The Bermuda Monetary Authority has issued a notice introducing a streamlined Approval in Principle (AIP) process intended to speed up the establishment of new investment funds in Bermuda by providing a conditional pre-approval pathway. Complete applications for new funds are generally reviewed within eight business days, while applicants using the AIP pathway and submitting the required documentation may receive conditional pre-approval within two to three business days. The AIP is designed to allow sponsors to finalise operational matters and satisfy outstanding requirements in a more structured sequence. The AIP does not constitute registration or authorisation under the Investment Funds Act 2006. A fund must not commence investment fund business, accept subscriptions, or represent itself as registered or authorised until formal registration or authorisation has been granted and all applicable statutory and regulatory requirements have been met.
Bermuda Monetary Authority 2026-03-19
Bermuda Monetary Authority launches Approval in Principle process offering conditional fund pre-approval within two to three business days
The Bermuda Monetary Authority has introduced a streamlined Approval in Principle (AIP) process to expedite new investment funds by providing a conditional pre-approval pathway. Complete applications are reviewed within eight business days, while AIP applicants may receive pre-approval in two to three days. The AIP does not equate to registration or authorisation under the Investment Funds Act 2006, and funds must meet all statutory and regulatory requirements before commencing business.