UNREGULATED FUNDS
Unregulated Funds & Holdings
Explorez nos structures de titrisation et de détention au Luxembourg.
RAIF
The Reserved Alternative Investment Fund (RAIF) is a flexible, fast‑to‑market Luxembourg investment vehicle introduced in 2016. It combines features of regulated funds but does not require CSSF authorisation, relying instead on an authorised AIFM for indirect supervision.
Découvrir le RAIF →SCSp / SCS
Luxembourg limited partnership structures — SCS and SCSp — are widely used in the alternative investment industry due to their contractual flexibility, tax transparency, and absence of CSSF supervision when unregulated. OLISTONE provides detailed technical guidance on both structures in its publications
Détails de la SCSp →SOPARFI
A SOPARFI is a Luxembourg financial holding company widely used for international investment structuring, intra‑group financing, and holding of participations. While not a regulated investment vehicle, the SOPARFI plays a central role in corporate structuring in Luxembourg.
Expertise SOPARFI →Key Authorities
Supervisory and Administrative bodies for unregulated vehicles.
CSSF
While unregulated funds aren't directly supervised, the CSSF oversees the Authorized AIFM and monitors AML/CFT compliance across the financial sector.
Site de la CSSF →BCL
The Banque Centrale du Luxembourg requires mandatory registration and periodic statistical reporting for all non-regulated investment funds.
Site de la BCL →RCS & RBE
Responsible for the legal existence of the fund, public filings, and the Register of Beneficial Owners (RBE) to ensure corporate transparency.
Accès au Registre →AED
The authority in charge of VAT and the annual subscription tax (Taxe d'abonnement) applicable to structures like the RAIF.
Portail AED →