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Requirements for the appointment of Depositary for AIFs (updated)

 

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 an updated Summary outlining the requirements for the appointment of a Depositary to the different types of AIFs under the new Alternative Investment Funds Law 124(I)/2018 and the Alternative Investment Fund Managers Law.

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

 

 

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