SICAV
The SICAV (or SICAF) is a company limited by shares, separate from its shareholders and whose main activity is to invest in financial assets. Its management policy is strictly monitored by the CSSF. The funds must be placed in a custodian bank and their management must be entrusted to a regulated body. The minimum capital required is 1 Million Euros. Its registered headquarters must be in Luxembourg, where the company can enjoy an attractive fiscal status, as it is not subject to corporate taxation but only to an annual registration tax on its capital (0,05%).
For a long time, the Grand Duchy of Luxembourg has been recognized throughout the world for expertise in funds management.
The most popular funds for private investors and institutions over the past few years have been mutual funds and Sociétés d'Investissement à Capital Variable (Variable Capital Investment Companies).
Investors can invest either in a SICAV belonging to them, in an existing SICAV, or in unit of a SICAV where they can decide in advance on the portfolio allocation.
More information