The processing fee is RS. 25,000 which included the first fund and Rs. 5,000 for each additional fund. The annual fee is Rs. 75,000 which includes the first fund and Rs. 10,000 for each additional fund. The legal documents required for the various structures of the CIS include:
If CIS is an Individual
If the CIS is structure as a Company
If the CIS is structured as a Trust
If CIS is structured as a Limited Partnership
If CIS is structured as a Foundation
If CIS forms part of a Master feeder
If CIS is a Multi-class Share Structure
Copy of constitution dated signed accompanied by a legal certificate and certified copy of Certificate of Incorporation
Certified copy of the Trust Deed. Name of the Trust, its date and place of registration
Certified copy of the Limited Partnership Agreement
Certified copy of the Charter
Full Customer Due Diligence on the Master/Feeder fund.
An indication of the number of sub-funds/share classes to be set up initially
Valid passport copy
Certified copied of statutory documents lodged with the registrar of companies with respect to the incorporation of the CIS
Details of the trustees to include submission of full Customer Due Diligence (CDD) on settlor/contributor trustee and beneficiaries or confirmation from the management company.
Details of the General partner to include full Customer Due Diligence
Details of Council Members
Offer document of the feeder fund disclosing to investors that their investment will be routed through a Master fund
Details on the first sub-funds/share-class to be created
Proof of address e.g. a recent utility bill
List of controlling shareholders and directors
Details of the settlor including submission of full Customer Due Diligence
Latest audited financial statements of the Limited Partnership and it’s General Partner
Details of the founder accompanied by Customer Due Diligence
An indication of the percentage corpus of the feeder fund that will be invested in the Master Fund
Confirmation that no sub-fund/share-class will be created unless prior approval of the Commission is secured.
Recent Bank reference
Latest audited financial statements or Corporate Profile
Corporate profile if latest audited accounts are not available.