The Alternative Investment Fund (“AIF”) sector in Cyprus has continued its recent growth with the latest figures (for the quarter ended 30 June 2019), released by the Cyprus Securities & Exchange Commission, showing total assets under management reaching EUR 6.8 billion (displaying a 2% increase from the previous quarter). The majority of these (around 70%) are invested outside Cyprus with the main investment sectors being private equity and real estate.
In this article, we discuss how a Cyprus AIF be used by family offices and by multi-family offices.
As wealthy families grow, both in terms of size of wealth and in the number of family members, the need for the for the professional management of their wealth is becoming more and more a prerequisite. This is typically achieved either by the establishment of a family office or by engaging a 3rd party multi-family office.
Thereafter the family office will typically assist wealthy families in: creating the optimal legal/tax structures, reduce dependence on the head of the family, plan for the future, and assist with the management of the family’s investments.
The use of a Cyprus AIF in a family office structure can prove a very attractive solution as the AIF can provide some very important benefits, not available in other structures. For example:
We at Savva & Associates are among the few providers in Cyprus experienced in the establishment and administration of alternative investment funds and the most cost efficient in delivering high level alternative investment fund services in Cyprus. Our dedicated Investment Funds Division has extensive knowledge of financial services, coupled with local legal and tax expertise, ensuring efficiency in establishment, licensing and ongoing management of AIFs.
For further information on establishing a fund in Cyprus, please contact us at email@example.com