Cyprus International Investment Funds Platform enriched

23th of July, 2014
The Members of Parliament of the Republic of Cyprus unanimously passed the Law of the Alternative Investment Funds of 2014.   The law creates a new institutional framework governing the establishment and operation of Alternative Investment Funds in the Republic Cyprus, providing transparency and protection in the field of collective investments, while it brings the legislation which regulates the international collective investment schemes, in accordance with the European law and similar arrangements that are promoted in other  EU Member States. In addition it enables Cyprus to have a single regulator for all types of Investment Funds, which is the Cyprus Securities and Exchange Commission (CySEC).

The  AIF Law that was passed, along with the existing  legislation of  the Alternative Investment Fund  Managers Directive (AIFMD)   as well as the Undertakings in  Collective Investment in Transferable Securities (UCITS IV) creates an attractive and  competitive environment for the further enhancement and development of the  fund industry of Cyprus, which now can accommodate all types of funds, while offering several advantages to International Asset Managers and Investors such as: EU Pass porting, re-domiciliation, competitive costs, high quality of services and at the same time ensuring confidence and adequate protection for investors.