Cyprus AIF (Non-UCITS) Fund
- AIF’s available to the public in the form of a company, a limited partnership or a mutual fund.
- AIF’s available to experienced investors in the form of a company, a limited partnership or a mutual fund.
- AIF-LNI with limited number of investors in the form of a company or a limited partnership. Some of the advantages enjoyed by an AIF are:
- Tax exceptions on profits from disposal of shares and other financial instruments and foreign dividends
- No withholding tax for interest and dividend payments made to non-residents and on redemption of units
- Advantage of the double taxation treaties of Cyprus with other jurisdictions
- Tax Residency Certificate can be obtained
- Dividends distributed or deemed to be distributed by an AIF to Cyprus tax residents are subject to 3% Special Defense Contribution (SDC), compared to 17% that applies to dividends from normal limited liability companies to Cyprus tax residents.
- No formal requirement to appoint local Directors.
- Under certain conditions no requirements to appoint an external investment manager and a custodian.
- Corporate vehicle permitted
- Local physical office required
- Minimum subscription
- Minimum investors
- Minimum capital
- Minimum number
- Corporate directorship allowed
- Local director required
- Custodian
- Fund manager/Investment manager
- Fund administrator
- Auditors
- No capital gains on disposal of securities
- Interest received is taxed at the corporate tax rate of 10%
- There is no tax on dividends received from local companies or international companies
- Absence of withholding taxes on dividend payments from Cyprus to non-residents
- Reduced deemed dividend distribution tax to Cyprus Resident investors to 3% from 15%
- Competitive, modern and transparent legal and regulatory framework
- Benefits from the strong European Union Fund’s Legislation
- Numerous recognised fund service providers established in Cyprus, ranging from global names to local independent operators servicing all types of funds at very competitive rates
- Advanced and attractive tax environment
- End to end comprehensive service
- Speedy and efficient service
- Expert advice on structuring options
- Dedicated ongoing compliance support
- Extensive network pool of service providers
Requirements |
Description |
General |
|
|
Contractual Funds, Variable Capital Companies, International Unit Trusts, International Variable Capital Companies |
|
No |
Share capital or equivalent |
|
|
€125,000 for professional investors |
|
Upto 75 for a limited fund |
|
€200,000 or €300,000 if self-managed |
Directors |
|
|
2 |
|
Yes |
|
No |
Service Providers Required |
|
|
Yes (local) |
|
Yes |
|
Yes |
|
Yes (local) |