The BVI possesses many advantages to fund sponsors and investors including: a sophisticated legal system based on English law and appealable to the Privy Counsel in the UK; a tax neutral environment; a stable political and economic jurisdiction committed to remaining fully compliant with international financial regulatory norms and regulations; no regulatory restrictions on investment policies or strategies; no requirement to appoint local directors, functionaries or auditors; a fast track procedure for professional fund approval; a range of professional service providers; and comparably low start-up and ongoing fees and costs.