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New legislation regarding alternative investment funds in Cyprus
Area(s) of Practice: Corporate and Commercial Law

On 25 July 2014, the Alternative Investments Funds Law of 2014 (the “Law”) was published in the Republic’s Official Gazette. This new and modernised legislative framework, which governs the establishment and functioning of alternative investment funds (“AIFs”) in Cyprus, is supervised by the Cyprus Securities and Exchange Commission.

The Law replaces the International Collective Investment Schemes Law and aims at providing the necessary protection to investors which may otherwise not be covered by EU Directives. It also includes provisions regarding, inter alia, the organisational requirements of AIFs, authorisation of AIFs, transparency and reporting obligations as well as the marketing of its units/shares.

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