Asset manager licence: SFC Type 9 in Hong Kong or a CMS licence in Singapore
SFC Type 9 or a Singapore CMS licence for an asset manager: capital, retail access, staffing and residence, timelines, fees, virtual assets and how to choose.
Fund vehicles
Lending licences: EU, UK, Hong Kong, Singapore and Kazakhstan
Lending licences in the EU (CCD2, AIFMD II), UK (FCA, BNPL), Hong Kong, Singapore and Kazakhstan: capital, timelines, rate caps and entry routes.
Financial Licences: How to Choose, Obtain and Maintain One
Which product needs a PI, EMI, CASP, investment firm or bank licence; the EU, UK, Asia, UAE and US; capital from €20,000 to €5 million, FCA processing times, entry without own licence and EU sanctions for Russian UBOs.
Redomiciliation Routes: Moving a Company or a Fund to Another Register
Nineteen continuation regimes compared: which registers admit a company and let it leave, exit tax, substance, licences, fees, funds and the alternatives.
Cross-Border Fund Distribution: Marketing, Promotion and Investor Communications
The four axes of cross-border fund distribution: product exemption, intermediary status, investor category and communication type — US Reg D/Reg S, UK financial promotion, EU pre-marketing, Singapore CISNet.
Fund, SPV, Syndicate, Club Deal and Managed Account: Legal Distinctions
How to tell an investment fund from an SPV, syndicate, club deal, joint venture, managed account and holding company: pooling, discretion and control axes, AIFMD/ESMA tests, FSMA s.235, Howey and the Investment Company Act, Cayman and Singapore.
Fund Tax Architecture: Who Pays, Where and On What
The tax chain of an investment fund: asset and source country, transparent/opaque classification, feeders and blockers, three LP classes on one portfolio (UBTI, ECI, FIRPTA, §1446, PFIC), manager and carry.
Fund Valuation: NAV, Dealing Prices and Liquidity
How fund NAV is produced, who answers when it is wrong, and why value is not cash: fair-value hierarchy, AIFMD and SEC Rule 2a-5, dealing cut-offs, NAV-error thresholds, gates and side pockets.
Investment Fund Domicile: Jurisdiction, Structure and Launch
How to choose the jurisdiction and legal form of an investment fund: domiciles in the US, Cayman Islands, BVI, Jersey, Luxembourg, Ireland, Singapore, Hong Kong and the Gulf.
ERA: Exempt Reporting Adviser in the United States
What is an Exempt Reporting Adviser, how ERA differs from RIA, how venture-capital and private-fund adviser exemptions work, and what events trigger registration.
Where the Fund Manager Sits: Choosing the Manager's Jurisdiction
Choosing the fund manager's jurisdiction: license thresholds, timelines, substance, tax on management fee and carry, investor access. SG, HK, UAE, UK, US, EU.
Fund LPA: Clawback, LPAC and GP Removal
How an LPA protects LPs: clawback and escrow, recycling limits, LPAC powers, for-cause and no-fault removal, key person events and ILPA standards.
Fund Finance: Subscription Lines and NAV Facilities
Fund-level debt explained: subscription lines on uncalled commitments, NAV facilities on the portfolio, hybrids and GP lines. IRR impact and LP checklist.
Fund Secondaries: LP-Led, GP-Led and Continuation Vehicles
LP-led and GP-led fund secondaries: continuation fund mechanics, status quo option, fairness opinions, conflicts of interest, and 2025-2026 market data.
Hong Kong FIHV vs Singapore 13O: The Two SFO Regimes Compared
Hong Kong FIHV against Singapore 13O and 13U: HK$240m vs S$20m thresholds, substance costs, Bill 2026 status and the CIES vs GIP migration bonus compared.
Section 13O for a Singapore Single Family Office: 2026 Conditions
Section 13O for Singapore single family offices in 2026: S$20m in designated investments, two investment professionals, S$200K–1m spending, CDR, MAS award.
Designated Investments and Specified Income: The Scope of Singapore's Fund Tax Exemptions
What counts as designated investments under Singapore's 13D/13O/13U fund tax exemptions: Fifth Schedule scope, exclusions, crypto, SG property. July 2026.
Luxembourg: funds, holding companies and fintech licences
Luxembourg for private capital: RAIF and SIF funds under a third-party ManCo, SOPARFI participation exemption, PPLI insurance wrappers, tax and substance.
SCSp: The Luxembourg Partnership for Funds
How the Luxembourg SCSp works: tax transparency, GP/LP mechanics and the LPA, use with RAIF and AIFM, comparison with the SCS and the Delaware LP, launch timeline.
Private Funds: A Legal Guide to Structure, Documents and Terms
The legal architecture of a private fund: fund vehicle, investment manager, LPA documents, waterfall distributions, carry and fee terms. The four structural elements of UHNW capital management.
Investment Funds: Structure, Management and Launch
How investment funds work: LP and VCC vehicles, Cayman, Delaware, Luxembourg and Singapore, manager licensing, NAV and carried interest, providers and launch.
Singapore — Business, Investments, Residence, Banking
Singapore as a hub for private capital: company formation, tax residence, funds, and banking under territorial taxation. Where to start and how to structure.
Setting Up a Private Fund in Singapore: VCFM, Section 13D/13O/13U and VCC Combined
Setting up a private fund in Singapore: combining VCC, VCFM manager and Section 13D/13O/13U tax regimes—why registration alone is not enough.
Ireland Section 110 SPVs and ICAVs: Taxation and US Investors
How an Irish Section 110 SPV zeroes its tax base through profit-participating notes, why the ICAV can check-the-box and kill PFIC, and where ATAD and anti-hybrid bite.
Carried interest 2026: the jurisdiction map for fund principals
Carried interest in 2026: the UK moves it into trading profits (34.075%/47%) and reaches non-residents, Luxembourg offers 11.45% or exemption, Italy 26%, France 31.4% PFU, the US keeps § 1061.
Investor Onboarding in a Fund: From Qualification and KYC to LPA and Capital Call
Complete guide to entering a fund: accredited investor and qualified purchaser qualification, KYC and source of wealth, tax forms W-8BEN/W-9, subscription agreement, LPA, and capital call mechanics.
Feeder fund: access to a fund through an intermediate structure
Master-feeder and feeder platforms: how the intermediate structure works, two tiers of fees, tax transparency, and risks.
AngelList: How a Family Office Runs "Club" Deals
How family offices use AngelList to run syndicates: deal-by-deal SPVs, fund administration, banking, and platform fees. Infrastructure for direct venture investing.
Moonfare: private equity for those without $10M for a single fund
How Moonfare opens access to private equity funds through feeder structures: minimum checks, secondary windows, fees, and intermediary risks explained.
Carta: Cap Table Management, Fund Administration, and a Data Privacy Lesson
How Carta became the industry standard for cap table management and fund administration, and why it exited secondary trading after a 2024 data scandal.