Common Fund – Limited Partnership – Investment Company
Cyprus Investment Fund may be established with limited or unlimited duration and can take the following legal structures:
(a) investment company in the legal form of a limited liability company with fixed capital (FCIC);
(b) investment company in the legal form of a limited liability company with variable capital (VCIC);
(c) common fund (CF), which is a contractual pool of assets without legal personality;
(d) limited partnership (LP) with or without legal personality.
Where is the Cyprus Alternative Investment Fund (AIF) established:
(a) in the legal structure of a common fund, its name shall include the term ‘common fund’.
Also ;
(b) in the legal structure of an investment company, its name shall include the term ‘fixed capital investment company’ or ‘variable capital investment company’, as appropriate;
and
(c) in the legal structure of a limited liability partnership, its name shall include the term ‘limited liability partnership’.
| Investment Company with Variable Capital | Investment Company with Fixed Capital | Common Fund* | Limited Partnership** | |
|---|---|---|---|---|
| AIF | √ | √ | √ | √ |
| AIFLNP | √ | √ | X | √ |
| RAIF | √ | √ | √ | √ |
*A common fund can be converted to Investment Company or Limited Partnership and it is only available when established as AIF with unlimited number of persons or as Registered AIF.
**Amendments to the Partnership Law allow the General Partner to elect for legal personality of the Limited Partnership upon its establishment, while maintaining tax transparency status.
