# Sub-threshold Alternative Investment Fund Manager registration (Cyprus)

Source page: https://protegra.io/licensing/licences/fund-manager/cyprus-sub-aifm/

The Sub-threshold Alternative Investment Fund Manager registration is issued by Cyprus Securities and Exchange Commission (CySEC) under The Alternative Investment Fund Managers Law of 2013 (Law 56(I)/2013). It is a national licence: it does not give a passport to other EU/EEA states. The official register lists 65 current holders. Ownership changes need the regulator's approval before completion.

## At a glance

| Official name | Sub-threshold Alternative Investment Fund Manager registration [1] |
| --- | --- |
| Also known as | Sub-threshold AIFM · Registered AIFM · Cyprus sub-threshold AIFM registration · Small AIFM registration · De minimis AIFM |
| Issued by | [Cyprus Securities and Exchange Commission](https://protegra.io/licensing/regulators/cysec-cyprus/) |
| Jurisdiction | [Cyprus](https://protegra.io/licensing/jurisdictions/cyprus/) |
| Licence family | [Fund manager](https://protegra.io/licensing/licences/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 | Domestic only |
| Public register | [official register](https://www.cysec.gov.cy/en-GB/entities/aifm/registered/AUTHORISED-SUB-THRESHOLD-AIFMS/) [1] |
| Current holders | 65 [1] |

## What it lets you do

| [Managing alternative investment funds](https://protegra.io/licensing/activities/aif-management/) | 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

_Valid in Cyprus._

## 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)](https://protegra.io/licensing/licences/fund-manager/adgm/) | Fund manager licenceFinancial Services Permission for Managing a Collective Investment Fund (Category 3C) | FSRA |: |: |: |
| [Bermuda](https://protegra.io/licensing/licences/fund-manager/bermuda/) | Fund Administrator LicenceFund Administrator Licence (Part III, Investment Funds Act 2006) | BMA |: |: |: |
| [British Virgin Islands](https://protegra.io/licensing/licences/fund-manager/bvi/) | 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 |: |: |: |
| [Cayman Islands](https://protegra.io/licensing/licences/fund-manager/cayman-islands-mutual/) | Regulated Mutual FundRegulated Mutual Fund (registered, master, or administered fund under the Mutual Funds Act) | CIMA |: |: |: |
| [Cayman Islands](https://protegra.io/licensing/licences/fund-manager/cayman-islands-private/) | Registered Private FundRegistered Private Fund under the Private Funds Act | CIMA |: |: |: |
| [Cyprus](https://protegra.io/licensing/licences/fund-manager/cyprus-aifm/) | Alternative Investment Fund Manager (AIFM) authorisation | CySEC |: |: | ~3 mo |
| Cyprus | Sub-threshold Alternative Investment Fund Manager registration | CySEC |: |: |: |
| [Cyprus](https://protegra.io/licensing/licences/fund-manager/cyprus-ucits/) | UCITS Management Company authorisation | CySEC |: |: |: |
| [Czech Republic](https://protegra.io/licensing/licences/fund-manager/czech-republic-registered-15/) | Sub-threshold Alternative Investment Fund Manager registrationSub-threshold Alternative Investment Fund Manager registration pursuant to Section 15 of AMCIF | CNB |: | CZK 10,000 | ~1 mo |
| [Czech Republic](https://protegra.io/licensing/licences/fund-manager/czech-republic/) | Investment Company / Fund Manager licence | CNB |: | CZK 50,000 | ~6 mo |
| [Dubai International Financial Centre (DIFC)](https://protegra.io/licensing/licences/fund-manager/difc/) | Fund manager licenceFinancial Services Permission for Managing a Collective Investment Fund (Category 3C) | DFSA |: | USD 10,000 |: |
| [Estonia](https://protegra.io/licensing/licences/fund-manager/estonia-small/) | Small fund manager registration without activity licence | FI |: |: |: |
| [Estonia](https://protegra.io/licensing/licences/fund-manager/estonia/) | Operating licence as a fund management company | FI |: | EUR 600 |: |
| [France](https://protegra.io/licensing/licences/fund-manager/france-sgp/) | Portfolio management company authorisation | AMF |: |: | ~3 mo |
| [Germany](https://protegra.io/licensing/licences/fund-manager/germany/) | Investment management company licence | BaFin |: |: |: |
| [Ireland](https://protegra.io/licensing/licences/fund-manager/ireland-aifm/) | Alternative Investment Fund Manager (AIFM) Authorisation/Registration | CBI |: |: |: |
| [Ireland](https://protegra.io/licensing/licences/fund-manager/ireland-ucits/) | UCITS Management Company Authorisation | CBI |: |: |: |
| [Luxembourg](https://protegra.io/licensing/licences/fund-manager/luxembourg-aifm/) | Alternative investment fund manager (AIFM) authorisation | CSSF |: | EUR 18,000 | ~3 mo |
| [Luxembourg](https://protegra.io/licensing/licences/fund-manager/luxembourg-ucits/) | Management company authorisedManagement company authorised under Chapter 15 of the Law of 17 December 2010 | CSSF |: | EUR 18,000 | ~6 mo |
| [Netherlands](https://protegra.io/licensing/licences/fund-manager/netherlands-aifm/) | Alternative Investment Fund Manager (AIFM) licenceAlternative Investment Fund Manager (AIFM) licence under Wft Article 2:65 and Directive 2011/61/EU | AFM |: | EUR 200 | ~6 mo |
| [Netherlands](https://protegra.io/licensing/licences/fund-manager/netherlands-ucits/) | Fund manager licenceUndertakings for Collective Investment in Transferable Securities (UCITS / ICBE) registration under Wft and Directive 2009/65/EC | AFM |: |: |: |
| [Poland](https://protegra.io/licensing/licences/fund-manager/poland-tfi/) | Investment Fund Company licence | KNF |: |: |: |
| [Poland](https://protegra.io/licensing/licences/fund-manager/poland-zasi/) | Alternative Investment Company Manager registration / licence | KNF |: |: |: |
| [Seychelles](https://protegra.io/licensing/licences/fund-manager/seychelles/) | Fund Administrator's LicenceFund Administrator's Licence (and Restricted Fund Administrator's Licence) under the Mutual Fund and Hedge Fund Act 2008 | FSA |: |: |: |
| [Spain](https://protegra.io/licensing/licences/fund-manager/spain-sgiic/) | Fund manager licence (SGIIC) | CNMV |: | EUR 10,000 |: |
| [Switzerland](https://protegra.io/licensing/licences/fund-manager/switzerland-fund-management/) | Fund management company licence | FINMA |: |: |: |
| [Switzerland](https://protegra.io/licensing/licences/fund-manager/switzerland-manager/) | Manager of collective assets licence | FINMA |: |: |: |
| [United Kingdom](https://protegra.io/licensing/licences/fund-manager/united-kingdom-aifm/) | Fund manager licenceAlternative Investment Fund Manager (AIFM) Authorisation / Registration | FCA |: |: |: |

Values come from each licence's page, where every figure has its source.

## Laws behind it

- [Alternative Investment Fund Managers Directive](https://protegra.io/licensing/laws/eu-aifmd-2011-61/): Directive 2011/61/EU
- [UCITS Directive](https://protegra.io/licensing/laws/eu-ucits-2009-65/): Directive 2009/65/EC
- [European Crowdfunding Service Providers Regulation](https://protegra.io/licensing/laws/eu-ecspr-2020-1503/): Regulation (EU) 2020/1503

## Sources

1. [cysec.gov.cy: AUTHORISED SUB THRESHOLD AIFMS](https://www.cysec.gov.cy/en-GB/entities/aifm/registered/AUTHORISED-SUB-THRESHOLD-AIFMS/): retrieved 2026-09-24
2. [cysec.gov.cy: collective investment](https://www.cysec.gov.cy/en-GB/legislation/collective-investment/): retrieved 2026-09-24
3. [EUR-Lex: CELEX 32011L0061](https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32011L0061): retrieved 2026-09-24
4. [cylaw.org: full](https://www.cylaw.org/nomoi/enop/non-ind/2017_1_87/full.html): retrieved 2026-09-24

Last verified 2026-09-24 · Author: Danil Marmysh · Reviewed by Anastasia Sidorenkova · © Protegra. Data: CC BY 4.0, cite "Protegra Licensing Atlas". Not legal advice.