Bermuda’s Incorporated Segregated Accounts Act: Six Months on


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In January 2020, Bermuda introduced the Incorporated Segregated Accounts Companies Act (ISAC Act) to allow corporate group structures to operate multiple businesses under one umbrella. The introduction of this new legislation enhances the island’s legislative framework and is designed to offer a new corporate structure aimed at attracting more investors in the Island.


Apex is working with Alpha Innovations Ltd. on the implementation of the Island’s first ISAC structure. Alpha Innovations identified the ISAC structure as most suitable for its needs as it provides a platform for investment managers to launch separate funds from, each with their own investment objectives, policies and strategies.


This month, Apex’s Matthew Charleson and Graham MacDonald wrote for Thomson Reuters Regulatory Intelligence on the ISAC Act and its potential uses. Read  Bermuda’s Incorporated Segregated Accounts Act: Six Months On: (subscription required)


Companies wishing to establish an ISAC structure may consider seeking external support surrounding fund administration, registered office services, directorships and other corporate secretarial services. Apex is a key service provider to the first and, at the time of writing, only ISAC, as mentioned above. Apex has the necessary expertise to effectively administer this structure, and can advise potential clients on how to get the most benefit from it.

Whilst the services required by an ISAC may vary, these could include:


  • Full fund administration services for funds utilizing the ISAC structure
  • Transfer agency and AML Officer services
  • Loan administration
  • Cash management
  • Preparation of financial statements and full audit support
  • Custody and depository services.
  • Support making registrations with the Bermuda Monetary Authority (“BMA”)


For more information about these services, please Contact Us


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