Cyprus:
Raising Of Capital From Investors Within A Specified Time Period
01 July 2019
Elias Neocleous & Co LLC
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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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