Investment Funds

Fees

For the promulgated fees in effect, please refer to the Investment Funds (Amendment) Regulations, 2017

Application and Annual Renewal Fees for Investment Funds licensed or registered under the Investment Funds Act

Category Application Fee Annual Renewal Fee
Standard Fund $1,300.00 $1,750.00
Professional Fund – with Administrator $1,300.00 $1,750.00
Professional Fund – with Administrator (Fast Tracked Application) $2,500.00 $1,750.00
Professional Fund – Self Administered $1,300.00 $2,000.00
Professional Fund – Self Administered (Fast Tracked Application) $2,500.00 $2,000.00
SMART Investment Fund – with Administrator $1,300.00 $1,750.00
SMART Investment Fund – with Administrator (Fast Tracked Application) $2,500.00 $1,750.00
SMART Investment Fund – Self Administered $1,300.00 $2,000.00
SMART Investment Fund – Self Administered (Fast Tracked Application) $2,500.00 $2,000.00

Principal Office Fees for Investment Funds licensed under the Investment Funds Act

Category Principal Office Fee
Standard Fund $875.00
Professional Fund – with Administrator $875.00
Professional Fund – Self Administered $875.00
SMART Investment Fund – with Administrator $875.00
SMART Investment Fund – Self Administered $875.00

Administrative Fees under the Investment Funds Act

Category Administrative Fee
Re-Launching of a Suspended Fund $1,000.00
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 a “Waiver” request $300.00

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