Apply for a licence
Managers of alternative investment funds need a licence. To be eligible for a licence, you must have a concrete intention to carry out activities that require a licence. You can demonstrate this because you are already active as an exempt manager or because you have prepared for managing and marketing one or more alternative investment funds.Conditions
In order to obtain a licence, you must be able to demonstrate that you meet a large number of conditions from the moment the activities subject to a licence are performed.
These terms and conditions include activities of the manager, such as:
- transparent control structure
- controlled and ethical business operations
- Conflict of Interest Prevention and Management Policy
- Appropriate delegation arrangements
- Sound remuneration policy
- Solvency and liquidity
- Provision of information to investors
- suitability for specific investment fund(s)
- fit and proper assessment of (executive) directors, (possibly) supervisory directors and holders of qualified participation of/in the manager.
Costs and assessment period
The AFM charges a fee for processing a licence application, based on a rate of €200 per hour for AFM activities up to a maximum of €100,000.
The AFM must take a decision within 13 weeks of receipt of the licence application. This period can be extended by 13 weeks. As soon as the AFM requests further data or information to supplement the licence application, the assessment period will be suspended until the AFM has received the requested information. If the AFM does not receive (sufficient) supplementary information to the application within the period set by the AFM, it may decide to disregard or dismiss the licence application.
You submit the licence application with accompanying documents via the AFM Portal.
Application for an investment company licence without a separate manager
An application for licence for an investment company without a separate manager is subject to the same conditions, costs and time limit as for an application for licence for an alternative investment company manager. (As described above).