Investment Funds have progressively developed to enhance Cyprus as an investment & financial services jurisdiction.
Our Law Firm provides legal assistance to clients who wish to form a Cyprus Investment Fund in cooperation with active members of the Cyprus Investment Fund Industry.
Cyprus Alternative Investment Funds (AIFs)
AIFs are authorized by the Cyprus Securities and Exchange Commission (CySec), the authority in charge of supervision and regulation of investment funds in Cyprus.
Legal Form: Variable Capital Investment Company (VCIC) or Investment Limited Partnership (LP) or Common Fund (CF) & AIF with unlimited number of persons only.
Structure: Single Fund or an Umbrella Fund.
Type: Unlimited number of investors (UNP) marketed to retail or to well-informed and/or professional investors, or Limited number of investors (LNP), up to 50, marketed only to well-informed and/or professional investors.
Management: Self-managed or externally managed, and subject or not to the AIFMD (Alternative Investment Fund Manager Directive) depending on the value amount of the fund.
Minimum capital: Different according to whether it is externally managed, self-managed with UNP or self-managed with LNP.
Registered AIFs (‘RAIFs’)
The RAIF is an AIF with the following characteristics:
It is subject to authorization from its external licensed fund manager (AIFM), not CySec.
It can only be externally managed.
It can only be addressed to well-informed and/or professional investors.
It can be set up as a: Mutual fund or Investment Company or Partnership.
Undertakings for Collective Investment in Transferable Securities (UCITS
UCITS Funds are collective investment portfolios that invest in transferable securities and / or other liquid financial instruments, which operate on the principle of risk spreading, and provide low investment risk and high level of investor protection.
Legal Form: Common fund (CF), Variable capital investment company (VCIC).
Minimum capital: it varies according to whether the UCIT is self-managed or third-party managed.
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