The Bermuda Monetary Authority has introduced a streamlined Approval in Principle (AIP) process to support faster establishment of new investment funds in Bermuda by providing an expedited, conditional pre-approval pathway. Complete applications for new funds are generally reviewed within eight business days, but applicants using the AIP pathway and submitting the required documentation may receive conditional pre-approval within two to three business days, allowing sponsors to finalise operational matters and meet outstanding requirements. The Authority emphasised that AIP is not registration or authorisation under the Investment Funds Act 2006, and a fund must not start investment fund business, accept subscriptions, or represent itself as registered or authorised until formal registration or authorisation is granted and all statutory and regulatory requirements are satisfied.
Bermuda Monetary Authority 2026-03-19
Bermuda Monetary Authority introduces expedited Approval in Principle process for new investment funds with conditional pre-approval in two to three business days
The Bermuda Monetary Authority has introduced a streamlined Approval in Principle process to provide an expedited, conditional pre-approval pathway for establishing new investment funds in Bermuda. Complete applications may receive conditional pre-approval within two to three business days, compared with eight business days for standard review, but this does not constitute registration or authorisation under the Investment Funds Act 2006, and funds may not commence business until formal authorisation is granted and all requirements are met.