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Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers (“AIFMD”) defines the notification procedure for managing AIFs established in another Member State by Luxembourg based AIFMs.

According to Article 32 of the Law of 12 July 2013 on alternative investment fund managers (“AIFM Law”), which, together with Article 33, transposed into Luxembourg law the provisions of Article 33 of the AIFMD, a Luxembourg based AIFM which intends to manage AIFs established in another Member State for the first time, must communicate the following information to the CSSF:

1. the Member State in which it intends to manage AIFs directly or establish a branch, and/or to provide the services referred to in Article 5(4) ;
2. a programme of operations stating in particular the services which it intends to perform and/or identifying the AIFs it intends to manage.

If the Luxembourg based AIFM intends to establish a branch, it shall additionally provide the following information:

1. the organisational structure of the branch;
2. the address in the home Member State of the AIF from which documents may be obtained;
3. the names and contact details of the persons responsible for the management of the branch.

The information must be sent to the CSSF using the email address: luaifm33@cssf.lu via the notification forms and the annex available for download below under “Forms”.

Point of attention: In case of notification under the freedom of establishment by establishing/modifying a branch, in addition to the main notification letter, the notification letter of persons responsible for a branch and the CSSF annex should be sent, if applicable.

In accordance with Article 32(4) of the AIFM Law, the CSSF shall, within 1 month of receiving the complete documentation in the case where the AIFM intends to manage AIFs directly, or within 2 months of receiving the complete documentation in the case where the AIFM intends to establish a branch, transmit the complete documentation to the competent authorities of the host Member State of the AIFM (i.e. the Member State in which the AIF is established). Such transmission shall occur only if the AIFM’s management of the AIF complies, and will continue to comply, with the AIFM Law and the AIFM otherwise complies with the AIFM Law.

The CSSF shall enclose a statement to the effect that the AIFM concerned is authorised by the CSSF. The CSSF shall furthermore directly thereafter notify the AIFM about the transmission. Upon receipt of the transmission notification, the Luxembourg based AIFM may start to provide its services in its host Member State.

According to Article 32(5) of the AIFM Law, in the event of a material change in the information originally submitted, the Luxembourg based AIFM shall provide written notice of this change to the CSSF. As stipulated in Article 32(5), all material changes must be notified to the CSSF at least 1 month before implementing the change as regards any changes planned by the AIFM, or immediately after an unplanned change has occurred.

Changes to the information originally submitted must be sent to the CSSF using the email address: luaifm33up@cssf.lu.

All legal and regulatory documents (including FAQs) can be found in the Regulatory framework section. Furthermore, information on the fees to be paid by AIFMs is set out in a Grand-ducal Regulation on the fees to be charged by the CSSF, available in the “Laws, regulations and directives” section below.

All forms can be found in the Publication and Data section.

AIFM authorised in the EU/EEA that intend to exercise their activities in Luxembourg under the freedom of establishment or under the freedom to provide services are required to complete the necessary formalities with their Home State authority, which will notify the CSSF.

The same holds true for changes to the initial notification.

AIFM authorised in the EU/EEA are required to notify in writing any changes to initial notifications as well as the termination of cross-border activities to their Home State authority, which will notify the CSSF.

Information on the fees to be paid by AIFMs is set out in a Grand-ducal Regulation on the fees to be charged by the CSSF, available in the “Laws, regulations and directives” section below.