This specialised seminar provides an in-depth understanding of the Alternative Investment Fund (AIF) sector in Cyprus, covering the legal, structural, and operational aspects of AIFs under both national and EU frameworks. Participants will explore the evolving regulatory landscape, fund structures, investor categories, and the roles of key stakeholders including Fund Managers, Administrators, and Compliance Officers.

With the recent AIFMD II updates and the introduction of the Cyprus Fund Administrators Law of 2025, this program equips professionals with the latest knowledge and compliance requirements necessary for operating within the investment fund industry.

The session combines regulatory insights, practical examples, and industry updates, enabling participants to understand how AIFs function, how they are structured, and what is required to manage them effectively within a compliant framework.

Scope

This seminar aims to provide participants with a comprehensive understanding of the Alternative Investment Fund (AIF) ecosystem in Cyprus, focusing on both theoretical and practical dimensions. It will:

• Explain the key legal and regulatory frameworks governing AIFs in Cyprus, including alignment with EU directives and the latest developments under AIFMD II.
• Examine the impact and implications of the new Cyprus Fund Administrators Law of 2025 on fund operations and compliance obligations.
• Present the various AIF structures available in Cyprus and their suitability for different investor types and asset classes.
• Clarify the roles, responsibilities, and interrelations among key stakeholders such as Fund Managers, Depositaries, Administrators, and Compliance Officers.
• Highlight operational and governance best practices to ensure regulatory adherence and effective fund management.
• Offer practical insights through real-life case studies and examples from the Cyprus fund industry.
• Equip participants with the knowledge and tools to navigate the evolving investment fund landscape and ensure readiness for regulatory and operational challenges

This program is designed for:

• Fund Managers and Administrators
• Compliance and Legal Officers
• Financial Services Professionals
• Corporate Service Providers
• Accountants and Auditors working with investment structures
• Professionals involved in regulatory compliance and fund operations

Section 1: The Collective Investment Scheme Sector in Cyprus

• Definition of AIFs under the AIF Law 124(I)/2018
• The role of CySEC and the EU Directives (AIFMD, UCITS)
• Structures: UCITS vs AIFs
• Regulatory advantages of the Cyprus jurisdiction

Section 2: Alternative Investment Funds – Characteristics and Structures

• Open-Ended vs Close-Ended Funds
• Single Scheme vs Umbrella Scheme
• Investor categories: Professional, Well-Informed, Retail
• Legal structures: Variable Capital Investment Companies (VCICs) and Limited Partnerships
• RAIFs (Registered Alternative Investment Funds) – features and supervision

Section 3: The Role of the Fund Manager and Fund Administrator

• Internal vs External Management
• Core functions: Portfolio and Risk Management
• The importance of segregation and independence of functions
• The new Cyprus Fund Administrators Law of 2025 – scope, licensing, and organizational requirements
• Fund Administration services and compliance obligations

Section 4: Pending Changes under AIFMD II

• Key updates and implications for AIFMs
• Enhanced delegation framework and disclosure obligations
• Loan origination funds: new requirements and restrictions
• Liquidity management tools and supervisory powers
• Practical compliance steps for implementation by April 2026