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International Collective Investments Schemes
Our firm can help in the creation of an international collective investment scheme by assisting with:
- the constitutional documentation and the offering memorandum of the scheme
- the application of the scheme for recognition by the Central Bank of Cyprus
- the offering of administrative services to the scheme
The International Collective Investment Schemes Law, 1999 has provided the required legal framework for the registration, regulation of operations and supervision of CISs
An ICIS can take the following legal forms :
- International fixed capital company
- International variable capital company
- International unit trust scheme, and
- International investment limited partnership
The sole object of an ICIS is the collective investment of funds of the unitholders.
Private International Collective Investment Scheme
The Private ICIS has to satisfy the following requirements:
- take the form of International public variable capital company
- The maximum number of participants in the share capital is 100, and it will be included in the company's articles and memorandum.
- The Private ICIS will be able to invest in any securities at any stockexchange in the world.
- An initial application can be filed with the Central Bank of Cyprus to register the Private ICIS along with the questioners for the directors and shareholders of the ICIS. If these are accepted then we will proceed to register the ICIS
If a company is be formed to administer the ICIS then it must accompany the above questions and application