Set-up Services
The fund jurisdiction for your target market, single cell or umbrella structure, number and type of classes, fee structure, the counterparties, service providers, the depositary, the frequency of NAV… let us help you avoid pitfalls and set up the Fund you have in mind for the investments and transactions you have in mind.
Our Set-Up Services includes:
• Assistance with initial fund structuring decisions
• Sourcing of counterparties and service providers including Depositary, Brokers, Legal, etc.
• Sourcing of function holders where necessary
• Assistance with drafting the Prospectus and other fund documents
• Preparation and Promotion of Application with Regulator
• Activation and Launch of Fund
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AIF -
RAIF -
AIF-LNP -
Fund jurisdictions
AIF : Alternative Investment Funds
The Cyprus AIF (Alternative Investment Fund) is a regulated investment fund, launched at July 2014 under the Cyprus Alternative Investment Fund (AIF) Law. The AIF can be an attractive solution for investors:
- Unlimited number of investors
- Fall under the AIFMD
- Freely transferable investor shares
- Addressed to retail, or well-informed and/or professional investors
- May be subject to certain investment restrictions depending on the investor type and the overall investment policy
- Multiple Compartments Possible
- Can operate as open or closed-ended
- No Minimum Capital Requirements (unless self-managed which are subject to €125,000)
- Minimum assets under management of €500,000 within 12 months from authorisation
- Units of AIFs may be listed
- Requirement to appoint local Depository
AIFs can either be self-managed or can be managed by our authorised AIFM
RAIF : Registered Alternative Investment Funds
- No licensing required
- Can be registered within 1 month
- Addressed only to well-informed and/or professional investors
- No Investment Restrictions
- No Minimum Capital Requirements
- Minimum assets under management of €500,000 within 12 months from authorisation
- Multiple Compartments Possible
- Can operate as open or closed-ended
- Units of RAIFs may be listed
- Requirement to appoint an AIFM as external manager
- Requirement to appoint local Depository
RAIFs can be externally-managed by our authorised AIFM
AIF-LNP : Alternative Investment Fund for Limited Number of Persons
- Light Regulatory Regime (does not fall under the AIFMD)
- Addressed only to well-informed and/or professional investors
- Not subject to investment restrictions
- May invest in any assets in any combination
- Lower registration expenses and ongoing costs with respect of other AIFs
- Under certain conditions an AIF-LNP does not need to appoint certain counterparties (e.g. depositaries)
- Maximum of 50 professional or well-informed investors
- The setup and operations of an AIF-LNP that is self-managed can be demanding and costly in terms of personnel and regulatory requirements.
- Multiple Compartments Possible
- No Minimum Capital Requirements (unless self-managed which are subject to €50,000)
- Minimum assets under management of €250,000 within 12 months from authorisation
- Freely transferable investor shares
- Assets under management do not exceed the AIFMD thresholds of €100 million (including leverage) or €500 million (without leverage, 5-year lock-up period for investors)
- Can operate as open or closed-ended
- Units of AIFs can not be listed
AIF-LNPs can either be self-managed or can be managed by our sub threshold AIFM
Fund jurisdictions
We can help you set up funds in various European and offshore jurisdictions, depending on the size, target market and transaction you have in mind.
Key Benefits of Cyprus Funds:
a. Cost-efficient and simple to set-up, manage and operate
b. Modern regulatory framework fully in line with relevant EU directives
c. Increased flexibility as a number of asset classes can be included in an AIF investment strategy
d. Significant tax incentives offered by the country’s advantageous tax framework
e. Full transparency through Annual audited reports to CySEC and investors (financial statements, borrowing information, portfolio information and Net Asset Value)
f. Supervised by a competent and accessible regulatory authority
