Yes. Regardless of the type of registered business you have, it is necessary to have a physical address in Luxembourg.
In such case, the notary issues a “certificat de coutume”, which is an equivalent of the Trade and Companies Register ​certificate.
Some of the relevant legal and regulatory frameworks in the Luxembourg funds market include:
- The RAIF Law
- The New ELTIF Regulation
- The Luxembourg Specialized Investment Fund Law
The minimum capital requirement and the duration required to reach the minimum capital within the authorisation
period vary depending on the type of fund established.
Yes. A UCITS must obtain authorisation from the Commission de Surveillance du Secteur Financier (CSSF) before
commencing its activity. The draft documents and information must be compiled and submitted to the CSSF with the
assistance of lawyers/auditors and/or a bank in Luxembourg.
UCITSÂ may be established in different forms. You can establish a UCITS as an FCP or SICAV/SICAF which may be set up as a
single fund or as an umbrella fund with multiple compartments.
A RAIF may be established in different forms. You can establish a RAIF as an FCP or SICAV/SICAF which may be set up as a
single fund or as an umbrella structure with an unlimited number of compartments.
The requirements for successfully establishing a fund vary from one fund to another, particularly with regulated and
unregulated fund vehicles.
The type of investment vehicle (regulated or not) and the relevant AIFMD regime will determine the duration of the setup
process. A regulated AIF’s authorisation procedure typically takes four to six months from the time the initial application is
filed to the CSSF. Meanwhile, an unregulated AIF can take one to three months to set up on average.
AIFs can be set up as a single fund or an umbrella fund with several compartments, and they are suitable for investors with
higher investments. AIF also invests in all types of investments. AIFs must obtain CSSF approval and appoint an Alternative
Investment Fund Manager (AIFM).