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Recent amendments to the laws relating to Alternative Investment Funds

30 August 2018 Financial Regulation

Approximately a month ago, Parliament of the Republic of Cyprus approved an array of significant amendments to the law which governs the establishment and operation of Alternative Investment Funds (AIFs) in Cyprus. The new set of amendments aim to provide investors with less regulated, time efficient and more affordable fund structure. The new legislation emphasizes, amongst others, the enactment of the Cyprus Registered Alternative Investment Funds (RAIFs).

The main characteristics of RAIFs are:

• RAIFs do not require licensing or authorization by the Cyprus Securities and Exchange Commission (CySEC), but have to be registered with the CySEC,
• A Cyprus based depository has to be appointed,
• No minimum capital requirements,
• Can operate as open or close-ended funds,
• It is addressed only to professional, well-informed investors,
• Contains the option for an umbrella structure with multiple investment compartments,
• Can be structured as a common fund, investment company (variable or fixed capital), or limited partnership.

The team of our lawyers can assist you with Funds registration to CySEC, Funds administration, Provision of tax advisory and other related Legal services. Do not hesitate to contact us directly for any inquiry at info@anastalaw.com