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ARTICLE · 06 JUNE 2020

Cyprus Is Well-positioned For Alternative Investment Funds

Elias Neocleous & Co LLC
Elias Neocleous & Co LLC
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Elias Neocleous & Co LLC

Elias Neocleous & Co LLC

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Alternative investment funds (AIFs) are an important source of finance for companies in EU Member States: there were 30,357 AIFs in the EU as of 2018, and, as measured by Net Asset Value (NAV)...

CyprusFinance and Banking
Elias Neocleous & Co LLC
Elias Neocleous & Co LLC
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Alternative investment funds (AIFs) are an important source of finance for companies in EU Member States: there were 30,357 AIFs in the EU as of 2018, and, as measured by Net Asset Value (NAV), amounted to €5.8 trillion or nearly 40 per cent of the total EU fund industry, according to a report by the European Securities and Markets Authority (ESMA).

Cyprus now has a legal structure that supports the AlF industry, according to Dimitris Papoutsis, legal consultant with Elias Neocleous LLC in Limassol.

"Cyprus' new law on alternative investment funds, Law 124(I)/2018, entered into effect in August 2018, following its publication in the official gazette. The new law repeals and replaces Law 131(I)/2014. Cyprus is also bound by Regulation (EU) 2019/1156 which also addresses AIF issues, but parts of which will not come into effect before August 2021."

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