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 |
CV details | 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. |