# Fund manager licence (British Virgin Islands)

Source page: https://protegra.io/licensing/licences/fund-manager/bvi/

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.

## 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](https://protegra.io/licensing/regulators/bvi-fsc/) |
| Jurisdiction | [British Virgin Islands](https://protegra.io/licensing/jurisdictions/bvi/) |
| Licence family | [Fund manager](https://protegra.io/licensing/licences/fund-manager/) |
| Legal basis | Mutual Funds Regulations, 2010 [1] |
| Passporting | Domestic only |

## What it lets you do

| [Managing alternative investment funds](https://protegra.io/licensing/activities/aif-management/) | Performing portfolio management and risk management for funds that are not UCITS, such as hedge, private equity and real estate funds. |
| --- | --- |
| [Managing UCITS funds](https://protegra.io/licensing/activities/ucits-management/) | Managing undertakings for collective investment in transferable securities, the EU's retail fund format. |
| [Portfolio management](https://protegra.io/licensing/activities/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](https://protegra.io/companies/funds-asset-management/).

## FM in other countries

| Country | Licence | Regulator | Min. capital | Application fee | Statutory time |
| --- | --- | --- | --- | --- | --- |
| [Abu Dhabi Global Market (ADGM)](https://protegra.io/licensing/licences/fund-manager/adgm/) | Fund manager licenceFinancial Services Permission for Managing a Collective Investment Fund (Category 3C) | FSRA |: |: |: |
| [Bermuda](https://protegra.io/licensing/licences/fund-manager/bermuda/) | Fund Administrator LicenceFund Administrator Licence (Part III, Investment Funds Act 2006) | BMA |: |: |: |
| 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 |: |: |: |
| [Cayman Islands](https://protegra.io/licensing/licences/fund-manager/cayman-islands-mutual/) | Regulated Mutual FundRegulated Mutual Fund (registered, master, or administered fund under the Mutual Funds Act) | CIMA |: |: |: |
| [Cayman Islands](https://protegra.io/licensing/licences/fund-manager/cayman-islands-private/) | Registered Private FundRegistered Private Fund under the Private Funds Act | CIMA |: |: |: |
| [Cyprus](https://protegra.io/licensing/licences/fund-manager/cyprus-aifm/) | Alternative Investment Fund Manager (AIFM) authorisation | CySEC |: |: | ~3 mo |
| [Cyprus](https://protegra.io/licensing/licences/fund-manager/cyprus-sub-aifm/) | Sub-threshold Alternative Investment Fund Manager registration | CySEC |: |: |: |
| [Cyprus](https://protegra.io/licensing/licences/fund-manager/cyprus-ucits/) | UCITS Management Company authorisation | CySEC |: |: |: |
| [Czech Republic](https://protegra.io/licensing/licences/fund-manager/czech-republic-registered-15/) | Sub-threshold Alternative Investment Fund Manager registrationSub-threshold Alternative Investment Fund Manager registration pursuant to Section 15 of AMCIF | CNB |: | CZK 10,000 | ~1 mo |
| [Czech Republic](https://protegra.io/licensing/licences/fund-manager/czech-republic/) | Investment Company / Fund Manager licence | CNB |: | CZK 50,000 | ~6 mo |
| [Dubai International Financial Centre (DIFC)](https://protegra.io/licensing/licences/fund-manager/difc/) | Fund manager licenceFinancial Services Permission for Managing a Collective Investment Fund (Category 3C) | DFSA |: | USD 10,000 |: |
| [Estonia](https://protegra.io/licensing/licences/fund-manager/estonia-small/) | Small fund manager registration without activity licence | FI |: |: |: |
| [Estonia](https://protegra.io/licensing/licences/fund-manager/estonia/) | Operating licence as a fund management company | FI |: | EUR 600 |: |
| [France](https://protegra.io/licensing/licences/fund-manager/france-sgp/) | Portfolio management company authorisation | AMF |: |: | ~3 mo |
| [Germany](https://protegra.io/licensing/licences/fund-manager/germany/) | Investment management company licence | BaFin |: |: |: |
| [Ireland](https://protegra.io/licensing/licences/fund-manager/ireland-aifm/) | Alternative Investment Fund Manager (AIFM) Authorisation/Registration | CBI |: |: |: |
| [Ireland](https://protegra.io/licensing/licences/fund-manager/ireland-ucits/) | UCITS Management Company Authorisation | CBI |: |: |: |
| [Luxembourg](https://protegra.io/licensing/licences/fund-manager/luxembourg-aifm/) | Alternative investment fund manager (AIFM) authorisation | CSSF |: | EUR 18,000 | ~3 mo |
| [Luxembourg](https://protegra.io/licensing/licences/fund-manager/luxembourg-ucits/) | Management company authorisedManagement company authorised under Chapter 15 of the Law of 17 December 2010 | CSSF |: | EUR 18,000 | ~6 mo |
| [Netherlands](https://protegra.io/licensing/licences/fund-manager/netherlands-aifm/) | Alternative Investment Fund Manager (AIFM) licenceAlternative Investment Fund Manager (AIFM) licence under Wft Article 2:65 and Directive 2011/61/EU | AFM |: | EUR 200 | ~6 mo |
| [Netherlands](https://protegra.io/licensing/licences/fund-manager/netherlands-ucits/) | Fund manager licenceUndertakings for Collective Investment in Transferable Securities (UCITS / ICBE) registration under Wft and Directive 2009/65/EC | AFM |: |: |: |
| [Poland](https://protegra.io/licensing/licences/fund-manager/poland-tfi/) | Investment Fund Company licence | KNF |: |: |: |
| [Poland](https://protegra.io/licensing/licences/fund-manager/poland-zasi/) | Alternative Investment Company Manager registration / licence | KNF |: |: |: |
| [Seychelles](https://protegra.io/licensing/licences/fund-manager/seychelles/) | Fund Administrator's LicenceFund Administrator's Licence (and Restricted Fund Administrator's Licence) under the Mutual Fund and Hedge Fund Act 2008 | FSA |: |: |: |
| [Spain](https://protegra.io/licensing/licences/fund-manager/spain-sgiic/) | Fund manager licence (SGIIC) | CNMV |: | EUR 10,000 |: |
| [Switzerland](https://protegra.io/licensing/licences/fund-manager/switzerland-fund-management/) | Fund management company licence | FINMA |: |: |: |
| [Switzerland](https://protegra.io/licensing/licences/fund-manager/switzerland-manager/) | Manager of collective assets licence | FINMA |: |: |: |
| [United Kingdom](https://protegra.io/licensing/licences/fund-manager/united-kingdom-aifm/) | Fund manager licenceAlternative Investment Fund Manager (AIFM) Authorisation / Registration | FCA |: |: |: |

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

## Sources

1. [bvifsc.vg: mutual funds regulations 2010 (PDF)](https://www.bvifsc.vg/sites/default/files/mutual_funds_regulations_2010.pdf): retrieved 2026-09-24
2. [ogier.com: ongoing regulatory obligations for investment business licen](https://www.ogier.com/news-and-insights/insights/ongoing-regulatory-obligations-for-investment-business-licensees/): retrieved 2026-09-24

Last verified 2026-09-24 · Author: Danil Marmysh · Reviewed by Anastasia Sidorenkova · © Protegra. Data: CC BY 4.0, cite "Protegra Licensing Atlas". Not legal advice.