Elias Neocleous & Co LLC has a specialist funds advisory team forming part of our Financial Services Support and Advice practice area. We recently assisted a major regional financial institution with the establishment and licensing of the first active domestic Undertaking for Collective Investment in Transferable Securities fund in Cyprus.
The fund operates as a variable capital investment company pursuant to the Open-Ended Undertakings for Collective Investment Law 78 (I) of 2012, as amended.
We advised on all legal and regulatory aspects of establishing the fund, including the drafting of constitutional documents and the corporate governance of the VCIC, and also assisted with the discussions with the Cyprus Securities and Exchange Commission in connection with the application for and the granting of the license of the fund.
