Incubator Fund and Approved Fund Application Form (Form IB-A2-IAF)

Summary

This is the standard application form (Form IB-A2-IAF) used to apply to the BVI Financial Services Commission for recognition as either an Incubator Fund or an Approved Fund under the Securities and Investment Business (Incubator and Approved Funds) Regulations. It collects applicant details, fund classification evidence, director/general partner information, and (for approved funds) administrator details, and requires a signed declaration of accuracy.

• Applicant details: Name, date of incorporation/formation, entity type (BVI Business Company or BVI Limited Partnership), financial year dates, registration number, address, and intended date of commencing business.
• Authorised representative: Name of the applicant's designated Authorised Representative must be provided.
• Directors/General Partners: Details for each director or general partner, including whether they are a corporate entity and whether a CV/resume is attached.
• Fund classification proof: Incubator Fund applicants must confirm and cite the constitutional document clause stating the fund is an incubator fund; Approved Fund applicants must do the same for approved fund status.
• Fund administrator: Required only for Approved Fund applications: name, business address, activities, and regulator (if any) of the fund's administrator.
• Declaration: An authorised signatory must declare the information and supporting documents are true, accurate and authentic, with a stated risk of enforcement action for false or misleading information.
• Required attachments: Constitutional documents (certificate of incorporation/limited partnership, memorandum/deed, articles), CVs/resumes for each director or general partner, an offering document with investment warning or, absent that, a standalone investment warning and written investment strategy description, and payment of the US$1,500 application fee.

The form itself does not state statutory filing deadlines; it functions as the intake document the Commission uses to assess and record approval, denial, or deferral of the application.

Key obligations

• Applicant must provide accurate and complete details of the fund, its directors/general partners, and (for approved funds) its administrator on Form IB-A2-IAF
• Applicant must submit constitutional documents, director/general partner CVs or resumes, and either an offering document with investment warning or a standalone investment warning plus written investment strategy description
• Applicant must pay the US$1,500 application fee for the application to be considered complete
• An authorised signatory must sign a declaration certifying the truth and authenticity of the information and documents submitted
• Applicant must identify the specific clause in its constitutional documents establishing its incubator fund or approved fund classification

Applies to

Incubator Funds, Approved Funds, BVI Business Companies, BVI Limited Partnerships, Fund Administrators