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Set Up UCI in Luxembourg

Updated on Tuesday 11th October 2016

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Set-up-UCI-in-LuxembourgUndertakings for collective investment (UCI) are among the most common types of investment funds that can be set up in Luxembourg. These types of funds are governed by the law with the same name which was enabled in 2010. The UCI is defined as an investment vehicle which raises money from a large number of investors and invests it with the purpose of generating income for those investors. The UCI must have a clear investment strategy in order to be approved by the Luxembourg Financial Regulator.

Our Luxembourg company formation consultants can offer more information on the legislation for setting up UCIs.

How to register a UCI in Luxembourg

Undertakings for collective investment funds may take several forms in Luxembourg. These are:

  • -          open-ended investment companies with a variable capital;
  • -          closed-ended investment companies with fixed capital;
  • -          common funds.

While the investment companies are legal entities and can be set up as limited liability companies or partnerships, the common fund does not have its own legal personality which is why it must be managed by a management company. Luxembourg UCIs must be managed by alternative investment fund managers (AIFMs) which are regulated by the EU directive with the same name. The minimum amount to register a UCI as an investment company is 300, 000 euros and must increase to 1,250,000 euros within 6 months, while for the common fund the minimum amount is 300,000 euros.

Our local agents can assist foreign investors with the company registration procedure of the UCI in Luxembourg.

Authorization of UCI funds in Luxembourg

One of the main advantages of setting up a UCI in Luxembourg is that it has no restrictions on the instruments they can invest. Also, UCIs in Luxembourg can offer their services outside the country if established as alternative investment funds (AIFs).

All UCIs must receive authorization from the Luxembourg Financial Regulator based on the following documents:

  • -          the internal regulations of the fund;
  • -          the prospectus;
  • -          the contracts with the service providers;
  • -          details on the managers of the fund;
  • -          details on the depositary and auditors;
  • -          details on promoter of the fund.

For assistance in setting up UCI funds in the Grand Duchy, please contact our company incorporation consultants in Luxembourg.

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