Samoa Public Fund
Samoa Public fund is an international mutual fund which is not a private fund or a professional fund
|Entity Requirements||The entity making the application is:|
|Director’s Requirements||The licensee will need at least 2 (two) natural person Fit and Proper Directors of any jurisdiction.|
The company must have a resident director who must be a natural person
|Compliance Officer||The Licensee must establish and maintain an appropriate and effective compliance function within the firm which operates independently of all operational and business line functions and senior or supervisory management.|
|Licensed Principle||The Applicant must employ at least one individual who is licensed as a principal.|
The Principle must:
|Fund Administrator||Samoan licensed fund administrator by the Samoa International Finance Authority (SIFA)|
Approved Foreign Administrator by the Authority and from a recognized country or jurisdiction as per the International Mutual Fund Act, 2008.
|Fund Manager||The company is required to appoint and maintain at all times a registered fund manager which must be a licensed trustee company to protect investors and creditors and ensure compliance with the Act.|
|Custodian||The applicant must have a licensed/approved custodian at all times.|
|Local Office||The applicant must have premises acceptable to the authority. The premises should be able to facilitate confidential interaction between the applicant and its clients, and provide for safe and confidential storage of documents.|
|Auditor||The Licensee, within one month after becoming licensed, shall appoint an external auditor who is acceptable to the SIFA|
|Insurance||The applicant must have indemnity insurance coverage or a fidelity bond acceptable to the regulator|
|Minimum Capital Requirements|
- Licenses are to be renewed annually after the date of registration.
- Filing of Audited Accounts
- The Licensee must maintain appropriate policies of insurance for the purpose of indemnifying such licensee against any liability that may be incurred as a result of any act or omission by the licensee or any of its officers or employees in the conduct of the licensee’s business.
About Valsen Fiduciaries
Valsen Fiduciaries is a licensed independent global service provider of a broad range of fiduciary, administrative, legal, corporate secretarial and support services.
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The Valsen Advantage
- We will advise you on the optimal legal structure for your requirements, size, expectations and circumstances. We have extensive knowledge of a wide range of securities dealer licenses in all major jurisdictions.
- Valsen will assist to complete every form for each process in the best way we know how (Based on our many years’ experience with various regulators and service providers across the world)
- We are very hands on in the post filing period checking with re regulator and service providers and updating you regularly. Any queries raised by the regulators and service providers during processing will be quickly synthesized by us and we shall craft the right responses to move the process forward fast.
- We have a full in-house compliance support for all compliance requirements with the regulator and service providers
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