	Fund Administrator LicenceFund Administrator Licence (Part III, Investment Funds Act 2006)	BMA	n/a	n/a	n/a
British Virgin Islands	Fund manager licenceBVI mutual fund recognition (private/professional fund), registration (public fund) or approval (incubator/approved fund) - funds are recognised/registered/approved, not 'licensed'	BVI FSC	n/a	n/a	n/a
Cayman Islands	Regulated Mutual FundRegulated Mutual Fund (registered, master, or administered fund under the Mutual Funds Act)	CIMA	n/a	n/a	n/a
Cayman Islands	Registered Private FundRegistered Private Fund under the Private Funds Act	CIMA	n/a	n/a	n/a
Cyprus	Alternative Investment Fund Manager (AIFM) authorisation	CySEC	n/a	n/a	~3 mo
Cyprus	Sub-threshold Alternative Investment Fund Manager registration	CySEC	n/a	n/a	n/a
Cyprus	UCITS Management Company authorisation	CySEC	n/a	n/a	n/a
Czech Republic	Sub-threshold Alternative Investment Fund Manager registrationSub-threshold Alternative Investment Fund Manager registration pursuant to Section 15 of AMCIF	CNB	n/a	CZK 10,000	~1 mo
Czech Republic	Investment Company / Fund Manager licence	CNB	n/a	CZK 50,000	~6 mo
Dubai International Financial Centre (DIFC)	Fund manager licenceFinancial Services Permission for Managing a Collective Investment Fund (Category 3C)	DFSA	n/a	USD 10,000	n/a
Estonia	Small fund manager registration without activity licence	FI	n/a	n/a	n/a
Estonia	Operating licence as a fund management company	FI	n/a	EUR 600	n/a
France	Portfolio management company authorisation	AMF	n/a	n/a	~3 mo
Germany	Investment management company licence	BaFin	n/a	n/a	n/a
Ireland	Alternative Investment Fund Manager (AIFM) Authorisation/Registration	CBI	n/a	n/a	n/a
Ireland	UCITS Management Company Authorisation	CBI	n/a	n/a	n/a
Luxembourg	Alternative investment fund manager (AIFM) authorisation	CSSF	n/a	EUR 18,000	~3 mo
Luxembourg	Management company authorisedManagement company authorised under Chapter 15 of the Law of 17 December 2010	CSSF	n/a	EUR 18,000	~6 mo
Netherlands	Alternative Investment Fund Manager (AIFM) licenceAlternative Investment Fund Manager (AIFM) licence under Wft Article 2:65 and Directive 2011/61/EU	AFM	n/a	EUR 200	~6 mo
Netherlands	Fund manager licenceUndertakings for Collective Investment in Transferable Securities (UCITS / ICBE) registration under Wft and Directive 2009/65/EC	AFM	n/a	n/a	n/a
Poland	Investment Fund Company licence	KNF	n/a	n/a	n/a
Poland	Alternative Investment Company Manager registration / licence	KNF	n/a	n/a	n/a
Seychelles	Fund Administrator's LicenceFund Administrator's Licence (and Restricted Fund Administrator's Licence) under the Mutual Fund and Hedge Fund Act 2008	FSA	n/a	n/a	n/a
Spain	Fund manager licence (SGIIC)	CNMV	n/a	EUR 10,000	n/a
Switzerland	Fund management company licence	FINMA	n/a	n/a	n/a
Switzerland	Manager of collective assets licence	FINMA	n/a	n/a	n/a
United Kingdom	Fund manager licenceAlternative Investment Fund Manager (AIFM) Authorisation / Registration	FCA	n/a	n/a	n/a

Values come from each licence's page, where every figure has its source.

Last verified 2026-09-24Author Danil Marmysh, Founder & CEO, ProtegraReviewed by Anastasia Sidorenkova, Head of Licensing, ProtegraReport an errorReference information, not legal advice.

Sources

bvifsc.vg: mutual funds regulations 2010 (PDF) · retrieved 2026-09-24
ogier.com: ongoing regulatory obligations for investment business licen · secondary · retrieved 2026-09-24

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