Judiciousness. Attention to detail. Passion. Adaptability. No shortcuts.
AIFs established in Ireland are authorised by the Central Bank of Ireland (CBI) in one of two categories:
RIAIFs are subject to less investment and eligible asset restrictions than UCITS, but are subject to a regime more restrictive than the QIAIF Regime. RIAIFs do not have the automatic right to market across the EU under the AIFMD marketing passport: access to individual markets may be granted on a case-by-case basis. RIAIFs must appoint a fully authorised AIFM. Non-EU managers or registered AIFMs are prevented from managing RIAIFs.
QIAIFs are subject to very few investment restrictions and no borrowing or leverage limits apply. QIAIFs can avail of the CBI’s 24-hour approval process subject to certain conditions and confirmations. QIAIFs shall not accept subscriptions of less than EUR 100,000 (EUR 500,000 for QIAIFs seeking to disapply certain rules), unless a specific regulatory exemption applies. QIAIFs can be marketed freely to Qualifying Investors across the EU and the EEA by an authorised AIFM. A Qualifying Investor is defined by the CBI as an investor who:
QIAIFs can be established in one of five different legal structures – as an Irish Collective Asset-management Vehicle (ICAV), as a Variable Capital Investment Company (VCC), as a Unit Trust, as a Common Contractual Fund (CCF) or as an Investment Limited Partnership (ILP). QIAIFs that belong to one of the following Fund Types, as defined by the CBI, are subject to additional requirements and/or limitations:
We can help you to meet all regulatory requirements with efficient, flexible and cost-effective solutions.