Accounting & Taxes

For a typical master-feeder structure in the BVI, the Master LP entity should have a US tax form W-8IMY correct?

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Luke Xie

Dec 28, 2023

Need either W-8BEN or W-8IMY to be on AngelList

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1 answer

Mike Suprovici

Accepted Answer

Dec 28, 2023

It's really difficult to build an enduring VC firm on AngelList. Consider getting off AL. If you're going to setup a fund in BVI, all entities need to be in BVI. It's super expensive and inefficient for you to have entities in multiple domiciles, especially for a small fund 1. By having entities in multiple domiciles, your operations costs will go to exponential because you need 2 sets of lawyers, 2 sets of fund admin, 2 sets of tax, 2 sets of treasury. Then, they have to talk to each other etc... The operational complexity is just not worth it.

Thanks Mike! To be clear, this is just to be able to access certain investments via AngelList. For better or worse, we've already completed setup as a master-feeder with BVI master, BVI feeder/blocker, and US feeder. Given this, would our Master LP fill out the W-8IMY?

Luke Xie

Dec 28, 2023 8:06pm

Have you setup a fund on AngelList or have you setup a fund outside of AL and are planning to make investment via the AL platform?

For a typical master-feeder structure in the BVI, the Master LP entity should have a US tax form W-8IMY correct?

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