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Fund Set Up in Cyprus: A Practical Guide

Fund Set Up in Cyprus: A Practical Guide

Dates

  • October 2026
      to   (4 sessions)
    Delivered Online
    €250 - €450
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Highlights

  • Delivered Online

  • 10 days

  • All levels

The EIMF Live Online Learning Experience

Participants will receive access to the recorded sessions of the course.

EIMF subject-matter experts deliver engaging and interactive courses across a broad spectrum of areas, that can be enjoyed in the comfort of your own chosen environment. Read more

Course Overview

This Seminar aims to provide participants the knowledge and understanding to be able to set up a fund in Cyprus from A to Z.

The Cyprus Fund Industry and the basic legal characteristics of AIF funds are examined so that participants can comprehensively understand every step of the process.

All set up stages are thoroughly analysed, including the application for authorization and the drafting of legal documents.

Training Objectives

  • To gain a general understanding of funds and their legal form and possible structures

  • To be able to correctly assess client needs by suggesting the most suitable fund structure

  • To understand the process of preparing and submitting an Application including the drafting of documents

  • To get an insight of the post- authorisation, activation process

Training Outline

An Introduction to Cyprus Funds

  • An overview of the Funds Market today: A glance at Statistics

  • Description of the various Legal Forms and basic Characteristics

  • Analysis of the various types of AIF funds, different structures, and other classifications

  • Externally Managed Funds vs Self-managed Funds

  • The ‘Mini Manager’

  • The ‘Registered AIF’ (RAIF)

  • The main actors in the fund industry and a brief overview of their respective roles

Setting Up the Fund

The below will be examined:

  • Correctly assessing client needs and providing appropriate advice

  • Creating the most suitable fund structure & assigning roles

  • Set up the correct mechanics for the fund to be functional

  • Pre-defining investment decision process/ strategy/objectives/risks/liquidity mechanisms etc.

  • Investment Committees & their role

  • Appointing the Fund Manager, Investment Advisor, Administrator, Custodian

Promotion of the Application

  • The ‘Applicant’ and the ‘Application Promoter’

  • Description of Application Process: Map

  • Clearly defining roles and responsibilities in the Application Process

  • Setting of the correct timeframe: Time optimization, the fast track procedure, measures to be proactive and save time in the process

  • Letters of engagement, Applying for name, gathering documentation

  • Efficient Liaising with the Regulator and the other involved parties

  • Analysis of the Information to be filed with CYSEC together with the Application

Drafting of Documents & Filing the Application

  • Drafting the Legal documents. Going through the Instruments of Incorporation, Partnership Agreement, Prospectus and Common Fund Rules.

  • Analysing various significant clauses, their wording and their effect, identifying problems in their application etc.

  • The Application Form. How to complete.

  • Confirmations/Letters of Commitment by Fund Manager, Depositary etc.

  • The personal questionnaires for directors and shareholders

  • KYC and other supporting documents. What is accepted by the Regulator

  • Financial Information: Financial statements /Pro-forma Budget

  • Other documentation which may be required by CYSEC

  • The proper Certification of documents

  • Filing the Application and the supporting Documents

Post Authorization: Activating the Fund

  • Communication of Authorization by CYSEC

  • Description of the post- authorization Activation Process

  • Corporate Documents and the Companies Registrar

  • Service Level Agreements and filing with CYSEC

  • Opening of Bank Accounts and operational meetings

  • Minimum Initial Capital Deposit

  • Activation, Operations, Marketing and Distribution

Who Should Attend

The course is applicable to professionals employed within the Funds sector or those wishing to join the industry and who are particularly interested in the fund set-up process. These may include professionals from the fund sector such as fund managers and fund administrators or third-party professionals involved or seeking to get involved in setting up funds such as lawyers, accountants and corporate service providers.

Training Style

The presentation slides will be illustrated and explained to participants in detail. Questions by participants will be answered throughout. Real time examples and document samples will be provided where available. In certain occasions, participants will be more interactively involved through an exchange of views and personal professional experiences.

CPD Recognition

This programme may be approved for up to 10 CPD units in Financial Regulation. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.

In-house Training

For groups within the same organisation, this course may be customidsed to meet any specific needs and delivered in-house.

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Facilitators

  • Athos Myrianthous

    Athos Myrianthous

    Read moreShow less

    Athos is the Chief Compliance Officer (CCO) of ECM Fund Management Ltd, an Alternative Investment Fund Manager focusing on private equity, industry-agnostic strategies and part of the ECM Partners Group, which has a track record of nearly 1 billion invested capital in its various deals. Athos is a senior compliance and licencing professional with over 14 years of experience in alternative investment funds, investment fund managers and other regulated entities. Prior to his current role, he held senior compliance leadership and Board positions in several regulated entities in Cyprus. Earlier in his career, he served for almost a decade as Manager, Fund Services at BDO Ltd, part of the BDO International network. He is a member of the Cyprus Bar Association and a long-time member of the Cyprus Investment Fund Association where he sits on the Regulatory and Legal Technical Committee. He holds an MSc in Trade and Finance from Cass Business School, City University, an LLM in International Commercial Law from the University of Westminster and an LL B from Queen Mary’s University, London.

Frequently Asked Questions

  • When will I receive my invoice?

    The invoice is issued on the day the course starts.

  • What payment methods are accepted?

    Payments can be made by bank transfer, cheque, or credit card.

  • When will my certificate be issued?

    Certificates are issued within 7–10 days after the course has been completed, provided that the invoice has been paid.

  • How can I access my certificate?

    Once your certificate has been issued, you will receive an automated email from Cademy notifying you that it is available.

    Click the Get Your Certificate button in the email to download your certificate.

    You can also access it from your Cademy account:

    1. Log in to your Cademy account from https://cademy.io
    2. Click on My Account from the top-right corner.
    3. From the drop-down menu select My Courses and Bookings.
    4. Choose the relevant course.
    5. Under Participants, click the three dots located next to your name. 
    6. Select Get Certificate.
  • Where can I access the course material?

    To access the course materials, such as presentations and recordings:

    1. Log in to your Cademy account from https://cademy.io
    2. Click on My Account from the top-right corner.
    3. From the drop-down menu select My Courses and Bookings.
    4. Choose the relevant course.
    5. Under Extra Details, you will find all the available course materials.
  • What is the HRDA?

    The Human Resource Development Authority (HRDA) of Cyprus is a semi-government governmental organisation that supports the development of workforce skills through training and development initiatives. Eligible training programmes approved by the HRDA may qualify for a subsidy, reducing the participation cost for eligible organisations and individuals, subject to the HRDA's terms and conditions.

  • Who is eligible for the HRDA subsidy?

    The HRDA subsidy is available to:

    • Companies registered in Cyprus that are applying for their employees.
    • Unemployed individuals who meet the eligibility requirements (see the FAQ below for required documents).
    • Self-employed individuals registered as self-employed in their ERMIS profile.

    To receive the subsidy, eligible persons must attend at least 75% of the course. 

  • What is ERMIS?

    ERMIS is the online platform of the Human Resource Development Authority (HRDA) of Cyprus, used for managing training programme registrations, participant details, subsidy applications, and attendance records. All participants attending HRDA-approved courses must have an ERMIS profile and use the platform’s attendance register to check in and check out during each course session. https://ermis.anad.org.cy/

  • What is the process for attending an HRDA-approved course?

    To attend an HRDA-approved course, you must:

    1. Register for the course through the EIMF website.
    2. Create the necessary ERMIS profile(s).
    3. Register for the course through ERMIS.
    4. Complete any additional HRDA requirements if you are applying for the subsidy as an unemployed or self-employed individual.
    5. Log onto ERMIS and check in through the relevant attendance register when you join the course session and check out when you leave each course session.

    See the FAQs below for detailed instructions.

  • Is an ERMIS profile required?

    Yes. ALL participants attending HRDA-approved courses must have an ERMIS profile, whether applying for the subsidy or not.

    • Companies applying for the HRDA subsidy for their employees:
    1. The company must have an ERMIS profile as a Legal Entity.
    2. The company must have their Employer role approved on the ERMIS system.
    3. Each participating employee, as well as a company authorised person and the company’s director, must have an ERMIS profile as a Natural Person
    4. The employees' and representatives’ profiles must be linked to the company's ERMIS profile.
    • All Individuals: 
    1. Must have an ERMIS profile as a Natural Person.

    You can create or access your ERMIS profile here: https://ermis.anad.org.cy/

  • How do I register for an HRDA-approved course through ERMIS?

    After booking your course through the EIMF website, you must also register through ERMIS, provided that the required profile(s) have already been created.

    • If you are registering as an individual:

    You must register through your personal ERMIS profile.

    • If a company is applying for the HRDA subsidy for its employees:
    1. Registration must be completed through the company’s ERMIS profile.
    2. The company profile used for registration must match the payroll company where each participant is employed.

    For example: If your organisation includes multiple companies, make sure each participant is registered under the correct company profile.

    Around one week before the course starts (or immediately after booking if you register less than one week before the course), we will email you the HRDA course details and instructions on how to complete your ERMIS registration.

  • What documents do unemployed individuals need to apply for the HRDA subsidy?

    When registering for the course through ERMIS, you must upload both of the following documents obtained from the Public Employment Service:

    1. A referral for participation in HRDA Multicompany courses (Παραπεμπτικό για Πολυεπιχειρησιακά Προγράμματα της ΑνΑΔ).
    2. An ES19 form confirming that you were unemployed from at least the course start date.
  • What do self-employed individuals need to do to apply for the HRDA subsidy?

    You must update your ERMIS profile:

    1. Log in to your ERMIS profile and select the Self-employed role from the available roles.
    2. Complete and submit the request.
    3. Once your request has been approved, you can register for courses and apply for the HRDA subsidy as a self-employed individual.

    When submitting your request, you must upload one of the following:

    1. A confirmation letter from the Social Insurance Services confirming acceptance of your registration as a self-employed person.
    2. A Confirmation letter from the Social Insurance Services confirming your self-employed status.
    3. Proof of payment of Social Insurance contributions for the most recent quarter (available through SISnet). 
  • Is the check-in and check-out process in ERMIS mandatory?

    Yes. All participants must log onto the ERMIS system and check onto the attendance register when they join a course session and check out when they leave a course session, as HRDA records attendance.

    To receive the subsidy, eligible persons must attend at least 75% of the course. Check-ins and check-outs reflect actual attendance.