After the application of the EU Alternative Investment Fund
Managers Directive 2011/61/EU ("AIFMD"), Cyprus has
uniquely managed to combine the benefits of the sound EU framework
on alternative investment funds and their managers with the
considerable advantages of its common law background, leading
financial services status and strategic geographical location of
Cyprus.
The national framework regulating such funds and their managers
as well the significant investment opportunities have managed to
attract specialised expertise locally to serve the needs of EU and
non-EU investors and to materialise portfolio investments in the
wider region, comprising the Central and Eastern Europe, the Middle
East and Asia. This rapid development of the fund industry in
Cyprus is also attributed to the expertise, efforts and willingness
of market players and the local securities regulator, being the
Cyprus Securities and Exchange Commission ("CySEC"),
which have maintained an open