17 July 2019
Appointment of Depositary for AIFs
Relevant to:
- Alternative Investment Funds (“AIFs”)
- Alternative Investment Funds with Limited Number of Persons (“AIFLNP”);
- Registered Alternative Investment Funds (“RAIFs”).
The Cyprus Investment Funds Association (“CIFA”) has prepared a Summary outlining the requirements for the appointment of a Depositary to the different types of AIFs under the new Alternative Investment Funds Law of 2018 L.124(I)/2018.
The abovementioned summary focuses on the following areas:
- Requirements for the appointment: This section refers to the requirements for Depositary appointment for the different types of AIFs;
- Authorisation for appointment: This section refers to the procedure to be followed for the appointment of a Depositary by the different types of AIFs and its approval by CySEC;
- Domicile: This section refers to the domicile country of the Depositary for the different types of AIFs;
- Legal References: This section lists the Articles of the AIF Law 124(I)/2018 and the AIFM Law 56(I)/2013 referring to the Depositary;
- Services of the Depositary: This section lists the services that a Depositary shall provide to the different types of AIFs;
- Eligible Providers of the Depositary: This section refers to Financial institutions that are eligible to be appointed as a Depositary for the different types of AIFs.
For assistance or any additional information feel free to contact our Funds Compliance Team at info@mnkriskconsulting.com