Experienced Investor funds (EIF)
These types of funds are ideal to be used for investment purposes by smaller Corporations and high net-worth individuals (HNWI) or other experienced investors. Because EIF's can only receive investments from 'experienced investors' these funds can be set-up and approved by the Financial Services Commission relatively quickly. EIF's are often used as joint venture investment vehicles by groups of HNWI's or companies utilising EU pension and tax advantages.
In 2005 Gibraltar introduced Experienced Investor Funds (EIF) under the Financial Services (Experienced Investor Funds) Regulations, 2005.
The fund can be managed by its directors or by investment managers. Investment managers that manage funds in Gibraltar are required to be Gibraltar resident and approved by the FSC in Gibraltar. As such EIF funds usually appoint two local FSC approved managers in addition to other individuals or companies that will manage the fund on a daily basis.
Gibraltar funds can be structured as open or closed funds. EIF's are commonly used as private equity or property funds. Whether open-ended or closed, a fund may be structured as private or public company, Protected Cell Company or as a unit trust.
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