31

Oct

-

Dates Pending

20

Nov

2025

Cyprus as a Fund Hub - Legal Practice in AIF and RAIF Structures

FROM

€

130

220

10 Verified CPD Points

10

HOURS

English

Theo Antoniou

description

COURSE DESCRIPTION

This course equips lawyers and legal consultants with advanced knowledge and practical insights into structuring, launching, and advising on AIFs and RAIFs in Cyprus. It covers legal frameworks, CySEC expectations, fund structuring options, operational models, investor categories, tax treatment, and service provider roles, with a strong focus on regulatory practice and real-world case studies.

Cyprus has rapidly evolved into a fund-structuring jurisdiction within the EU, supported by its modern AIF and RAIF legislation, flexible legal structures, and competitive tax regime. The CySEC-supervised AIF regime and the RAIF fast-track structure offer attractive fund platforms for domestic and international managers targeting professional and well-informed investors. However, many legal professionals face challenges navigating practical regulatory expectations, coordinating with fund managers, and advising on governance, setup, investor eligibility, depositary exemptions, and CySEC interactions, none of which are straightforwardly available in black-letter law.

This course is based on primary legal texts, CySEC circulars and directives, fund industry data, and insights from recent fund launches. It delivers actionable know-how to lawyers, enabling them to provide higher-value advisory services to clients launching or managing AIFs and RAIFs in Cyprus.

Why This Course Matters for Employers:

• Empowers legal professionals to lead fund setup projects, draft documents, and manage CySEC submissions confidently

• Supports law firms and in-house legal teams to advise on governance, licensing, AML, and fund lifecycles

• Addresses gaps between legislation and regulatory practice

• Enables smoother fund structuring and faster time-to-market for clients Β.4

.

course content

Dates and times

Course content

Module 1: Legal Framework and Fund Structure Selection

Overview of Cyprus AIF Law and AIFMD as transposed in Cyprus
Comparison of
AIFUNPs, AIFLNPs, and RAIFs: investor eligibility, regulatory intensity, and use cases
Legal vehicle options
Tax, liability, and governance implications of each vehicle
Umbrella funds, compartments, and separate patrimony rules
Case Study: Structure a fund based on a client's proposed strategy and investor pool

‍

Module 2: Investor Categorisation and Regulatory Boundaries

Legal definitions and practical criteria for professional and well-informed investors
Role of MiFID II in investor classification and documentation
Use of suitability declarations, €125,000 thresholds, and independent assessments
Regulatory boundaries on retail access and enforcement
Drafting risk warnings and eligibility disclosures in offering documents
Case Study: Risk analysis of onboarding a borderline well-informed investor

‍

Module 3: Setup Procedures, CySEC Interaction, and Exemptions

AIF authorization: documentation checklist, internal control frameworks, director suitability, and fit and-proper tests
RAIF registration: manager qualifications, fund structuring via LP or VCIC, CySEC notifications, and AIFM roles
Offering: Memorandum legal content standards and constitutional document requirements
Depositary obligations, custodial record keeping, and CySEC exemptions (e.g. for <€5m AuM or 90% illiquid asset funds)
Timelines, legal drafting pitfalls, and CySEC Q&A patterns
Workshop: Review and comment on a mock CySEC rejection letter

‍

Module 4: Governance and the Fund Ecosystem

Composition and function of the fund’s board of directors
Distinctions between self-managed and externally managed AIFs
Contracts and duties of administrators, depositaries, auditors, and legal counsel
Coordination between AIFM, depositary, and administrator – flow of reporting and oversight
AML and internal audit policies; role of the compliance officer
Q&A: Practical experience managing depositary expectations and investor queries

‍

Module 5: Ongoing Obligations,Tax and Risk Mitigation

Cyprus fund taxation: exemptions for capital gains and dividends, RAIF tax structuring via LPs, investor level taxation, and treaty use
Fund-level tax planning, substance considerations, and reporting independence per sub-fund
AIFMD Annexe IV reporting and risk metrics
Annual audits, investor NAV disclosure, and CySEC statistical reports
Anti-money laundering and sanctions screening responsibilities
Group Activity: Build a legal compliance and reporting calendar for a sample RAIF

suitable for

COURSE PREVIEW

HAVE A LOOK
INSIDE THE COURSE

details

course details

Methodology

Live sessions - online via Zoom

Interactive lecture with PowerPoint presentation

Case study and analysis and group discussion

Practical exercises to apply legal concepts in real-world scenarios

Q&A sessions for in-depth understanding

Funding

This seminar is funded by the HRDA.

Our training center offers special prices for individuals who are not eligible for funding - the discount is provided for in the link below. To pay in instalments please contact us at 24655510

Unemployed participants are eligible for HRDA funding provided they meet certain requirements. For more information, please contact us at 24655510

‍

Admission Requirements

No previous experience or qualifications are required in order to participate in this course.

Who is this aimed at

For employees of enterprises/organisations: This course is designed for employees who carry out legal, regulatory, or compliance-related duties within law firms, fund administrators, investment managers, or other financial service providers involved in Alternative Investment Funds (AIFs) and Registered Alternative Investment Funds (RAIFs).

Indicative job roles/responsibilities/experience include:

Legal professionals involved in the setup, structuring, or registration of AIFs and RAIFs
Compliance officers responsible for CySEC filings, risk management, and internal policies
In-house legal advisors supporting fund operations and governance
Legal assistants and paralegals involved in the preparation of offering documents or investor due diligence
Professionals who liaise with CySEC or external fund service providers during licensing or regulatory processes

‍

Certificate Awarded

A Training Certificate will be awarded to those participants who will successfully complete the training. The Training Certificate, at the bottom, will state: "The program was approved by the Human Resources Development Authority".The certificate will indicate the total CPD points awarded.

Coming Soon

More details about this course will be uploaded soon.

INSTRUCTOR

MEET YOUR INSTRUCTOR

Theo Antoniou

Theo Antoniou is the founding partner of Spencer West in Cyprus and a solicitor with deep expertise in corporate structuring private wealth financial services regulation investment funds fintech virtual assets and MiCAR compliance.

He advises international clients on the establishment of corporate entities trusts investment vehicles and private wealth structures with a strong focus on cross-border transactions regulatory licensing and tax efficiency.

His work includes advising on the licensing of Electronic Money Institutions Payment Institutions Crypto Asset Service Providers Cyprus Investment Firms and Alternative Investment Funds as well as the legal and regulatory frameworks that apply to each. Theo also supports clients with mergers and acquisitions joint ventures and group reorganisations offering commercially driven advice that balances regulatory compliance with practical outcomes.

He is regularly engaged by high net worth individuals family offices and multinational groups to develop structures that support succession planning investment strategy and risk management. Recognised for his forward-thinking approach Theo has been named among the top 30 advisors in Cyprus by Citywealth and is consistently ranked for his thought leadership in fintech and financial services law.

He is dual qualified in Cyprus and England and Wales having studied law at the University of Essex and completed the Legal Practice Course at the University of Law in London.

Prior to establishing Spencer West Cyprus he worked in leading local firms and served as director of international business development in London gaining broad experience across markets and legal systems. Theo combines legal precision with commercial understanding and is known for his proactive and solution-focused client service.

‍

MORE ABOUT INSTRUCTOR

COLLABORATORS

ADDITIONAL INSTRUCTORs

No items found.

frequently asked
questions

QUESTION 01

Do I need to be registered on the ERMIS Portal?

Yes, if you are registering for a course that is HRDA accredited, all participants (either receiving funding or not) will have to access and register as natural persons on the ERMIS Portal. If you are receiving funding and you are being registered for continuous professional/vocational training by your employer, your employer should also be registered with the ERMIS platform as a legal person. Contact us if you have any difficulty registering as a natural person or a legal person.

QUESTION 02

Will I receive a certificate at the end of the training?

Yes, you will receive a Certificate of Attendance from ELTRC or the relevant awarding body.

QUESTION 03

Do you have terms and conditions for seminar attendance?

Yes. You may find our terms and conditions here.

QUESTION 04

Will I receive the notes for the lesson and have access to recordings?

Yes, you will be given the course materials through an online platform and you will be allowed to download and keep the course materials and specimens for certain courses. Recordings will also be available in the drive for three months.