The provisions of the EU Directive 2011/61/EU on alternative
investment fund managers (AIFMD) have been transposed into the Law
on Alternative Investment Fund Managers L. 8(I)/2015, as in force
(the Cyprus AIFM Law). On a Cyprus-specific level, the Law on
Alternative Investment Funds L. 124(I)/2018 (the Cyprus AIF Law)
put in place a regime applicable to the authorisation, operation
and regulation of such collective investment vehicles that operate
as alternative investment funds (AIFs) in various legal forms
recognised by the Cyprus AIF Law. Against this legal background,
the EU level 2 framework on AIFMD, together with the secondary
legislation of the Cyprus Securities and Exchange Commission
(CySEC) under the Cyprus AIFM Law and the AIF Law, further
supplement and detail the sound framework for the establishment and
operation of these regulated structures in and from Cyprus. From a
commercial perspective, this regime at the disposal of managers of
AIFs (AIFMs) has