A scheme which is managed or administered in the Isle of Man but which is not established in the Isle of Man or subject to Isle of Man scheme regulations or approvals (but will be subject to the regulatory regime in their home jurisdiction). Overseas Schemes cannot be sold to the general public in the Isle of Man.
There are few notification requirements for Overseas Schemes. Licenceholders must notify the Authority, via the online portal (https://www.fscreturns.co.im) and within 10 working days, of:-
- Entering into an agreement to provide services to an Overseas Scheme.
- The cessation of services to an Overseas Scheme.
There are no ongoing notification requirements, other than the provision of statistical and pricing error information which must be submitted via the Authority’s online portal on a quarterly basis.
For forms applicable to Overseas Scheme please click here.