ARTICLE
1 July 2019

Raising Of Capital From Investors Within A Specified Time Period

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Elias Neocleous & Co LLC

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Elias Neocleous & Co LLC is the largest law firm in Cyprus and a leading firm in the South-East Mediterranean region, with a network of offices across Cyprus (Limassol, Nicosia, Paphos), Belgium (Brussels), Czech Republic (Prague), Romania (Budapest) and Ukraine (Kiev). A dynamic team of lawyers and legal experts deliver strategic legal solutions to clients operating in key industries across Europe, Asia, the Middle East, India, USA, South America, and China. The firm is renowned for its expertise and jurisdictional knowledge across a broad spectrum of practice areas, spanning all major transactional and market disciplines, while also managing the largest and most challenging cross-border assignments. It is a premier practice of choice for leading Cypriot banks and financial institutions, preeminent foreign commercial and development banks, multinational corporations, global technology firms, international law firms, private equity funds, credit agencies, and asset managers.
In a circular dated 7th June 2019, the Cyprus Securities and Exchange Commission reminded all authorized and registered Alternative Investment Fund Managers of Article 14 of the AIF law which requires them to raise ...
Cyprus Finance and Banking

In a circular dated 7th June 2019, the Cyprus Securities and Exchange Commission ( ' the CySEC' ) reminded all authorized and registered Alternative Investment Fund Managers (AIFMs) of Article 14 of the AIF law which requires them to raise a minimum of EUR 500,000 capital from investors within 12 months from the date authorization was granted.

The payments made by investors should be in cash or assets that relate to the investment of the AIF, free of liens.

Non-cash payments made by investors towards the AIF must be valued at the time of the payment by an independent valuer meeting the requirements of Article 73 of Regulation ( EU ) No.231/2013.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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