International Collective Investment Schemes

The definition of International Collective Investment Schemes (ICIS) is the collection and investment of funds by unit-holders in various schemes worldwide.

The establishment, operation and regulation of International Collective Investment Schemes are governed by the Law No. 47 (I) of 1999 and are regulated by the Central Bank of Cyprus.

ICIS may take either one of the following legal forms:

  1. International Variable Capital Company
  2. International Fixed Capital Company
  3. International Unit Trust Scheme
  4. International Investment Limited Partnership Scheme.

All above forms of ICIS may be for either a limited or unlimited duration period.

ICIS can be marketed:

  1. to the general public
  2. to experienced investors solely,
  3. to a private international collective investment scheme (with 100 or even less investors).

One of the major advantages of registering an ICIS is that it can benefit from the favourable tax regime of Cyprus as it is treated like any other Cypriot entity. This means that 10% corporate tax is charged on ICIS's net profits earned worldwide.

Furthermore there is no taxation on the disposal of securities, which may be shares, bonds, units, debentures and other forms of title.

An ICIS enjoys exemption from taxation from dividends and profits received from abroad from its participation. Also, it pays no withholding taxes on dividends, interest and royalties which are paid to non-resident.

It is also considered as the ideal vehicle for investment in jurisdictions such as Russia, Ukraine, Poland, Czech Republic, Romania, Bulgaria, etc.

Our Firm has been involved in the collection of information, application, and drafting of all necessary documents, registration, administration and maintenance of ICIS.

For further information please contact us at


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