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Europe
The Recast ELTIF: Opening Of Private Market Investments For Retail Investors In Europe
Conor Durkin
Pinsent Masons, Ireland
The European Long Term Investment Fund (ELTIF) is a specialised investment fund that provides investors with access to long-term investments such as private equity, infrastructure or real assets. An ELTIF is an alternative investment fund that is subject to the EU's Alternative Investments Fund Managers Directive (AIFMD). ELTIFs have the benefit of an EU marketing passport and they are unique as they are the only type of fund that may be marketed to both retail and professional investors.
An amending regulation to the European Long-Term Investment Funds Regulation (Revised ELTIF Regulation) applies from 10 January 2024. The aim of the Revised ELTIF Regulation is to encourage long-term investments in the real economy, which includes listed and unlisted private companies, infrastructure projects, and real estate that may require long-term capital investment. ELTIFs have the potential to address financing required for environmentally sustainable investments. The Revised ELTIF Regulation provides retail investors in the EU an opportunity to invest in private market investments and infrastructure funds, which to date was not available to the retail market.
ELTIFs In Ireland
The Central Bank of Ireland (Central Bank) has introduced a new chapter in its AIF Rulebook. The ELTIF chapter sets out the domestic supervisory and reporting requirements application to Irish-domiciled ELTIFs. From 11 March 2024, the Central Bank is open to applications for authorisation of closed-ended …
The Rise Of NAV Lending In Asia
The Rise Of NAV Lending In Asia
In recent years, the Asian private equity landscape has experienced significant growth and evolution…
Singapore As An Asian Fund Hub: The Growing Trend Of ‘Onshoring’
Traditionally, private funds have been established in ‘offshore’, tax neutral jurisdictions such as…
Family Offices
The Art Of The Family Office: Effective Oversight
The Art Of The Family Office: Effective Oversight
Family offices have proliferated in the 21st century. They have existed in some form or other for hundreds of years, but it is only during our lifetime that they have become an indispensable appurtenance of serious wealth. They have sprung up all over the world, sometimes small and low-key, sometimes large and public facing. They have been given significant mandates from the world’s wealthiest individuals who, with an eye on future and current generations, give the office a simple instruction: “Feed my sheep”.
Structuring And Jurisdictional Selection For Family Offices
The selection of jurisdiction is a critical decision for family offices serving globalised families,…
Citizenship & Residency
Citizenship and Residency
In the dynamic sphere of offshore finance, citizenship and residency programs have emerged as compelling strategies for individuals seeking greater global mobility, tax advantages, and enhanced personal security. These programs, offered by countries such as Greece, Dominica, Cayman Islands and St. Kitts and Nevis, provide affluent investors and their families with the opportunity to obtain second citizenship or residency through significant economic contributions.
This feature examines the benefits and intricacies of these programs, including the legal frameworks, financial commitments, and strategic advantages they offer. By exploring the burgeoning market for citizenship and residency by investment, we reveal how these initiatives facilitate greater global flexibility and a pathway to a secure, diversified lifestyle.
Investment Funds
Investment Funds
In the realm of offshore finance, investment funds represent a cornerstone for global investors seek…
Around The Jurisdictions
Trusts and Foundations
Trusts and Foundations
In the intricate world of offshore finance, trusts and foundations stand out as pivotal instruments…
Regulation And Policy
Republic Of Ireland: Examining The Individual Accountability Framework
Recognised as one of the most significant legislative reforms to affect the Irish financial sector i…
Regulation And Policy
A Decade of Regulatory Change For Caribbean IFCs
As waves of international initiatives have transformed the regulatory landscape for the major Caribb…
Transparency vs Privacy
Transparency vs Privacy
Delve into the intricate balance between transparency and privacy in the evolving landscape of international finance with our feature. We explore the pitfalls of imposing intrusive surveillance on cryptocurrencies, the shortcomings of anti-money laundering laws, and the UK's experience with beneficial ownership registers.
Uncover the shifting focus of global initiatives like FATF and the nuanced implications of Public Registers of Beneficial Ownership, and stay informed on key legislative reforms shaping the future of economic transparency.
Around The Jurisdictions
Captive Insurance
Captive Insurance
As markets evolve and regulations shift, companies seek robust strategies to mitigate risks effectively. Against this backdrop, our feature uncovers the dynamic landscape of captive insurance, exploring its trajectory in relation to key jurisdictions and regulatory frameworks. We unlock its transformative potential for businesses worldwide, looking specifically at Guernsey, Bermuda, the Cayman Islands and Hong Kong.
UK Tax For Non-Doms
Focus on VASPs
Virtual Assets
In recent years, the global financial landscape has witnessed a paradigm shift with the advent of virtual assets and the emergence of virtual asset service providers (VASPs). These digital currencies and the platforms facilitating their exchange have ushered in a new era of financial innovation and decentralized finance. However, alongside their disruptive potential comes a pressing need for regulatory clarity and oversight.
In this feature, we embark on a comprehensive journey across six jurisdictions—Cayman, Hong Kong, Ireland, Jersey, Singapore, BVI and Luxembourg—looking at the regulations governing virtual assets and VASPs. Through a series of insightful articles, we delve into the evolving regulatory frameworks, compliance challenges, and industry developments shaping the future of this burgeoning sector. Each jurisdiction offers a unique perspective on navigating the complexities of virtual asset regulation. With each working to establish themselves as powerhouses in fintech innovation, our exploration promises a diverse array of insights into the regulatory dynamics at play.
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