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ARTICLE · 01 NOVEMBER 2016

Alternative Investment Funds Under Cyprus Law

P. N. Kourtellos & Associates
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Alternative Investment Funds are defined by the Alternative Investments Law 2014 as "any collective investment undertaking, including investment compartments thereof..."

CyprusFinance and Banking
Katerina Georgiou
Katerina Georgiou
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Alternative Investment Funds are defined by the Alternative Investments Law 2014 as "any collective investment undertaking, including investment compartments thereof, which, collectively:

  1. raises capital from a number of investors, with a view to investing it in accordance with a defined investment policy for the benefit of those investors; and
  2. does not require authorisation pursuant to section 9 of the Open-ended Undertakings for Collective Investments Law of 2012 or pursuant to the legislation of another Member State which harmonises the article 5 of the Directive 2009/65/EC"

The law governing AIFs is the Alternative Investment Funds Law (AIF Law) that repeals the International Collective Investment Schemes Law of 1999 (ICIS Law 47(I)/1999). The Cyprus House of Representatives voted for that on 10th of July 2014. The Cyprus Securities and Exchange Commission (CySEC) is the body responsible for the establishment and regulation of AIFs. Also, the

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