Fund Distribution Alert 2022-03
EU: Directive 2019/1160 Transposition Update - Cyprus
EU: Directive 2019/1160 Transposition Update - Cyprus
The EU Directive 2019/1160 has entered into force in Cyprus with the Law 134(Ι)/2021 and 135(Ι)/2021 of 18 October without additional gold-plating. The transposition led to the amendment of the following Cypriot Laws: the Laws 78(Ι)/2012, 88(Ι)/2015, 52(Ι)/2016 and 134(Ι)/2019 on Open-Ended Collective Investment Schemes and the Laws 56(Ι) /2013, 8(Ι)/2015, 97(Ι)/2015 and 133(Ι)/2019 regulating the Alternative Investment Fund Managers.
Following this, a physical presence for the fulfilment of facilities services will no longer be required for UCITS in Cyprus. The language for the fulfilment of such facilities services is to be in an official language of the Republic of Cyprus or in a language approved by the CySEC.
The Law 134(Ι)/2021 can be accessed here and the Law 135(Ι)/2021 can be accessed here. Both are available in Greek only.
Please feel free to contact us should you require any additional information.
Contacts
Said Fihri
Partner
+352 22 51 51 7892
said.fihri@kpmg.lu
Stephanie Zedda
Director
+352 22 51 51 7271
stephanie.zedda@kpmg.lu
