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Fund Services

Our fund services include:

Fund implementation

  • Coordination with lawyers, custodians, auditors and other service providers
  • Review of fund documentation
  • Implementation of the fund and chart of accounts
  • Registering with the US Internal Revenue Service (IRS) and obtaining a Global Intermediary Identification Number (GIIN)
  • Opening bank accounts
  • Registration with the applicable regulator and CRS/FATCA
  • Modeling of waterfall distribution schemes

Fund domiciliation

 

  • Domiciliation service for fund, general partners, management companies and SPVs

Operational support for funds

  • Company secretarial support, administrative management and regulatory compliance
  • Directorships
  • Employment contracts
  • Employment visa applications
  • Accounting and consolidation
  • Tax assistance / Filing of Employers HK Tax Returns BIR56A and IR56B
  • Statutory auditor services
  • Employee compensation and medical insurance
  • Payroll services
  • Annual leave calculations and tracking

Investor services

  • Onboarding of new investors
  • KYC collection, storage and maintenance
  • Closings / drawdowns
  • Communicating with investors
  • Preparing and sending investor circulars & notices
  • Provision of contract notes and statements to investors
  • Liaising with investors over distributions
  • FATCA and CRS support

Fund administration

  • Accounting services
  • Calculation of expenses and fees
  • Preparing and lodging filings
  • Preparing financial statements (monthly / quarterly / annually – as required)
  • Communicating with manager
  • Communicating with third party service providers
  • Record keeping
  • Bank account reconciliation (frequency as required)
  • Investor registry services (including administration of receipt of funds)
  • Transfer agency
  • Handling subscriptions, redemptions and transfers
  • Handling distributions
  • General secretarial and legal compliance
  • Coordination of investments/divestments
  • Payments processing
  • Provision of registered offices
  • Assistance with board meetings

Accounting

  • Fund and adviser bookkeeping
  • NAV calculation
  • Preparation of financial statements
  • Interim financial reporting
  • Coordination and follow-up of the audit process
  • Partnership accounting

Shareholder services

 

  • Handling shareholder communications

Registrar and Transfer Agent

  • Maintenance of unit/share register
  • Investment transactions processing (commitment, subscription, capital call, redemptions, distributions, transfer, etc)
  • Processing of all investor transactions (capital calls, distribution, redemptions, etc)
  • Eligibility, KYC and AML checks
  • Investor communication
  • Provision of individual investment account
  • Offering of participant administration for suppliers of security investment products

Cayman AML Compliance

At Marbury we understand our clients need to focus on portfolio management, performance and investors. Pursuant to the Anti-Money Laundering Regulations (Revised) (AML Regulations), all Cayman domiciled entities carrying out relevant financial business are required to fulfil the AML Regulations. Relevant types of investment structures that must comply with AML Regulations include:

  • Regulated investment funds registered with the Cayman Islands Monetary Authority (CIMA)
  • Closed-ended and open-ended but currently unregulated investment funds, including private equity funds, funds or investment vehicles undertaking private debt, real estate/property and infrastructure funds
  • Other entities carrying out relevant financial business potentially including entities such as trading subsidiaries, SPVs and general partners (where appropriate)

For certain clients Marbury can provide:

  • Money Laundering Reporting Officer (MLRO)
  • Deputy MLRO (DMLRO)
  • AML Registers
  • Compliance manual and framework
  • Training on AML procedures
  • Management of the suspicious activity reporting process

AEOI - FATCA & CRS

The Automatic Exchange of Information (AEOI), which comprises due diligence and reporting regimes such as the Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) introduces an information standard for the automatic exchange of financial information to combat tax evasion.  While this is a significant step toward a globally coordinated approach, it does introduce added complexity and an increased compliance burden. Marbury can provide advice and offer flexible and cost effective solutions to ensure clients meet the necessary requirements. Our services include:

  • Advising on the potential application of FATCA and CRS, including entity classification and self-certification, relevant tax authority registration and notification requirements, availability of reporting exemptions, and compliance requirements
  • Reviewing language for incorporation into offering materials, constitutional and other documents, where relevant
  • Reviewing self-certification forms, sponsored entity agreements and delegation agreements
  • Drafting or reviewing AEOI policies and procedures and assist with the implementation of a manual where relevant
  • Registering a client with the US Internal Revenue Service (IRS) and obtaining a Global Intermediary Identification Number (GIIN)
  • Classification, validation and remediation of pre-existing accounts
  • Designated Principal Point of Contact (PPOC) appointment (in the Cayman Islands for communications with the Tax Information Authority (TIA))
  • Designated Primary User appointment (in the BVI for communications with the International Tax Authority (ITA) via the Financial Account Reporting System (FARS))
  • Onboarding new accounts to ensure required data is captured, and obtaining forms and due diligence documentation for validation in advance to facilitate compliance
  • Preparation and filing of reports that are compliant with applicable legal requirements
  • For sponsoring entities - taking responsibility for FATCA compliance on behalf of the sponsoring entity client, including performing all initial and ongoing due diligence to identify any reportable accounts, GIIN registration and reporting where applicable
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