Creazione Veicoli d’Investimento
Creazione di uno Schema di Investimento Collettivo (CIS)
Puoi ricevere le istruzioni per creare uno Schema di Investimento Collettivo (CIS) personalizzato, utilizzando il simulatore che ti mettiamo a disposizione.
Set Up CIS
Inizia la simulazione.
START
IS THE TARGET INVESTOR A RETAIL INVESTOR?
Yes
No
DOES THE INVESTMENT STRATEGY RESPECT UCITS ELIGIBILITY RULES AND CONCENTRATION LIMITS?
Yes
A UCITS SCHEME IS THE SOLUTION
No
FUND MAY BE LAUNCHED AS A RETAIL AIF
DOES THE INVESTMENT STRATEGY RESPECT UCITS ELIGIBILITY RULES AND CONCENTRATION LIMITS?
Yes
UCITS SCHEME OR AIF OR AMC ARE BOTH VIABLE SOLUTIONS
No
AN AIF OR AN AMC ARE BOTH THE SOLUTIONS
DOES THE PROMOTER WANT CONTROL OVER THE GOVERNANCE OF THE FUND?
Yes
A NEW SCHEME IS REQUIRED: THE PROMOTER WILL RETAIN CONTROL BY ASSUMING THE ROLE OF THE FOUNDER SHAREHOLDER OR GENERAL PARTNER
No
THE LAUNCH OF A NEW SCHEME OR A SUB-FUND OF AN EXISTING SCHEME ARE BOTH VIABLE SOLUTIONS
DOES THE PROMOTER WANT TO MANAGE THE PORTFOLIO?
Yes
No
OUR PARTNER CAN ACT AS MANAGEMENT COMPANY AND INVESTMENT MANAGER
DOES THE PROMOTER OPERATE VIA AN ENTITY REGULATED TO PROVIDE ASSET MANAGEMENT?
Yes
A UCITS SCHEME IS THE SOLUTION
No
IS THE PROMOTER INTERESTED TO BECOME AN OFFICIAL OF THE MANAGEMENT COMPANY?
Yes
APPOINTED AS INVESTMENT COMMITTEE MEMBER OR PORTFOLIO MANAGER, SUBJECT TO AUTHORITIES' DUE DILIGENCE
No
WE FIND YOUR MANAGEMENT COMPANY AND INVESTMENT MANAGER
IS THE PROMOTER AUTHORIZED TO PROVIDE ADVICE IN ITS HOME COUNTRY?
Yes
PROMOTER IS APPOINTED AS AN INVESTMENT ADVISOR
No
CALL US AND WORK WITH RATARAN.COM
CAN THE PROMOTER ACT AS DISTRIBUTOR?
Yes
DISTRIBUTOR AGREEMENT
No
RATARAN ACTS AS DISTRIBUTOR
CONTINUE
In which jurisdiction would you like to launch the fund?
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Malta
Ireland
Luxembourg
Italy
CONTINUE
Results
Modify Jurisdiction
Your flow result
Jurisdiction
Legislation
Organizational tree
Founder Shareholder General Partner
The initial share capital of a third party managed collective investment scheme set up as an investment company is of EUR50,000. Within 30 days after the authorization by the Italian regulatory authority, the founding shareholders must set up the company and pay in the minimum share capital. Founder shareholders must meet specific requirements set by the Italian Regulator, namely good reputation, correctness of their business relations and sound financial situation.
The initial share capital of a collective investment scheme set up as an investment company must be subscribed for by at least two shareholders, who are usually the promoters of the scheme itself. These founder shares may be subscribed for by both natural and legal persons. The founder shareholders of Malta funds may retain certain voting rights in the scheme, including the right to nominate the Directors. They however do not carry a right to participate in the assets of the scheme upon a winding up, other than for any remaining surplus after payment of all amounts due to creditors and investors. The holders of the founder shares of Maltese licensed funds are subject to due diligence assessment by the MFSA.
The initial share capital of a collective investment scheme set up as an investment company is normally subscribed for by at least two founder shareholders, who are usually the promoters of the scheme itself. These founder shares may be subscribed for by both natural and legal persons. There is no minimum capital with which the scheme may be incorporated. Founder shareholders are not subject to a due diligence assessment by the Central Bank of Ireland.
It is common for Luxembourgish schemes to be set up in the form of a corporate partnership, between at least two partners – the General Partner and the Limited Partner/s. The General Partner is a legal entity, separate from the scheme, and is responsible for the management of the scheme, and is jointly or severally liable for all liabilities which cannot be met out of the assets of the scheme. The shares of the General Partner are normally held by the promoters, such that they can keep control of the collective investment scheme. On the other hand, the Limited Partners of the collective investment scheme are the investors.
The initial share capital of a third party managed collective investment scheme set up as an investment company is of EUR50,000. Within 30 days after the authorization by the Italian regulatory authority, the founding shareholders must set up the company and pay in the minimum share capital. Founder shareholders must meet specific requirements set by the Italian Regulator, namely good reputation, correctness of their business relations and sound financial situation.
Board of Directors
The Board is responsible for the general affairs of the scheme, including the appointment of the service providers. Albeit there is no law provision on this matter, a wider board is usually appreciated by the Italian regulator and it is expected that a Board is made up of at least three members, including independent members. Whereas there is also no requirement to have the member of the Board resident in Italy, the regulator expects the members to be available in Italy. The Board is expected to meet on a quarterly basis.
The Board is responsible for the general affairs of the scheme, including the appointment of the service providers. In order to adhere to the Maltese regulatory requirements, the Board should (i) be composed of not less than three members, (ii) one of the Directors has to be resident in Malta and (iii) one of the Directors has to be independent. The Board is to meet at least on a quarterly basis, and the majority of the meetings are to be held in Malta. Directors of regulated Maltese funds are subject to a due diligence assessment by the Malta Financial Services Authority.
The Board is responsible for the general affairs of the scheme, including the appointment of the service providers. In order to adhere to Irish regulatory requirements and for good corporate governance, the Board should be composed of at least three members. The Central Bank of Ireland requires two members of the Board to be resident in Ireland. These members normally take the role of the independent Directors. The promoter may then appoint other Board members of his choice. Board members of Irish funds are subject to the prior approval of Central Bank of Ireland.
The directors of an investment fund must be of sufficiently good repute and be sufficiently experienced, including in relation to the type of investment fund and its investment policy. To that end, the directors shall be understood as those persons who under the law and the articles of incorporation represent the investment fund or who effectively determine the conduct of the activity of the investment fund. Whilst there is no legal or regulatory requirement to have local directors in Luxembourg, it has become market practice to have at least one local director appointed.
The Board is responsible for the general affairs of the scheme, including the appointment of the service providers. Albeit there is no law provision on this matter, a wider board is usually appreciated by the Italian regulator and it is expected that a Board is made up of at least three members, including independent members. Whereas there is also no requirement to have the member of the Board resident in Italy, the regulator expects the members to be available in Italy. The Board is expected to meet on a quarterly basis.
Depositary
The duty of the depositary is to provide safekeeping, oversight, and cash monitoring. It is mandatory for a depositary to be established in the same jurisdiction of the fund
Management Company
The ManCo of the fund shall perform the day to day portfolio management and/or risk management, and may delegate other functions, such as fund administration, marketing and distribution
Administrator
In most cases the ManCo delegates the fund administration functions (i.e. NAV calculations, fund accounting services, transfer agent and registrar) to a third party fund administrator authorized to provide such services
Distributor
A distributor may be appointed by the management company to offer, recommend or sell units in the collective investment scheme. The distributor may be subject to authorisation or registration in its home jurisdiction or in the jurisdiction where the units of the collective investment scheme will be distributed.
A distributor may be appointed by the management company to offer, recommend or sell units in the collective investment scheme. The distributor may be subject to authorisation or registration in its home jurisdiction or in the jurisdiction where the units of the collective investment scheme will be distributed.
Investment Manager
The management company may delegate the day-to-day portfolio management function to an undertaking which is authorised for the purpose of asset management. Where the delegation is conferred on a third-country undertaking, there needs to be a co-operation agreement between the supervisory authority of the management company and the supervisory authority of the asset manager.
The management company may delegate the day-to-day portfolio management function to an undertaking which is authorised for the purpose of asset management. Where the delegation is conferred on a third-country undertaking, there needs to be a co-operation agreement between the supervisory authority of the management company and the supervisory authority of the asset manager.
Investment Advisor
The management company or the investment manager may appoint investment advisors, responsible for the provision of investment advice. The investment advisor does not have any discretion with respect to the investment and re-investment of the assets of the fund
The management company or the investment manager may appoint investment advisors, responsible for the provision of investment advice. The investment advisor does not have any discretion with respect to the investment and re-investment of the assets of the fund.
Portfolio Manager
The promoter may be involved in the day-to-day portfolio management function of the collective investment scheme in the role of portfolio manager with AQA Capital. The appointment of a portfolio manager is subject to the fitness, properness, and competence assessment of the MFSA. The promoter may also sit as Investment Committee member with AQA Capital. An Investment Committee member may need to pass the fitness, properness, and competence assessment of the MFSA.
The promoter may be involved in the day-to-day portfolio management function of the collective investment scheme in the role of portfolio manager with AQA Capital. The appointment of a portfolio manager is subject to the fitness, properness, and competence assessment of the MFSA. The promoter may also sit as Investment Committee member with AQA Capital. An Investment Committee member may need to pass the fitness, properness, and competence assessment of the MFSA.
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