Directors have ultimate responsibility for overseeing all aspects of a fund’s operation – including those functions delegated to the investment manager and other service providers. Directors must have extensive industry experience and appropriate professional qualifications.
In addition to providing individuals as directors, Harbour can also provide corporate directors to serve as trustees. This ensures the Harbour team can service the full complement of investment fund structures, including corporations, partnerships and unit trusts.
Harbour can provide related services throughout the lifecycle of a fund. These services can be provided in conjunction with our fund directorships or on a stand-alone basis and include:
AML Officer Services
Every Fund domiciled in the Cayman Islands is required to appoint an AML Compliance Officer, a Money Laundering Reporting Officer, and a Deputy Money Laundering Reporting Officer. Harbour provides suitable qualified individuals to fulfil all of these roles.
As a licensed trust company, Harbour can serve as the trustee for funds structured as Cayman Islands unit trusts. Harbour can also hold the voting shares of a fund in trust, and an affiliated company can provide trustee and enforcer services in Cayman Islands STAR Trust structures.
Registered and Principal Office Services
All Cayman Islands funds are required to maintain a registered office within the jurisdiction. Licensed funds are required to maintain a principal office. Harbour provides both registered office and principal office services.
Company Secretarial Services
A fund may elect to appoint a company secretary to assist with the scheduling of board meetings, the preparation of board materials, and the recording of official board minutes. We have industry leading software that can be used to prepare, distribute and store board materials for each client. We can tailor our secretarial services to the specific needs of each client.
Whilst we do not provide administration services to funds where we are directors, through a licensed affiliate, we can assist clients with bespoke fund administration requirements. Services include NAV calculation, accounting and shareholder services.
Liquidations and Distressed Situations
Harbour directors have extensive experience in working through distressed situations including the wind down of underperforming portfolios, illiquid assets and side pockets as well as in dealing with suspended redemptions, gates and redemptions in kind. Further, through an affiliate, we are also able to provide full insolvency and formal liquidation services.