Alternative Investment Fund Manager (AIFM) authorisation (Cyprus)
The Alternative Investment Fund Manager (AIFM) authorisation is issued by Cyprus Securities and Exchange Commission (CySEC) under The Alternative Investment Fund Managers Law of 2013 (Law 56(I)/2013). It can be passported to the other EU/EEA states by notification. The official register lists 45 current holders. The legal decision period is 3 months from submission of a complete application, extendable by an additional 3 months where deemed necessary. Ownership changes need the regulator's approval before completion.
At a glance
| Official name | Alternative Investment Fund Manager (AIFM) authorisation1 |
|---|---|
| Also known as | AIFM · AIFM licence · Cyprus AIFM licence · CySEC AIFM licence · Full-scope AIFM authorisation · AIFMD authorisation |
| Issued by | Cyprus Securities and Exchange Commission |
| Jurisdiction | Cyprus |
| Licence family | Fund manager |
| Legal basis | The Alternative Investment Fund Managers Law of 2013 (Law 56(I)/2013)2 The Open-Ended Undertakings for Collective Investment (UCI) Law of 2012 (Law 78(I)/2012)2 Directive 2011/61/EU on Alternative Investment Fund Managers (AIFMD)3 |
| Passporting | EU/EEA passport available |
| Statutory decision time | 3 months from submission of a complete application, extendable by an additional 3 months where deemed necessary3 |
| Public register | official register1 |
| Current holders | 451 |
What it lets you do
| Managing alternative investment funds | Performing portfolio management and risk management for funds that are not UCITS, such as hedge, private equity and real estate funds. |
|---|
Where it is valid
How long it takes
Statutory: 3 months from submission of a complete application, extendable by an additional 3 months where deemed necessary3. Observed: not published. The statutory clock usually starts only when the regulator treats the application as complete, and pauses while it waits for answers to its questions.
Buying a company that already holds it
Prior notification with an objection period. Any natural or legal person proposing to acquire or increase, directly or indirectly, a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% in a CIF, AIFM, or CASP, or to achieve control making it a subsidiary, must submit prior written notification to CySEC under Sections 12 and 13 of Law 87(I)/2017 and MiCA Article 83. CySEC acknowledges receipt within two working days and has a statutory assessment period of 60 working days to oppose the acquisition based on reputation, financial soundness, AML risks, and fit-and-proper criteria. The assessment period may be interrupted once by up to 20 working days (or 30 working days for non-EU entities) to request additional information. If CySEC does not object in writing before expiry, the transaction is deemed approved. Closing without CySEC non-opposition suspends voting rights and risks statutory penalties.4
FM in other countries
| Country | Licence | Regulator | Min. capital | Application fee | Statutory time |
|---|---|---|---|---|---|
| Abu Dhabi Global Market (ADGM) | Fund manager licenceFinancial Services Permission for Managing a Collective Investment Fund (Category 3C) | FSRA | n/a | n/a | n/a |
| Bermuda | Fund Administrator LicenceFund Administrator Licence (Part III, Investment Funds Act 2006) | BMA | n/a | n/a | n/a |
| British Virgin Islands | Fund manager licenceBVI mutual fund recognition (private/professional fund), registration (public fund) or approval (incubator/approved fund) - funds are recognised/registered/approved, not 'licensed' | BVI FSC | n/a | n/a | n/a |
| Cayman Islands | Regulated Mutual FundRegulated Mutual Fund (registered, master, or administered fund under the Mutual Funds Act) | CIMA | n/a | n/a | n/a |
| Cayman Islands | Registered Private FundRegistered Private Fund under the Private Funds Act | CIMA | n/a | n/a | n/a |
| Cyprus | Alternative Investment Fund Manager (AIFM) authorisation | CySEC | n/a | n/a | ~3 mo |
| Cyprus | Sub-threshold Alternative Investment Fund Manager registration | CySEC | n/a | n/a | n/a |
| Cyprus | UCITS Management Company authorisation | CySEC | n/a | n/a | n/a |
| Czech Republic | Sub-threshold Alternative Investment Fund Manager registrationSub-threshold Alternative Investment Fund Manager registration pursuant to Section 15 of AMCIF | CNB | n/a | CZK 10,000 | ~1 mo |
| Czech Republic | Investment Company / Fund Manager licence | CNB | n/a | CZK 50,000 | ~6 mo |
| Dubai International Financial Centre (DIFC) | Fund manager licenceFinancial Services Permission for Managing a Collective Investment Fund (Category 3C) | DFSA | n/a | USD 10,000 | n/a |
| Estonia | Small fund manager registration without activity licence | FI | n/a | n/a | n/a |
| Estonia | Operating licence as a fund management company | FI | n/a | EUR 600 | n/a |
| France | Portfolio management company authorisation | AMF | n/a | n/a | ~3 mo |
| Germany | Investment management company licence | BaFin | n/a | n/a | n/a |
| Ireland | Alternative Investment Fund Manager (AIFM) Authorisation/Registration | CBI | n/a | n/a | n/a |
| Ireland | UCITS Management Company Authorisation | CBI | n/a | n/a | n/a |
| Luxembourg | Alternative investment fund manager (AIFM) authorisation | CSSF | n/a | EUR 18,000 | ~3 mo |
| Luxembourg | Management company authorisedManagement company authorised under Chapter 15 of the Law of 17 December 2010 | CSSF | n/a | EUR 18,000 | ~6 mo |
| Netherlands | Alternative Investment Fund Manager (AIFM) licenceAlternative Investment Fund Manager (AIFM) licence under Wft Article 2:65 and Directive 2011/61/EU | AFM | n/a | EUR 200 | ~6 mo |
| Netherlands | Fund manager licenceUndertakings for Collective Investment in Transferable Securities (UCITS / ICBE) registration under Wft and Directive 2009/65/EC | AFM | n/a | n/a | n/a |
| Poland | Investment Fund Company licence | KNF | n/a | n/a | n/a |
| Poland | Alternative Investment Company Manager registration / licence | KNF | n/a | n/a | n/a |
| Seychelles | Fund Administrator's LicenceFund Administrator's Licence (and Restricted Fund Administrator's Licence) under the Mutual Fund and Hedge Fund Act 2008 | FSA | n/a | n/a | n/a |
| Spain | Fund manager licence (SGIIC) | CNMV | n/a | EUR 10,000 | n/a |
| Switzerland | Fund management company licence | FINMA | n/a | n/a | n/a |
| Switzerland | Manager of collective assets licence | FINMA | n/a | n/a | n/a |
| United Kingdom | Fund manager licenceAlternative Investment Fund Manager (AIFM) Authorisation / Registration | FCA | n/a | n/a | n/a |
Values come from each licence's page, where every figure has its source.
Laws behind it
- Alternative Investment Fund Managers Directive: Directive 2011/61/EU
- UCITS Directive: Directive 2009/65/EC
- European Crowdfunding Service Providers Regulation: Regulation (EU) 2020/1503
Sources
- cysec.gov.cy: authorised aifm · retrieved 2026-09-24
- cysec.gov.cy: collective investment · retrieved 2026-09-24
- EUR-Lex: CELEX 32011L0061 · retrieved 2026-09-24
- cylaw.org: full · secondary · retrieved 2026-09-24
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