uci in luxembourg
TRANSCRIPT
UCI in Luxembourg
A presentation brought to you by StartLuxembourgFund.com
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Investments in Luxembourg
Luxembourg has a worldwide reputation as being one of the most attractive jurisdictions chosen by foreign investors for setting up an investment fund.
Funds in Luxembourg are regulated by the 2010 Law on Undertakings for Collective Investments (UCI).
Luxembourg legislation allows foreign investors to set up various types of investments funds, in accordance with their investment plans.
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UCI in Luxembourg: legal structures
Investors can set up one of the following legal structures:
• Fonds Commun du Placement (FCP);
• Societe d’Investissement a Capital Variable (SICAV);
• Societe d’Investissement a Capital Fixe (SICAF).
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FCP in Luxembourg
Investors who want to open an investment fund in Luxembourg can set up a FCP.
The FCP in Luxembourg does not have a legal entity. The assets of FCP are under the surveillance of a management company, appointed to represent the FCP.
It is necessary that the net assets of the FCP to be of minimum EUR 1,250,000.
Our team of financial experts can offer more details.
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SICAV in Luxembourg
Another way through which foreign businessmen can invest in Luxembourg is represented by the SICAV structure.
The SICAV is an open-ended investment company with a variable capital, which must always have the same value as the fund’s net assets.
The minimum value of the net assets is EUR 300,000.
It is regulated by the Fund Law in Luxembourg.
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SICAF in Luxembourg
Businessmen can also set up a SICAF structure. It represents a closed-ended investment company in which the net assets of the fund do not have to be of the same value as the capital.
It can be formed as a public limited company, a limited liability company, partnership limited by shares or cooperative.
The SICAF structure allows investors to establish sub-funds, which will carry out different investment policies.
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Authorization of an UCI in Luxembourg >>
UCI in Luxembourg can function under the supervision of the Commission de Surveillance du Secteur Financier (CSSF).
Under the law issued on 17th of December 2010, an UCI can start its activity on the territory of Luxembourg after having received the CSSF authorization.
Our team of financial representatives can offer more details on how to register an UCI in Luxembourg.
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>> Authorization of an UCI in Luxembourg
An UCI set up as a FCP will receive the authorization only after the CSSF has approved the management company that will supervise the fund’s investment activities.
Under the Article 129 of the 2010 Law, the manager of the investment fund or the management company representing the fund must always notify CSSF if there are any changes on the information provided to CSSF after the incorporation of the fund.
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Legal forms for SICAV/SICAF
In the situation of funds established as SICAV/SICAF, the investors can set up the following entities:
• public limited company (SA);
• private limited company (SARL);
• partnership limited by shares (SCA);
• limited partnership (SCS);
• special limited partnership (SCSp).
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Consultancy Services in Luxembourg
Recently, the local authorities have created a new type of investment fund, the reserved alternative investment fund (RAIF), which follows the regulations of the alternative fund managers directive (AIFMD).
Please contact our team of financial consultants for more details on the legislation applicable to this type of fund.
At the same time, our financial experts can also provide assistance on the taxation applicable to such vehicles.
Thank you for your attention!
For more information please contact us at:
(+44)203-287 0408 (for international clients)
www.startluxembourgfund.com
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