Collective Investment Scheme

A collective investment scheme must only be established, offered and operated in Lebanon in accordance with Law 161 of Collective Investment Schemes in Securities and Other Financial Instruments

Categories of Collective Investment Schemes

CategoryDescription
Approved SchemeA collective investment scheme created under Law 706 that meets the requirements for publicly offered collective investment scheme in Lebanon and is approved by the Capital Markets Authority
Recognized SchemeA collective investment scheme created in a foreign jurisdiction that offers equivalent protection to Law 706 that is approved (or equivalent) under that law as eligible for public subscription and is recognized as eligible for public offer in Lebanon by the Capital Markets Authority
Exempt Offer SchemeExempt offer scheme – a collective scheme created under Lebanese law that has registered its exempt offer with the Authority, that is only offered to professional clients in Lebanon and specifies a minimum subscription of $US 100,000 into the scheme

Foreign exempt offer scheme – a collective investment scheme created in a foreign jurisdiction that has registered its exempt offer with the Authority that is only offered to professional clients in Lebanon and that specifies a minimum subscription of $US 100,000 into the scheme

Legal Requirements

Sr.

No

ElementRequirement(s)
Entity RequirementsThe entity making the application is:

  1. Company
  2. Limited partnerships,
  3. Unit trust or
Director’s RequirementsThe licensee will need at least 2 (two) natural person Fit and Proper Directors of any jurisdiction.
Shareholder requirements
  • The investment dealer will need at least one shareholder.
  • Corporate shareholding is allowed and 100% foreign ownership is permitted.
CIS ManagerAn approved institution to manage collective investment schemes created under Lebanese law including a CIS manager that is an Islamic institution.
CIS OperatorWhere a collective investment scheme is formed under a foreign law, the entity responsible for the operation of the scheme that includes the Board of Directors of a scheme that is a corporate scheme.
CustodianAn approved institution for the provision of custody acting in this capacity to a collective investment scheme formed under Lebanese law.
Local OfficeThe applicant must have premises acceptable to the authority. The premises should be able to facilitate confidential interaction between the applicant and its clients, and provide for safe and confidential storage of documents.
AuditorThe Licensee, within one month after becoming licensed, shall appoint an external auditor who is acceptable to the Commission
InsuranceThe applicant must have indemnity insurance coverage or a fidelity bond acceptable to the regulator
Minimum Capital Requirements

Ongoing Obligations

  1. Licenses are to be renewed annually after the date of registration.
  2. Filing of Audited Accounts: The licensee shall for the financial year beginning on the day on which it commences to carry on its business; and for each subsequent year submit to the Commission, within ninety days after the end of the financial year, audited financial statements prepared in accordance with international accounting standards, and which contain such additional information as may be prescribed.
  3. The Licensee must maintain appropriate policies of insurance for the purpose of indemnifying such licensee against any liability that may be incurred as a result of any act or omission by the licensee or any of its officers or employees in the conduct of the licensee’s securities business.

About Valsen Fiduciaries

Valsen Fiduciaries is a licensed independent global service provider of a broad range of fiduciary, administrative, legal, corporate secretarial and support services.

    1. Company formations and Administration
    2. Assistance with Bank Account opening
    3. Collective Investment Setup and Administration
    4. Intellectual Property Registrations and Maintenance.
    5. Trusts and Foundations setup and administration
    6. Online Payment Gateway Solutions
    7. Banking Licenses and PSP, E-Money, E- Wallet Licenses
    8. Yacht and aircraft registrations.
    9. Cryptocurrency Solutions (ICO, STO, Crypto Exchanges etc)

The Valsen Advantage

  • We will advise you on the optimal legal structure for your requirements, size, expectations and circumstances. We have extensive knowledge of a wide range of securities dealer licenses in all major jurisdictions.
  • Valsen will assist to complete every form for each process in the best way we know how (Based on our many years’ experience with various regulators and service providers across the world)
  • We are very hands on in the post filing period checking with re regulator and service providers and updating you regularly. Any queries raised by the regulators and service providers during processing will be quickly synthesized by us and we shall craft the right responses to move the process forward fast.
  • We have a full in-house compliance support for all compliance requirements with the regulator and service providers

Our Contact Details

Please visit us on: www.offshorelicense-regulatory.com , www.valsen-corporate.com

OR Contact us on:

  • Tel: +248 4321018
  • WhatsApp: +248 2525217
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  • Email: [email protected]