Management company authorised under Chapter 15 of the Law of 17 December 2010 (Luxembourg)
The Management company authorised under Chapter 15 of the Law of 17 December 2010 is issued by Commission de Surveillance du Secteur Financier (CSSF) under Law of 17 December 2010 relating to undertakings for collective investment. It can be passported to the other EU/EEA states by notification. The official register lists 157 current holders. The legal decision period is 6 months from receipt of a complete application. The application fee is EUR 18,000.
At a glance
| Official name | Management company authorised under Chapter 15 of the Law of 17 December 20101 |
|---|---|
| Also known as | Chapter 15 ManCo · Chapter 15 management company · Luxembourg UCITS ManCo authorisation · Luxembourg UCITS management company licence |
| Issued by | Commission de Surveillance du Secteur Financier |
| Jurisdiction | Luxembourg |
| Licence family | Fund manager |
| Legal basis | Law of 17 December 2010 relating to undertakings for collective investment1 Law of 12 July 2013 on alternative investment fund managers2 Directive 2011/61/EU on Alternative Investment Fund Managers (AIFMD)3 |
| Passporting | EU/EEA passport available |
| Application fee | EUR 18,0004 |
| Annual fee | EUR 42,0004 |
| Statutory decision time | 6 months from receipt of a complete application1 |
| Public register | official register5 |
| Current holders | 1575 |
What it lets you do
| Managing UCITS funds | Managing undertakings for collective investment in transferable securities, the EU's retail fund format. |
|---|
Where it is valid
Cost
How long it takes
Statutory: 6 months from receipt of a complete application1. 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. Acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or causing an entity to become a subsidiary, requires prior written notification to the CSSF. The CSSF conducts a prudential assessment of acquirer suitability, reputation, financial soundness, and AML risk within 60 working days (interruptible once by up to 20 working days, or 30 working days for non-EU acquirers) under Articles 18 and 18-1 of the Law of 5 April 1993, Article 12 of the Law of 10 November 2009, Article 83 of Regulation (EU) 2023/1114 (MiCA), and Circular CSSF 17/669 adopting the Joint ESA Guidelines.6
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
- cssf.lu: law of 17 december 2010 · retrieved 2026-09-24
- cssf.lu: law of 12 july 2013 2 · retrieved 2026-09-24
- EUR-Lex: CELEX 32011L0061 · retrieved 2026-09-24
- cssf.lu: GDR 231222 CSSF fees (PDF) · retrieved 2026-09-24
- searchentities.apps.cssf.lu: entite · retrieved 2026-09-24
- cssf.lu: circular cssf 17 669 · retrieved 2026-09-24
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