22nd Jun 2015
An amendment of the Alternative Investment Funds Managers (AIFMs) Law, 56(I)/2013, aiming at harmonising Cyprus legislation with certain provisions of the EU Directive 2014/65 was recently approved by the Parliament. According to the amending legislation, an AIFM of the Republic of Cyprus, in addition to the management of EU AIFs established in another member state, is also allowed to provide other specified investment services in that member state. Accordingly, an EU AIFM (an AIFM of a member state other than Cyprus), in addition to the management of AIFs of the Republic, is also allowed to provide other specified investment services in the Republic of Cyprus. However, an AIFM of an EU member state other than Cyprus, which intends to provide these additional investment services in Cyprus, shall only be allowed to do so upon receipt of a transmission notification from the competent authority of its home Member State.
The additional services that may be provided by the said AIFMs are the following: