Fund Solutions
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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
Fund 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 & Beneficial Ownership Register 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)
Where Marbury is engaged as Registered Office and already providing Funds Solutions, we can also offer the following services:
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
BO Principal Point of Contact (BO PPOC) for the Beneficial Ownership Register (BOR)
AEOI – FATCA & CRS
Entity classification and self-certification
Obtaining a Global Intermediary Identification Number (GIIN)
Designated Principal Point of Contact (PPOC) appointment (or communications with the Cayman Islands Tax Information Authority (TIA))
Designated Primary User appointment (for communications with the BVI International Tax Authority (ITA) via the Financial Account Reporting System (FARS))
CRS Notification with the relevant tax authority
Annual CRS and FATCA reporting
Completion of the CRS Compliance form where applicable
Drafting or reviewing AEOI policies and procedures and assist with the implementation of a manual where relevant
Reviewing self-certification forms, sponsored entity agreements and delegation agreements
CRS and FATCA onboarding new accounts including Self-Certifications
Periodic reviews of the CRS FATCA documentation we hold
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
See our Overview of CRS & FATCA for more details
