Fund Managers
Fees
| Category | Application Fee Per Fund | Initial Registration Fee Per Fund | Annual Renewal Fee Per Fund |
| Investment Fund Manager not registered under the SIA, IFA or in a prescribed jurisdiction | $200.00 | $300.00 | $500.00 |
| Investment Fund Manager registered under SIA or in a prescribed jurisdiction | $200.00 | No Fee | No Fee |
| Alternative Investment Fund Manager | $200.00 | $300.00 | $500.00 |
Administrative Fees under the Investment Funds Act
| Description | Filing Fee |
| Approval of the appointment or change in a director, operator, chief executive officer or other person for whom initial approval is required | $400.00 |
| Approval of the Issuing, Transferring or Disposing of Shares of the Investment Fund Administrator | $400.00 |
| Approval or change of a Compliance Officer or Money Laundering Reporting Officer (MLRO) | $700.00 |
| Letters of Good Standing | $300.00 |
| Replacement Certificates (per certificate) | $300.00 |
| Approval of change of name and re-issuance of registration certificate (per certificate) | $300.00 |
| Extension to file audited financial statements (1st request) | $700.00 |
| Extension to file audited financial statements (2nd request) | $1500.00 |
| Approval for the Surrender of license or registration Certificate | $300.00 |
| Application for “Exemption” or “Waiver” request | $300.00 |
| Approval of Publication of Advertisement in The Bahamas | $150.00 |
| Late payment of annual renewal fee | 1/12 of the amount of annual fee payable for each month the payment remains outstanding |
| Late filing of Audited Financial Statements | Up to $1,000.00 for each month (or portion thereof) the payment remains outstanding. |
| Copies of extracts from Investment Fund Register | $10.00 |
| Request for confirmation of status by AIFM | $100.00 |
Schedule of pro-rated annual fees
Please note that conversion charges will apply for fees remitted via wire transfer (USD).
Applications
Pursuant to section 26 of the Investment Funds (Amendment) (No.2) Act, 2020, a person acting as an investment manager shall apply to be registered under the Act. To apply for registration as an investment manager, an applicant must submit a completed Third Schedule Form B (Investment Fund Manager’s Registration), together with the information and documents specified.
Ongoing Reporting Obligations and Forms
| INVESTMENT FUND MANAGER | ||
| OBLIGATION | TIMELINE | LEGISLATIVE REFERENCE |
| RENEWAL OF LICENCE | ||
| Fees | Payment Annually – by January 31 | Section 43 |
| Annual Declaration | File Annually | Section 43 (1)(a) Form C, Schedule 9 |
| FINANCIAL REPORTING | ||
| Capital Requirement | Ongoing | Section 63(2)(b) |
| MATERIAL CHANGE REPORTING | ||
| Ongoing statutory reporting | Within 5 days of change | Section 111 |
| Winding up or closure | Within 30 days after commencement | Section 49 |
| Reporting information or information to investors | Within 21 days of occurrence | Section 112 |
| Delegation of functions | Before delegation takes place | Section 65 |
| WINDING UP, DISSOLUTION OR TERMINATION | Within 30 days before such commencement | Section 49 |
| ALTERNATIVE INVESTMENT FUND MANAGER | ||
| OBLIGATION | TIMELINE | LEGISLATIVE REFERENCE |
| RENEWAL OF LICENCE | ||
| Fees | Payment Annually – by January 31 | Section 43 |
| Annual Declaration | File Annually | Section 43 (1)(a) |
| FINANCIAL REPORTING | ||
| Capital Requirement | Ongoing | Section 63(2)(b) |
| MATERIAL CHANGE REPORTING | ||
| Ongoing statutory reporting | Within 5 days of change | Section 111 |
| Winding up or closure | Within 30 days after commencement | Section 49 |
| Reporting information or information to investors | Within 21 days of occurrence | Section 112 |
| Delegation of functions | Before delegation takes place | Section 65 |
| WINDING UP, DISSOLUTION OR TERMINATION | Within 30 days before such commencement | Section 49 |
Other information
Alerts and Notices
