Jurisdictions and forms of Professional Investor Funds
PIFs are offered out of several jurisdictions. Some of the better-known jurisdictions for establishing this type of wealth planning structure are Ireland, Luxembourg, Malta and the United Kingdom, but they are, for example, also offered out of the Channel Islands. In some of these jurisdictions several types of PIFs are available (depending on the overall wealth of the investors and on how intensely they are regulated), yet in some only a single type is available.
In most jurisdictions the investors can decide for themselves which type of (corporate) vehicle they will use to establish the PIF. The PIF can therefore take the form of e.g.:
- an investment company,
- a unit trust or
- a limited partnership.
The preferred form and jurisdiction of the fund depend primarily on the fiscal regulations in the home country of the investors, the (investment) goals of the investors and other criteria.