Fund Domiciles

One of the first things a fund manager must understand are the structures available in a jurisdiction and the benefits and limitations of each. The domicile choice will have regulatory, tax-structuring and other consequences throughout the life of the fund. To help we’ve compiled a list of available fund structures and related considerations in our most popular destination countries.

Click on a country in the interactive map below to see the structures available and allow you to easily compare jurisdictions and structures by set-up time, regulations, taxes, asset class and more.

Select a country below to learn more

Luxembourg

The largest fund jurisdiction in Europe and second-largest in the world (after the US), Luxembourg has a longstanding reputation for political, economic, and social stability. Located in the heart of Europe, it is the headquarters of the EU’s legal and financial operations, with an internationally recognised tax and regulatory framework and easy access to other European financial centres.

Structure	Time Line	Cost
Part II UCI ( Undertakings for Collective Investments)^*	3 to 6 months	Contact one of our experts
SIF (Specialised Investment Fund^*	3 to 6 months	Contact one of our experts
SICAR (Société d´investissement en capital à risque)^*	3 to 6 months	Contact one of our experts
RAIF (Reserved Alternative Investment Fund)^*	1 month	Contact one of our experts
Limited Partnerships (SCS, SCSp, SCA)	1 month	Contact one of our experts

Cayman

Cayman is the world’s leading offshore mutual fund jurisdiction, specialising in banking, trustee services, company incorporation and limited partnerships. With no tax on income, profits or capital gains, easy set-up procedures, and a flexible regulatory environment, the country is a favourite offshore destination for wealth and hedge fund managers. As an overseas territory of Britain, Cayman’s court system is based on English common law and has enacted legislation to become fully compliant with the latest requirements of the OECD and the Financial Action Task Force (FATF).

Structure	Time Line	Cost
Mutual Funds (open ended) Registered Mutual Fund (inc. Master Fund) Administered Mutual Fund Licenced Mutual Fund Limited Investor Fund	1-3 months	Contact one of our experts
Private Funds (Close ended) Private Fund	1-3 months	Contact one of our experts
Non-Fund Arrangements Typical Legal Structures available Unit Trust Exempted Company Segregated Portfolio Company (umbrella) Limited Liability Company Exempted Limited Partnership	1-5 business days	Contact one of our experts

United States

The world’s largest economy, the US offers exceptional political and financial stability. Set-up costs are relatively low, with many uncomplicated regulatory structures available. The country also hosts a majority of the world’s alternative investment managers. New York offers all the advantages of a world-class finance capital, and Delaware is noted for its business- and tax-friendly environment.

Structure	Time Line	Cost
Limited Partnership	1-2 months	Contact one of our experts
Limited Liability Corporation (mainly used by General Partnerships)	1-2 months	Contact one of our experts
Non publicly traded Corporation (mainly used by Blockers)	1-2 months	Contact one of our experts

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Canada

One of the world’s top 10 trading nations, Canada has a large oil and gas sector and has become a magnet for technology companies. Toronto, an international centre of business and finance, hosts the world’s seventh-largest stock exchange. The country offers a stable government, a high standard of living, and a highly skilled workforce, as well as close proximity to the US.

Structure Time Line Cost

Ontario Limited Partnerships 1-2 months Contact one of our experts

Learn more

Structure	Time Line	Cost
Ontario Limited Partnerships	1-2 months	Contact one of our experts

Hong Kong

Hong Kong is one of the world’s leading financial centres. Its location provides a key link to both Western and Eastern markets, as well as mainland China. What makes it a growing popular fund domicile are: its close proximity to and relationship with China; the ability to hold funds in a range of currencies; and an attractive and simple tax system for foreign investors that has no capital gains, withholding or dividend taxes.

Structure	Time Line	Cost
Open-ended Fund Company (OFC)	<1 month	Contact one of our experts
Hong Kong Limited Partner Fund (HKLPF)	<1 month	Contact one of our experts

Singapore

Singapore is a leading financial services hub strategically located in the heart of South East Asia and has a robust asset management ecosystem in place. Singapore has signed over 90 double taxation agreements and has robust tax incentive schemes for funds and asset managers, all on the base of a flat corporate income tax rate of 17%. Singapore is a common law jurisdiction and offers a variety of fund structures for various purposes.

Structure	Time Line	Cost
Variable Capital Company (VCC)	<1 month	TBC
Limited Partnerships	1 - 2 days	TBC
Private Limited Company	1 - 2 days	TBC

Netherlands

Netherlands is an ideal fund domicile due to its stable regulatory environment, strategic location, and robust infrastructure. The Netherlands offers a favorable tax regime, extensive network of tax treaties, and high-quality service providers, making it a prime location for private equity and fund management. Vistra's local expertise and comprehensive services, including fund administration, compliance, and corporate services, ensure efficient and effective fund operations. This makes the Netherlands a preferred choice for fund managers seeking a reliable and efficient domicile.

Structure	Time Line¹	Cost
Besloten Vennootschap (BV) - Private Limited Liability Company	1 week	Contact one of our experts
Naamloze Vennootschap (NV) - Public Limited Liability Company	3-6 months	Contact one of our experts
Fonds voor Gemene Rekening (FGR) - Mutual Fund	< 1 month	Contact one of our experts
Coöperatie (Cooperative)	<1 month	Contact one of our experts
Commanditaire Vennootschap (CV) - Limited Partnership	< 1 month	Contact one of our experts
SICAV - Société d'Investissement à Capital Variable	3-6 months	Contact one of our experts
Real Estate Investment Trusts (REITs) - Fiscale Beleggingsinstelling (FBI)	3-6 months	Contact one of our experts

¹ Timeline reflects time to incorporate a legal entity including drafting by-laws and registering legal entities but excludes time needed to open a bank account or to raise funds with investors

Jersey

For over 50 years, Jersey has been at the forefront of global finance. Its market access, robust regulation, governance, tax neutrality and geography have helped position them as top international finance centre and a leader in the global funds industry. With advanced financial infrastructure and a wealth of expertise from industry professionals with deep knowledge, skills and experience, Jersey is perfectly positioned to support fund managers, no matter how complex their requirements.

Structure	Time Line	Cost
Jersey Private Fund^*	1 month	Contact one of our experts
Expert Fund	1-3 months	Contact one of our experts
Listed Fund	1-3 months	Contact one of our experts
Eligible Investor Fund	1-3 months	Contact one of our experts
Unregulated Eligible Investor Fund	1-3 months	Contact one of our experts

^*For a Jersey Private Fund with a Jersey manager which is ‘marketed’ into the EU/EEA (as defined in the AIFMD): (a) an AIF Certificate is required; and (b) if the AIFM is not subthreshold, the AIFM (or the fund, if self-managed) must obtain an AIF Services Business licence. These processing times run concurrently with the fund application.

Mauritius

Mauritius has established itself as a reputable International Financial Centre over more than 3 decades, underpinned by a robust regulatory framework and a legal system that harmoniously integrates English Common Law with French Civil Law. The island benefits from political stability, a highly skilled, qualified, and bilingual workforce, an extensive network of double tax treaties, and a diverse range of international banks, professional firms, further enhancing its attractiveness. Strategically located in the same time zone as the UAE, Mauritius facilitates efficient international transactions. Additionally, Mauritius offers a competitive tax environment and adheres to a comprehensive AML/CFT compliance framework, making it an attractive domicile for both local and international investors.

Structure	Time Line	Cost
Collective Investment Scheme & Closed end Fund Retail CIS Professional CIS Specialised CIS Expert Fund Special Purpose Fund	1-2 months	Contact one of our experts
Typical legal structures available for funds Company Limited Partnership Trust Protected Cell Company Variable Capital Company

Structure

Time Line

Cost

Collective Investment Scheme & Closed end Fund

Retail CIS
Professional CIS
Specialised CIS
Expert Fund
Special Purpose Fund

1-2 months

Contact one of our experts

Typical legal structures available for funds

Company
Limited Partnership
Trust
Protected Cell Company
Variable Capital Company

Ireland

Ireland is a well-established, advanced economy recognised for its strengths in high-tech, life sciences, financial services, and agribusiness. A top destination for high-value foreign direct investment (FDI), Ireland is also a premier domicile for international investment funds. Its transparent, well-regulated environment, favourable tax regime, and innovative business culture continue to attract fund promoters from around the world.

Structure	Time Line	Cost
Investment Company/Variable Capital Company	3-4 months	Contact one of our experts
Irish Collective Asset-Management Vehicle (ICAV)	3-4 months	Contact one of our experts