Alternative Investment Funds (AIFs)

Cyprus has developed a competitive framework for AIFs, which are regulated by the Cyprus Securities and Exchange Commission (CySEC) under the Alternative Investment Funds Law. Cyprus offers three main types of AIFs:

1. AIFs with an unlimited number of investors (AIFs-UNIs)
2. AIFs with a limited number of investors (AIFs-LNIs)
3. Registered Alternative Investment Funds (RAIFs)

Chambers & Co’s services encompass all aspects of AIFs, from the establishment and licensing process to ongoing compliance and management.

Chambers & Co’s team of experienced professionals provides comprehensive guidance on the establishment and licensing of AIFs in Cyprus, including:

1. Advising on the selection of the most suitable AIF structure based on the specific needs and objectives of the client.
2. Drafting and reviewing the application documents, such as the offering memorandum, articles of association, and management agreements, ensuring compliance with all regulatory requirements.
3. Liaising with local regulatory authorities, including CySEC, to facilitate the approval process.
4. Assisting with the appointment of qualified service providers, such as the depositary, external manager, and auditor, and negotiating service agreements on behalf of clients.

To ensure that AIFs remain compliant with regulatory requirements, Chambers & Co offers ongoing support, including:

1. Monitoring and advising on regulatory reporting and disclosure obligations, helping clients stay current with evolving regulations.
2. Ensuring compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations through the implementation of robust policies and procedures.
3. Advising on corporate governance and risk management practices to safeguard the interests of the AIF and its investors.
4. Overseeing the maintenance of the AIF’s legal and financial records in accordance with applicable laws and regulations.

Chambers & Co also provides assistance in fund restructuring and liquidation, including:

1. Conducting thorough analyses of AIFs facing financial or regulatory challenges and advising on the most effective restructuring strategies.
2. Assisting with the voluntary liquidation process, including the preparation of all necessary documentation and coordination with relevant authorities.
3. Representing clients in court proceedings related to involuntary liquidation or bankruptcy, advocating for the best possible outcome.

Chambers & Co is dedicated to providing comprehensive, tailored legal services to support the establishment and ongoing management of AIFs in Cyprus. With a deep understanding of the local regulatory environment and a commitment to client satisfaction, the firm is well-positioned to help investors and fund managers navigate the complexities of the AIF landscape in Cyprus. By choosing Chambers & Co, clients can trust in the firm’s expertise and experience to guide them through every step of the process, from inception to ongoing management and beyond.