Reserved Alternative
Investment Fund (RAIF)
The Reserved Alternative Investment Fund (RAIF) is an investment fund that can invest in all types of assets. It qualifies as alternative investment fund (AIF) and is not itself subject to CSSF product approval. RAIFs must appoint an authorized external Alternative Investment Fund Manager (AIFM). If the AIFM is domiciled in the EU, RAIFs can market their shares, units or partnership interests via a specific passport to well informed investors across the EU.
Minimum substance requirement
to operate in Luxembourg:
- Registered office located in Luxemburg.
- Bank Account based in Luxemburg.
- Financial Statements under Luxemburg accounting rules.
- At least one board member should posses expertise in Luxemburg’s fund regulations and residency in Luxemburg (AML Laws).
- Have the mayority of GP board members/directors be Luxemburg residents.
- Hold board meetings of GP/Fund in Luxemburg.
- The net assets of a RAIF may not be less than EUR 1.250.000.
- A minimum of 5% of the capital must be paid upon subscription.
