During 2022 we expect to see increased use of the BVI approved manager product. The approved manager has been particularly popular over the last couple of years with small and medium sized managers, and crypto managers in particular. They are suitable for open and closed-ended funds, and managed accounts. Approved managers are cost-effective to establish and operate, and can be set up and approved in as little as two weeks. The FSC has a streamlined approval process, designed to operate in parallel with a new fund application. Approved managers are subject to light-touch regulation by the BVI FSC, and are out of scope for the BVI economic substance regime.
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