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The Alternative Investment Funds Law of 2014 (the “AIF Law”) was enacted by the Cyprus House of Parliament on 10 July 2014.

The Alternative Investment Funds Law of 2014 (the “AIF Law”) was enacted by the Cyprus House of Representatives on 10/07/2014.  The AIF Law repeals the International Collective Investment Schemes Law (the “ICIS Law”) the former legislative framework for investment funds, which has been in place since 1999.

Purpose of the AIF Law

The AIF Law aims to strengthen the funds regime in Cyprus by modernizing and expanding the legal and regulatory product toolbox available to asset managers and promoters of AIFs.

Changes introduced in the regime are in line with recent EU directives on asset management, with emphasis given on transparency rules and investor protection.