Helvetic Fund Administration Limited

Helvetic Fund Administration has operated in Gibraltar since 1998. It is regulated by the Financial Services Commission (FSC) in Gibraltar and was the first fund administration company to be licensed by the FSC. Helvetic has extensive experience in supporting sophisticated hedge fund structures and investment vehicles. Helvetic focuses on maintaining a close working relationship with its clients in order to provide them with services superior in quality, efficiency and responsiveness.

Gibraltar is a peninsula situated at the southern tip of continental Europe. It has a multi-cultural background with approximately 30,000 residents. English is the official language. Gibraltar is a Dependant Territory of the United Kingdom with a constitutional guarantee against the transfer of its sovereignty.

Gibraltar has approval of its Know Your Customer Rules (KYC) by the Internal Revenue Service (IRS). The Territory has also received approval for Qualified Intermediary (QI) status. It is a territory of the EU (unlike Jersey, Guernsey and the Isle of Man), and has implemented EU laws covering every aspect of financial regulation, including the directive on combating money laundering. Gibraltar has exemptions from Community policy in the Common Agriculture and Fisheries Policies, the Common Customs tariff, the free movement of goods (but not services) and the levying of VAT. The UK Government has delegated to the Government of Gibraltar responsibility for giving effect to EU legislation in the Territory, but retains ultimate responsibility for the application of EU law in Gibraltar. Gibraltar has permission to passport financial services business into the EU. Passporting rights into the EU and EEA single market in investment services were granted to Gibraltar investment services providers in June 2003.

Gibraltar enjoys a low tax regime, with no capital gains tax, no wealth tax, no inheritance tax, no gift tax, no estate duty, no value added tax (VAT) and no exchange controls. Opportunities exist for individuals and companies to be either tax exempt or to substantially reduce their exposure to taxation on income and profits.

In Gibraltar the Financial Services Commission (FSC) is responsible for the supervision and regulation of all companies and individuals who offer financial services to the public in or from Gibraltar. The FSC is required by statute to match United Kingdom standards in supervisory practices. Gibraltar is rated as a benchmark jurisdiction with respect to its financial regulation. The IMF noted that Gibraltar "is at the forefront of good practices".

For more information, visit the FSC's website at www.fsc.gi.

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