Fund manager (AIFM) authorisation and registration
Full EU AIFM authorisation (2011/61/EU) — application preparation and management
Preparation and management of an application for authorisation as a full EU alternative investment fund manager (AIFM).
In short
Preparation and management of an application for authorisation as a full EU alternative investment fund manager (AIFM). The price is from €69,500, excluding VAT. How long it takes: drafting 10–16 weeks; FSA 3 months from complete application. It is ordered and paid on micaconsult.com.
Who it is for
Managers above the small-AIFM thresholds or marketing to investors across the EU.
Price
| Service | Price | Order |
|---|---|---|
| Full EU AIFM authorisation (2011/61/EU) — application preparation and management | from €69,500 | Order |
All prices are in euros and exclude VAT. VAT is added where it applies under the Estonian Value Added Tax Act.
What the price includes
- Application for authorisation as an AIFM under IFS / AIFMD
- All policies required for authorisation
- Management of the FSA's questions
- Programme of operations
- Risk, liquidity, valuation and remuneration policies
- Depositary and delegation arrangements
- Application file
Not included in the price
- State fees and capital
- Depositary and audit fees
State and notary fees
State fees and the fees of the supervisory authority are not included in the price; you pay them yourself.
- State fee for the registration / authorisation application
- Annual supervision fees
Requirements
Capital, fit and proper management, a depositary and real substance are required. Ordered and paid on this page; the amount is our fee for the standard scope, and work beyond it is done only with your written agreement. FIU licence FIU000117 is LexorCorp's own licence for its trust and company services; it does not authorise the client. The authorisation is granted or refused by the competent authority — no service provider can promise it.
Before we start
- Estonian management company
- Initial capital: full AIFM EUR 125,000 plus 0.02 % of assets above EUR 250 million (AIFMD Art. 9)
- Fit and proper management
Documents and information we need from you
- Articles of association and registry extract of the applicant
- Proof of registered office and place of management in Estonia (lease, premises)
- Organisational chart, staffing plan and job descriptions of key functions (compliance, risk management, internal audit, AML officer)
- For each management board and supervisory board member: CV, copy of passport, criminal record certificate(s) from every country of residence in the last 10 years, declaration on fitness and propriety (investigations, dismissals, insolvencies, sanctions), evidence of qualifications and experience, time commitment and conflicts of interest
- For each qualifying holder (10 % or more, direct or indirect): identity, ownership chart up to the ultimate beneficial owners, source of funds for the capital, financial statements (legal persons), fit-and-proper declaration and criminal record
- Investment strategy, target investors, leverage, fund size
- Proposed depositary and auditor
How long it takes
Drafting 10–16 weeks; FSA 3 months from complete application
Law and requirements
- Directive 2011/61/EU (AIFMD)
- Investment Funds Act
General information about our service, not legal advice.
Cost and time at a glance
| Our fee | from €69,500 — the fee for the standard scope, paid when you order |
|---|---|
| Fee of the authority | paid by you to the authority, not part of our fee:
|
| Our drafting | usually 10–16 weeks, depending on how complete your information is |
| Time of the authority | FSA 3 months from complete application — the authority's own term, which we do not control |
| Decision | made by the authority alone; no outcome is promised |
How a full AIFM authorisation application works
Why full authorisation
You: You confirm that you manage above the small-manager thresholds or intend to market to investors across the EU.
We: We confirm that this calls for full authorisation under the AIFMD and the Investment Funds Act.
Order on the fund licensing page
You: You order the full authorisation application on the fund licensing page.
We: We carry out our own client checks and request the documents on the management company.
Capital, depositary and substance
You: You pay in the capital, propose a depositary and an auditor, and establish real substance in Estonia.
We: We record the depositary and delegation arrangements in the application.
Programme and policies
You: You explain your investment process, valuation approach and remuneration practice.
We: We draft the programme of operations and the risk, liquidity, valuation and remuneration policies over 10–16 weeks.
Review, signature and filing
You: You review the complete file with us and sign it.
We: We submit the file to Finantsinspektsioon and take over the correspondence.
Answers to the supervisor
You: You give us the substance for each answer the supervisor requests.
We: We formulate the answers and send them to the supervisor in writing.
The supervisor decides
You: You receive the decision as the applicant and, if authorised, run the manager under its conditions.
We: We are not the decision-maker: the Estonian Financial Supervision Authority alone grants or refuses a full AIFM authorisation.
Questions and answers
Full EU AIFM authorisation: what does it cost?
From €69,500, excluding VAT. State fees and the fees of the supervisory authority are not included in the price; you pay them yourself.
Full EU AIFM authorisation: who is it for?
Managers above the small-AIFM thresholds or marketing to investors across the EU.
Full EU AIFM authorisation: how long does it take?
Drafting 10–16 weeks; FSA 3 months from complete application
What is not included in the price?
State fees and capital; Depositary and audit fees.
Who makes the decision?
Finantsinspektsioon decides.
Related services and add-ons
- Fund documents and policies — from €3,500
- Supervisory reporting — from €2,400 / year
Part of
- Fund manager (AIFM) authorisation and registration — from €34,000
Order: Full EU AIFM authorisation · from €69,500 See it in the price list