Investment Funds
Fees
For the promulgated fees in effect, please refer to the Investment Funds (Fees) Rules, 2020
Application and Annual Renewal Fees for Investment Funds licensed or registered under the Investment Funds Act
| Category | Application Fee | Annual Renewal Fee |
| Standard Fund | $1,625.00 | $2,200.00 |
| Professional Fund – with Administrator | $1,625.00 | $2,200.00 |
| Professional Fund – with Administrator (Fast Tracked Application) | $3,125.00 | $2,200.00 |
| Professional Fund – Self Administered | $1,625.00 | $2,500.00 |
| Professional Fund – Self Administered (Fast Tracked Application) | $3,125.00 | $2,500.00 |
| SMART Investment Fund – with Administrator | $1,625.00 | $2,200.00 |
| SMART Investment Fund – with Administrator (Fast Tracked Application) | $3,125.00 | $2,200.00 |
| SMART Investment Fund – Self Administered | $1,625.00 | $2,500.00 |
| SMART Investment Fund – Self Administered (Fast Tracked Application) | $3,125.00 | $2,500.00 |
Principal Office Fees for Investment Funds licensed under the Investment Funds Act
| Category | Principal Office Fee |
| Standard Fund | $1,000.00 |
| Professional Fund – with Administrator | $1,000.00 |
| Professional Fund – Self Administered | $1,000.00 |
| SMART Investment Fund – with Administrator | $1,000.00 |
| SMART Investment Fund – Self Administered | $1,000.00 |
Administrative Fees under the Investment Funds Act
| Category | Administrative Fee |
| Re-Launching of a Suspended Fund | $1,250.00 |
| Letters of Good Standing | $375.00 |
| Replacement Certificates (per certificate) | $375.00 |
| Approval of change of name and re-issuance of registration certificate (per certificate) | $375.00 |
| Extension to file audited financial statements (1st request) | $875.00 |
| Extension to file audited financial statements (2nd request) | $1875.00 |
| Approval for the Surrender of license or registration Certificate | $375.00 |
| Application for a “Waiver” request | $375.00 |
Schedule of pro-rated annual fees
Please note that conversion charges will apply for fees remitted via wire transfer (USD).
Applications
- To apply to be a licensed Investment Fund, an applicant must submit a completed Schedule 3 Form A (Investment Fund Licence), together with the information and documents specified.
- For an application to re-launch a suspended fund the particulars prescribed in the Eight Schedule of the IFR, 2020 should be provided in compliance with regulation 16 and section 22 of the Investment Funds Act, 2019.
Ongoing Reporting Obligations and Forms
| INVESTMENT FUNDS | ||
| OBLIGATION | TIMELINE | LEGISLATIVE REFERENCE |
| RENEWAL OF LICENCE | ||
| Fees | Payment Annually – by January 31 | Section 43 |
| Annual Declaration | File Annually | Section 43 Form A, Schedule 9 |
| FINANCIAL REPORTING | ||
| Audited Financial Statements | Within 180 days of fiscal year end | Section 109(6) |
| MATERIAL CHANGE REPORTING | ||
| Amendments to its Offering and Constitutive Documents | Immediately | Section 10(5) |
| Change to an investment fund | Within 21 days of the occurrence | Section 10(4) |
| Change in Fund Operators | Immediately | Sections 10(5) |
| Change in Registered Office or Principal Office | Immediately | Section 10(5) |
| Surrender Of License Of Registration | 21 days prior to the effective date of the surrender | Section 21(2) |
| Transfer To and From Another Jurisdiction: i. An investment fund transfer from the Bahamas ii. An investment fund transfers into the Bahamas |
Within 14 days of the date of the transfer
21 days prior to the date of transfer |
Section 19 Form A, Schedule 6 Section 20 Form B, Schedule 6 |
| New Appointment Of Investment Fund Administrator | Section 55(4) | |
| Termination Of Administration Agreement (by Investment Fund) |
14 days prior to the effective date of dismissal | Section 55(4) |
| Voluntary Suspension | Within 14 days of becoming dormant | Section 22 |
| Winding Up, Dissolution Or Termination | Within 30 days after such commencement | Section 49 and 111(2) |
| Filing Statistical Information (for Self Administered Investment Funds) | Every 6 months – June 30 & December 31 | Section 111(1) |
Alerts and Notices
