Luxembourg Regulated Investment Vehicles - Alfi

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7SIF SICAR Securitization vehicle – regulatedHead office of SICAV/ SICAF or ofthe management company of the FCPmust be in Luxembourg.No nationality or residencyrequirements for Directors of funds orChapter 14 management company.General requirement for one ofthe two conducting officiers of theChapter 13 management company tobe located in Luxembourg.DepositaryCentral administrationRéviseur d’entreprisesHead office of the SICAR must be inLuxembourg.No nationality or residencyrequirements for Directors.DepositaryCentral administrationRéviseur d’entreprisesHead office of securitization companyor of the management company ofthe securitization fund must be inLuxembourg.No nationality or residencyrequirements for Directorsof securitization company ormanagement company.DepositaryAdministrative agentRéviseur d’entreprises€ 1,250,000 to be reached within12 months of authorization.FCPYes (Chapter 13 or Chapter 14 of theFund law)SICAV/SICAFNoTotal of subscribed share capitaland share premium of e 1,000,000to be reached within 12 months ofauthorization.NoSecuritization fundNo minimum requirement.Securitization companySA/SCA: € 31.000Sàrl: € 12.500SCoSA: no minimum requirement.Securitization fundYes (Commercial Law)Securitization companyNo€ 125,000For Chapter 13 managementcompanies, additional capital basedon the assets under management isrequired if in excess of€ 250,000,000.— Will depend on the legal form chosen.The minimum capital will range from€ 12,500 for a Sàrl to € 31,000 for aSA.The risk management function is notregulated.The risk management function is notregulated.The risk management function is notregulated.
Shareholding8Part I Fund (UCITS)Part II Fund (UCI)Eligible investors All types All typesListing Possible PossibleCapital callsFCPCapital calls can be made either by wayof capital commitments or through theissue of partly paid units. The law doesnot prescribe the minimum percentage ofpayment of the unit.FCPCapital calls can be made either by wayof capital commitments or through theissue of partly paid units. The law doesnot prescribe the minimum percentage ofpayment of the unit.SICAVCapital calls may only be made by way ofcapital commitments as partly paid sharesare not allowed for a SICAV.SICAVCapital calls may only be made by way ofcapital commitments as partly paid sharesare not allowed for a SICAV.SICAFIf the SICAF is set up as a SA or SCA,capital calls can be organized throughcapital commitment or by way of the issueof partly paid shares. At least 25% of eachshare must be paid-up.SICAFFor a Sàrl capital calls may only be madeby way of capital commitments as partlypaid shares are not allowed. If the SICAFis set up as a SA, SCA or SCS, capitalcalls can be organized through capitalcommitment or by way of the issue ofpartly paid shares.At least 25% of each share must be paid-up.
Page 1 and 2: Luxembourg RegulatedInvestment Vehi
Page 3 and 4: Executive summary2ALFI is pleased t
Page 5 and 6: Legal and regulatory requirements4P
Page 7: Legal and regulatory requirements6S
Page 11 and 12: Shareholding10Issue of shares / uni
Page 13 and 14: Reporting requirements12Prospectus
Page 15 and 16: Reporting requirements14Valuation p
Page 17 and 18: Reporting requirements16Other repor
Page 19 and 20: Approval and supervision18Part I Fu
Page 21 and 22: Taxation20Part I Fund (UCITS)Part I
Page 23 and 24: Glossary of terms22ArticlesArticles
Page 25 and 26: 24The Association of theLuxembourg
Page 27: alfi | association of the B.P. 206

Luxembourg Regulated Investment Vehicles - Alfi

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