We have been speaking a lot about options to set up your funds in the UAE and Luxembourg.
In various episodes, we spoke about types of funds, structures, their features and the associated costs.
Launching a fund traditionally cost a lot of money, and if you didn’t have committed capital, or in other words, investors, then it meant paying from your own pocket.
And hoping for the best.
Well, not anymore.
Jurisdictions such as the D I F C, have started to come upon with incentives for fund managers.
For instance, the newly launched VC Fund Regime, that has incidentally been covered in our recent podcast. Here, costs have been reduced to US$ 4,000 in regulatory fees, with options for dedicated desks coming in at US$ 6,000 a year.
Sounds like a no-brainer, doesn’t it?
Except that one component of the costs drives up costs exponentially.
And that is – service provider fees.
In other words, amounts that you pay the lawyers, administrators, consultants, and the like.
This was always an impediment, especially for startup fund managers who struggled to launch their products, just because they couldn’t afford the startup costs.
All this got us thinking, and in 2019, we came up with a solution. One, that proved to be so successful that we ended up making over 50 funds on the trot, and counting.
It may not seem like a big number, but remember, these are over 50 fund managers who would not be able to launch their funds if it wasn’t for us.
In today’s episode, we take you through what we can do for you, as service providers. Costs may differ based on the structures involved, but the underlying theme is – affordability, and turnkey solutions.
That’s it. It is that simple.
Let’s go to the solutions bit right away, since costs are subjective. However, we can assure you that our prices are unbeatable, of course, for the experience that we bring in. Our 50+ fund clients in the last year stand testimony to this fact!!
In terms of jurisdictions, we advise on DIFC funds, ADGM Funds and Luxembourg funds. That is quite a spread of literally any kind of fund that you can think of, including UCITS, Hedge funds, Islamic funds, PE and VC funds and the like.
Interestingly, 10 Leaves has managed to get the first two approvals for VC Fund managers under the new D I F C VC Fund regime, with many more in the pipeline.
By the way, we offer the fastest way to launch your Venture Capital Fund in the D I F C, and have everything sorted for you, in one seamless solution!!
1. In terms of solutions, we start with structuring your fund.
2. We tailor your fund to your needs, which include investment objectives, liquidity mechanics, waterfall, carried interest, and legal structure.
3. We then assist in Regulatory Authorisations.
4. We liaise with the regulators involved, in order to complete the approvals for the fund manager, if required, and the Fund.
(i.)D I F C and ADGM funds require fund managers and mandatory compliance officers. In some cases, finance officers as well.
5. We act as your outsourced compliance and finance officers, and also manage the compliance of the fund.
6. Our legal arm – 10 Leaves Legability, assists in the preparation of all fund documentation. This includes Private Placement Memorandums or PPMs, Investment ManagementAgreements, Subscription Agreements and Fund Constitutions.
7. Maintenance of the fund involves Fund Accounting and Administration.
8. We offer assistance in accounting, VAT advisory, filing of regulatory returns and risk management through our exclusive partners.
9. Every fund structure requires a bank account, without which it cannot operate.
10. We offer assistance in opening bank accounts with leading banks in the UAE and Luxembourg.
By the way, do you want to distribute your fund throughout the UAE, Europe and also in Saudi?
1. We assist in completing the required registrations of Fund Passporting for fund distribution in the wider UAE and the European Union, and also consult on cross-bordermarketing.
2. In some cases, we offer consultations on registrations and publishing on leading fund databases, for promotions to their extensive curated audiences.
3. We also have a solution for you that involves tokenising your fund units and offering it to a wide audience via regulated platforms in the EU.
10 Leaves is a specialized consultancy and Fund Launching Platform, and we simplify the deployment and maintenance of complex legal entities like investment Funds.
Launching a Fund in these jurisdictions was traditionally an extremely cumbersome process complete with endless paperwork and coordinating with multiple service
providers. It was also a very costly affair, with prices north of US$ 40,000 just for fund documentation.
We have digitised and largely automated the process to make it accessible and save you time and money.
Contact us to discuss your fund requirements today!