On 31 July 2018, the Cyprus Parliament enacted Law 124(I)/2018
Alternative Investments Funds Law of Cyprus (the AIF
law) which allowed for the establishment of a new
investment vehicle called Registered Alternative Investment Funds
(RAIF).
The AIF Law 2018
With revocation of the Alternative Investment Funds Law
131(I)/2014 and the enactment of the AIF law 2018, RAIFs are not
subject to authorisation requirements to commence their operations
by Cyprus Securities and Exchange Commission (the
CySEC) or any other authority since in
effect a RAIF is indirectly subject to regulatory supervision
through its Alternative Investment Fund Manager
(AIFM) established in Cyprus or in
another EU Member State. As a result of its flexible regulation, it
is now swift, cost-efficient and simple to set up, manage and
operate a Cyprus AIF.
