Luxembourg Investment Vehicles
■Legal and regulatory requirements ■ Shareholding ■Reporting requirements ■ Approval and supervision
■ Taxation
Supervised Investment Vehicles
SCS (AIF)
SCSP (AIF)
Law 10 August 1915, as amended ("Company Law").
Law 10 August 1915, as amended ("Company Law").
RAIF only with authorised AIFM
Applicable legislation
Law of 23 July 2016, as amended ("RAIF law").
Eligible assets
For RAIFS other than those referred to in Article 48 (1) of the
RAIF Law, the type of investments is not restricted although it
has to invest in the aim of spreading the investment risks.
For RAIF - Risk Capital» (referred to in Article 48 (1) of the
RAIF Law), investments are restricted to direct and/or indirect
investment in securities that represent risk capital. Risk capital
mainly consists of high-risk investments made in view of their
launch, development or listing on a stock exchange.
CSSF Circular 06/241 provides guidance in defining the notion of
risk capital.
The réviseur d'Entreprises agréé is required to issue a specific
report for each financial year that certify that the investments
meet the criteria of risk capital.
Unrestricted.
Risk diversification requirements
No risk diversification limits defined;
RAIF should invest in accordance with
the risk-spreading principle.
No risk diversification if it invests solely in
Risk Capital.
Unrestricted.
No risk diversification requirements.
No risk diversification requirements.
Luxembourg Investment Vehicles
KPMG
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