Amendments to Bermuda's Investment Business Act 2003 come into force on 1 July 2022. It brings into regulatory scope Bermuda-incorporated entities that carry out investment business outside Bermuda, even if they do not employ staff at physical premises in Bermuda. Entities that have previously been granted an exemption, as well as non-resident providers, will either have to be licensed under the Act or register for a new exemption. There will be a 12-month transition period to allow existing entities to apply for licensing or registration.
News Source：【Conyers 2022/6/10】