Types of Companies
Variable capital investment company
This company is a limited liability company by shares. The main characteristic of this type is that, according to its memorandum of association and the rules governing its operation, its shares do not have a nominal value but rather a variable value. The aforementioned company can be incorporated after it receives a relevant license from the Cyprus Securities and Exchange Commission (CySec) to operate as Collective Investment Funds (CIF).
A variable capital investment company (VCIC) can take the form of either a private or a public company, depending on the type of the collective investment fund (CIF) that such variable investment company will take (UCITS, AIF, AIFLNP, RAIF). The number of members of a private company can range from one (1) to fifty (50) members while the number of members of a public company must be at least one (1).
The initial minimum share capital will depend on the type of the VCIC, as follows:
| Type of Variable Capital Investment Company (VCIC) | Minimum initial capital |
|
Undertaking for Collective Investment in Transferable Securities (UCITS) |
(a) Internally managed VCIC - €300.000 for each investment segment. (b) Externally managed VCIC – €200.000 for each investment segment. |
|
Alternative Investment Fund ("AIF") |
Internally managed (VCIC) - €125.000 for each investment segment. |
|
Alternative Investment Fund with Limited Number of Persons ("AIFLNP") |
Internally managed VCIC - €50.000 for each investment segment |
|
Registered Alternative Investment Funds (RAIF) |
No minimum initial capital is required. |
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