FINANCIAL LICENSING
Investment Funds
License In Cyprus
Cyprus Alternative Investment Funds (AIFs) License
AIF (Alternative Investment Fund) under the AIFMD Directive of the EU is an onshore Cyprus and European regulated investment fund (Full EU Cross Border Fund), that operates for the sole purpose of collective management of its portfolio by investing in any predefined asset class and/or other liquid/illiquid instruments to the interest of its shareholders.
- Cyprus is one of the most efficient jurisdictions for Funds in Europe in all areas (e.g. administration, auditing, and custody/depository fees)
- Efficient, experienced, responsive, and accessible regulatory authority (CySEC)
- License granted by CySEC is valid to all EEA jurisdictions
- Financial reporting system based on IFRS and compliant with OECD guidelines
4-6 Months
Licensing Time
12.5%
Taxation ( On Audit )
License Type
- Alternative Investment Funds (AIFs)
- Registered Alternative Investment Funds (RAIFs)
Key Information You Need To Know
Required
Information
Information
Process
Required
Following documents are required to apply for license application.
For Each Director , Shareholder & Ultimate Beneficial Owner
- Notarised/Certified Passport Copy
- Notarised/Certified Proof of Address
- Notarised/Certified Bank Statement
- Bank Reference Letter
- Curriculum Vitae
Please provide below, if the company has corporate shareholder :
- Certificate of incorporation
- Memorandum and articles of associations.
- Articles of Incorporation
- Register of Directors & Shares
- Certificate of good standing (if the company is more than 12 months old)
Other Documents Required :
- Proof of Source of Wealth
If you have any questions, please feel free to contact us or write to support@startingoffshore.com
Information
Company Structure :
- One shareholder
- 2 Executive & 2 Non Executive Directors
Taxation :
- Standard corporate tax rate of 12.5%
- 0% Tax For Corporate Gain
- Lowest VAT at 19%
- No withholding tax on dividends
- An extensive network of double taxation treaties
Accounting & Auditing:
- Audit should be done from Cyprus
- The Company will be required to fil audited financial statements and tax return within 3 months from its balance sheet date.
- Accounting records should be kept at the local offices of the administrator.
Registered Agent & Office – Required
Company Secretary- Required
PI Insurance Cover- Required
Local Employees in Cyprus – Required
If you have any questions, please feel free to contact us or write to support@startingoffshore.com
Information
Alternative Investment Funds – AIFs
AIF (Alternative Investment Fund) under the AIFMD Directive of the EU is an onshore Cyprus and European regulated investment fund (Full EU Cross Border Fund), that operates for the sole purpose of collective management of its portfolio by investing in any predefined asset class and/or other liquid/illiquid instruments to the interest of its shareholders.
Registered Alternative Investment Funds – AIFs
A RAIF is similar to AIF however; it is registered and regulated under the responsibility of the AIFM hosting it, whereby all operational and marketing efforts are conducted under the liability of the AIFM as a European fully passported Fund Management Structure.
AIFs & RAIFs Characteristics
- AIFs or RAIF follow similar legal and regulatory principles whereby they are both considered a Fund with Its shares redeemed or repurchased directly or indirectly by its assets following an application of its shareholders as defined the Fund’s Prospectus.
- Its capital is increased by the issue of new shares, whereas its capital is decreased by the redemption or the repurchase of the old ones. Hence it adopts the Variable Capital Investment Company statutes.
- The value of its shares is reflected by the net asset value (NAV) of its assets.
- AIF’s are marketable to qualified, professional or institutional investors both internationally and within the EU member States (full pass-porting rights within EU).
If you have any questions, please feel free to contact us or write to support@startingoffshore.com
Process
In order to acquire a license, following steps will be carried out :
- The legal vehicle for the fund must be registered with registrar of companies (FCIC, VCIC or LLP).
- All the personnel and/or external associates involved in the fund must be identified and committed through letters of intent
- The prospectus must be prepared
- Preparation and submission to CySEC of application with all necessary supporting documents.
- Approval and commencement of operations
If you have any questions, please feel free to contact us or write to support@startingoffshore.com
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