21 May 2019

Hatstone South Africa advises on major virtual healthcare services deal

Hatstone Lawyers Incorporated recently advised an industry leading IT company in the successful conclusion of an agreement for the supply of virtual healthcare services in collaboration with one of the largest pharmaceutical retailers in South Africa.

The service which is set to roll out nationally towards mid 2019 will allow patients to interface with a healthcare professional remotely via live video and specialised digital medical equipment from the premises of the pharmaceutical retailer’s clinic.

It allows for patient treatment without the need for in-person consultation with a healthcare professional and is aimed at medical conditions requiring simple treatment methods.

Menko Hoeksema, Director of Hatstone Lawyers Incorporated, highlighted that the new service will be “a pioneering integration of medical services and technology”.

We are proud to have played a role in setting up a platform which will make simple healthcare more accessible and more affordable.

If you have any questions, please contact Menko Hoeksema.

01 May 2019

British Virgin Islands – The domicile of choice for crypto asset funds

According to last year’s reports published by CoinShare, the British Virgin Islands (BVI) is the 2nd largest cryptocurrency market in the World (after the USA) and is responsible for 2 of the largest 3 Initial Coin Offerings. Perhaps this follows given that the BVI is also a very well-known and regarded domicile for investment funds.

Hatstone have developed a Crypto Asset Fund product to assist start up managers to launch a small to medium sized lightly regulated and cost-efficient investment fund in the BVI. The Crypto Asset Fund will be set up and regulated as an Approved Fund pursuant to the Investment Business (Incubator and Approved Fund) Regulations 2015.

Key features of the Crypto Asset Fund will be:

  • Limited to 20 investors;
  • Assets do not exceed US$100m.
  • Hatstone acts as the Administrator providing the Crypto Asset Fund with registrar and transfer agent and NAV calculation services; and
  • No requirement to appoint either an Auditor or a third-party Investment Manager. The Crypto Asset Fund will be managed by its Directors. Alternatively, the Directors may set up a BVI Approved Manager which would serve as a third party manager. The Approved Manager is also a lightly regulated, cost-efficient and an ideal counterpart to the Approved Fund.

Banking, brokerage and custody are major considerations for any fund. Hatstone has developed relationships with third parties that understands and specialise in Crypto Assets (cryptocurrencies, tokens and other kinds of blockchain assets) as well as access to a platform with 11 Crypto exchanges and over 73 coins which will help to ensure a smooth and easy establishment process and ongoing operations. The client simply needs to nominate two persons with relevant expertise in the area of Investment Business and Crypto Assets to act as the Directors of the Crypto Asset Fund.

If you have any questions, please contact Daniel Cann and Philipp Neumann.