{"id":18410,"date":"2024-12-13T22:11:47","date_gmt":"2024-12-13T21:11:47","guid":{"rendered":"https:\/\/genprox.com\/services\/aif-structuring-and-registration\/"},"modified":"2025-08-27T21:40:00","modified_gmt":"2025-08-27T19:40:00","slug":"aif-structuring-and-registration","status":"publish","type":"page","link":"https:\/\/genprox.com\/en\/services\/aif-structuring-and-registration\/","title":{"rendered":"AIF structuring and registration"},"content":{"rendered":"\t\t
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AIF structuring and registration<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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If you are wondering how to register an AIF, you should know that since the introduction of the AIFMD directive, we have been actively shaping standards for the VC market together with leading law firms. \nUnder the applicable regulations, a VC\/PE fund raising capital from multiple investors for further investment in line with its adopted investment policy is subject at minimum to the requirement of registration as an AIF manager (ZASI) and periodic reporting to the regulator. Therefore, registering an AIF is the simplest way to meet the requirements set out by the Investment Funds Act. <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Definition of an AIF <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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According to the definition set out in Article 8a of the Act on Investment Funds and the Management of Alternative Investment Funds, an AIF is an alternative investment fund other than a specialised open-ended investment fund or a closed-ended investment fund.
Pursuant to Article 8a(2), an alternative investment fund may operate in the form of: <\/p>

  • a limited liability company, <\/span><\/li>
  • a joint-stock company <\/span>or a European company<\/span>,<\/li>
  • a limited partnership or a limited joint-stock partnership.<\/li><\/ul>

    The sole purpose of an AIF (Alternative Investment Fund) is to raise assets from multiple investors in order to invest them in the interest of those investors, in accordance with a defined investment policy.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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    Definition of an AIFM (Alternative Investment Fund Manager)<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    According to the definition set out in Article 8b of the Act on Investment Funds and the Management of Alternative Investment Funds, an AIFM manages an alternative investment fund, including at least the fund\u2019s investment portfolio and its risk. <\/p>

    An AIFM may only be:<\/p>

    • a capital company being an alternative investment fund operating as an internally managed AIFM<\/li>
    • a capital company acting as the general partner of an alternative investment fund, operating as an externally managed AIFM<\/li><\/ul>

      Pursuant to Article 70e of the Investment Funds Act, the sole business activity of an AIFM may be the management of an AIF, including the marketing of that fund. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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      Obligation to register an AIFM in the regulatory register <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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      The activity of an AIFM does not require obtaining a license from the regulator<\/strong> and may be carried out on the basis of registration<\/strong> in the register of AIFMs<\/strong>, provided that the total value of the assets included in the investment portfolios of alternative investment funds that the AIFM intends to manage or is managing does not exceed the equivalent in PLN of EUR 100 million,<\/strong> or, in the case where the AIFM manages only funds that do not use leverage and where participation rights can be redeemed no earlier than 5 years after acquisition, the equivalent of EUR 500 million<\/strong>. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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      AIF Registration \u2013 Steps<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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      Externally managed AIF<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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