The Spanish Economy Ministry announced on Wednesday that the domestic sale of hedge funds will be authorized this year, more than eighteen months after Parliament approved a law allowing such funds to be sold in Spain.
According to reports in the international media, the authorization is conditional on the funds publishing trading prices every six months, requiring an initial investment of EUR50,000, and having managers based in an OECD member state.
The move has been welcomed by the investment community, which feared that the caution shown by the Spanish authorities over allowing the sale of domestic hedge funds put the country at a competitive disadvantage compared with other EU member states such as Germany and the UK, and the United States.
A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp
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