Fund Setup and Fund Manager Licensing in GMC: Legal Advisory

Launching a fund in the Gelephu Mindfulness City means two things at once: a vehicle registered with the corporate registry and a manager licensed by the financial regulator, with a set of fund tax exemptions whose approval windows close at the end of 2029. Basnet Law gives legal advice on fund vehicles in the Gelephu Mindfulness City Special Administrative Region (GMC) and on the licensing of their managers by the Gelephu Financial Services Office (GFSO).

Select the vehicle: a GMC company under the Companies Act 2025, a limited partnership under the Limited Partnerships Act 2026, or an investment trust.

Licence the manager for Managing a Collective Investment Fund and, where mandates are separate, for Managing Assets.

Advise on appointing and, if needed, licensing the administrator and the trustee of an investment trust.

Draft the constitution, limited partnership agreement, offering document and service agreements under the Fund Rulebook.

Advise on structuring master-feeder and SPV arrangements with the three fund tax exemptions in view, and track their commencement.

Advise on GFSO Approved Person filings and the In-Principle Approval conditions.

Managers launching a first GMC fund, whether venture, private equity, hedge or digital asset. Existing offshore managers adding a GMC-managed structure. Family principals converting a private portfolio into a regulated fund. Administrators and trustees seeking GMC permissions.