Cyprus is one of the fastest growing European investment fund destinations. The major attractions for investors include the island`s established expertise being an international business centre, the competitive costs, a solid network of tax treaties, the strong ties to key markets such as Russia, the CIS, and CEE, it`s close proximity to the Middle East and its strong services sector.
At the end of 2013, Cyprus had €3 billion of assets under management and over 100 funds. The recently updated regulatory framework provided by the new law on Alternative Investment Funds passed on the 25.07.2014 is set to further cement the island`s status as one of the most attractive EU fund centres.
The new legislation repeals the previous framework contained in International Collective Investment Schemes Law of 1999. The Cyprus Securities and Exchange Commission are now the competent regulatory and supervisory body for alternative investment funds. All investment products as well as asset managers (Alternative Investment Fund Managers, UCITS Management Companies, Cyprus Investment Firms) are now under the regulation of a single authority.
For further information relating to investment funds and the legal regulatory framework in Cyprus contact us using [email protected]
Theodorou Law is a Cyprus law firm with Cyprus lawyers and other legal experts on legal matters involving Cyprus law, EU law and international law. The above should be used as a source of general information only. It is not intended to give a definitive statement of the law and is subject to the disclaimer.