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