The investment funds
are vehicles through which both local and foreign investors can conduct various investment strategies
in order to obtain a high return. Spain
offers a wide set of investment funds
which can be addressed to retail investors
or to professional investors
. Our team of lawyers in Spain
can offer assistance on the types of fund structures available in Spain
and, at the same time, our attorneys
can provide more details on the legislation regulating the variety of fund vehicles
Collective investment structures in Spain
Collective investment schemes (CIS) in Spain can be registered under several types of legal entities. Spanish CIS are regulated by the Collective Investment Schemes Act, which incorporated in its national requirements the provisions imposed by the European Union (EU), under the Directive 2011/61/EU.
A financial CIS in Spain is incorporated with the purpose of investing in financial assets and it can be set up as a securities company with variable capital (SICAV). Also, such structures can be registered as non-financial CIS.
can be registered as a closed-ended real estate investment company
or as a real estate investment fund
. Their main purpose is to invest and manage assets
deriving from the real estate market.
can also be registered as private equity entities
performing temporary investments
in the share capital of non-listed companies; our team of attorneys in Spain
can provide more details on the regulations referring to private equity companies
Open-ended funds in Spain
An open-ended fund in Spain
is a legal structure in which the investor is not imposed with any restrictions referring to the issuance of shares
. Alternative Investment Funds (AIFs) in Spain
, registered following the regulations imposed by the Collective Investment Schemes Act
, can be set up as closed-ended
or open-ended funds
The open-ended funds follow the regulations prescribed by the Law 35/2003, as well as the Royal Decree 83/2015.
Businessmen interested in receiving more details on the types of investment funds available in Spain
can address to our Spanish law firm
for legal assistance on this matter.