Cyprus Management Company

The Management Company is a limited company by shares, which has its registered office and central administration within the territory of the Republic of Cyprus and its main objective is the management of one or more UCITS. Prior authorisation by CySEC is required in order to start a business. Such authorisation, which is granted as an operation license, is valid in all Member States of the European Union.
The Management Company may start its business as soon as the granting of the operation license is notified to it by CySEC.
The Management Company may start its business as soon as the granting of the operation license is notified to it by CySEC.
Management Company Activities
Free provision of services in another Member State by a Management Company authorized in the Republic (Passporting)A Management Company, which has been authorized in the Republic of Cyprus and wishes to pursue, for the first time, activities for which it has been authorized, within the territory of another member state, under the freedom to provide services shall notify CySEC.
Freedom of establishment and of provision of services in the Republic by a Management Company authorized in another Member StateA Management Company authorized in another Member State, may pursue within the territory of the Republic the activity for which it has been authorized, either by the establishment of a branch or under the freedom to provide services.
Shares of the Management CompanyThe shares of the Management Company shall be registered and cannot be admitted to trading or traded on a regulated or other stock exchange market.
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Share CapitalThe initial capital of the Management Company must be at least €125.000, which must be fully paid up, in cash. If the Management Company provides any additional services, then its initial capital must also correspond to the limits set out by the Law for the provision of such services. The own funds of the Management Company must at no time be less that the amount of its initial capital.
Establishment of a UCITS in a Member State other than the Management Company's home Member StateA Management Company authorized in the Republic of Cyprus may establish a UCITS which shall be authorized in another member state, and manage such UCITS, provided that the company complies with the provisions of passporting.
Delegation ArrangementsThe Management Company is authorised to delegate any of its functions subject to certain conditions and eligibility requirements as prescribed in the UCI Law.
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Services
Setting Up and LicensingPreparation and submission of an application package to CySEC to obtain a license, including advice on the best way to set up the company as regards staffing, organisational structure, costs, etc.
Legal ServicesPreparation and reviewing of any requested documentation and/or agreements and/or contracts for the application or during the activation of the company.
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Administration ServicesProvision of administrative services including directors, secretary and registered office address.
Recommendation and appointment of service providers.
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