Registered Alternative Investment Funds of Cyprus (RAIF)
CySEC introduced, and the Cyprus Parliament approved, a new category of alternative investment funds – registered alternative investment funds (“RAIF”).
Focused on professional investors, RAIF funds are characterized by a simplified procedure for creation and operation, as well as a relatively low level of maintenance costs.
RAIF is the same as AIF, however, the responsibility for all their operational and marketing activities lies with the AIF manager, as they are carried out by the fund manager.
Key RAIF Features
- It can be structured either as a so-called “unincorporated collective investment scheme” (Eng. Common Fund), or in more traditional forms for such activities – investment company (Eng. Investment Company) or partnerships with limited liability (Eng. Limited Partnership).
- Can be open or closed
- It can be organized as an “open” (English Open-Ended Fund), “closed” (English Closed-End Fund) investment fund, in the form of an “umbrella-type” (English Umbrella Fund Structures), which is a group of isolated investment centrally managed funds acting under a common market brand.
- Exclusively for professional and / or well-informed investors
- No minimum capital requirements
- The minimum amount of managed assets is at least EUR 500,000 or the equivalent in another currency during the first 12 months after receiving the relevant permission.
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