The Alternative Investment Fund Managers Directive (AIFMD 2011/61/EU), entered into force on 21st July 2011, with the aim of providing for an internal market for Alternative Investment Fund Managers (AIFMs) and a harmonised regulatory and supervisory framework for the activities within the EU of all AIFMs.
The key objectives were to reduce systemic risk and enhance investor protection, with the corresponding benefit for AIFMs being a pan-European “passport” to provide management services and distribute funds across the EU.
Cyprus has the tools to develop as a preferred platform for the cross border placement of Alternative Investment Funds (AIFs) to professional investors in the EU, while concurrently allowing non-EU managers to access the European market by choosing Cyprus as their Member State of Reference and entrance point into the EU. Once authorised in Cyprus, an AIFM is granted rights to the European “passport” allowing them to offer their services and market their AIFs cross border.
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