Closed fund in the Bahamas. This is certainly cool, but how can you be controlled? Where are the guarantees for investors? You can't get it there on these islands.
Hey dzkrb, I've been really enjoying Black Sails too, though the Bahamas aren't the safehaven for piracy and crime they were in the 18th century. These days, the islands are largely known as a top holiday destination for people from the US and a desirable domicile for fund structures due to the favourable tax treatment. I've struggled to find any funds in EU, Aus, US that are outperforming our partner fund.
Also note that ANX may voluntarily apply to be licensed and regulated by the SCB following fund launch.
Singapore and the Caymans both have similar exemptions for closed-end's, but Bahamas was marginally more cost effective and our legal consultants and partner fund are based there so it made the most sense. We'll be able to access reliable banking services there through introductions from legal, which is something nearly every crypto start up has struggled with in the rest of the world.
Cheers,
Oscar.