Bermuda Institutional Fund License
Key Features
- he/she is an individual who has such knowledge of, and experience in, financial and business matters as would enable him/her to properly evaluate the merits and risks of a prospective purchase of shares in the investment fund; or
- he/she is an individual whose net worth or joint net worth with his/her spouse in the year in which he/she purchases an investment exceeds $1,000,000 (a ‘high net worth investor’); or
- he/she is an individual who has had a personal income in excess of $200,000 in each of the two years preceding the current year or has a joint income with his/her spouse of $300,000 in each of those years and has a reasonable expectation of reaching the same income level in the year in which he/she purchases an investment; or
- it is an entity in which all individual members, partners or beneficiaries (as the case may be) fall into the classes set out in (i) to (iii) above; or
- it is a body corporate that has total assets of not less than $5,000,000, whether such assets are held solely by that body corporate or partly by any other body corporate of which it is a subsidiary or holding company; or
- it is an unincorporated association or trust that has total assets of not less than $5,000,000.
Requirements |
Description |
General |
|
|
Company, Unit trust, Limited partnership |
|
No |
Share capital or equivalent |
|
|
USD 100,000 |
|
None |
Directors |
|
|
2 |
|
Yes |
|
No |
Service Providers Required |
|
|
Yes |
|
Yes |
|
Yes |
|
Yes |
- Low setup costs
- Quick and easy regulatory notification process
- No investment restrictions
- Favourable tax environment
- End to end comprehensive service
- Speedy and efficient service
- Expert advice on structuring options
- Dedicated ongoing compliance support
- Extensive network pool of service providers