An overseas investment fund must notify the Bermuda Monetary Authority (the “Authority”) in writing prior to the investment fund being managed or promoted in Bermuda; and where the Authority is satisfied that the overseas investment fund has met the requirements under the Act, the Authority shall designate such fund as an Overseas Fund pursuant to Section 5A(7) of the Act.
It is important to note that Designated Overseas Funds are not subject to the Authority’s supervision and regulation, rather they are subject to the laws and regulations in their home country.
