The Professional Fund is the BVI's workhorse category for hedge funds. It must be recognised by the BVI Financial Services Commission, appoint an administrator, an auditor and an authorised representative, and it may begin trading for up to 21 days before recognition is granted. A professional investor is one whose ordinary business involves acquiring or disposing of investments, or who has declared net worth above US$1 million.
Compared with a Cayman fund, a BVI Professional Fund is generally faster and cheaper to establish and run, which is why it is a common choice for first funds and sub-scale launches.
