Luxembourg specialised investment fund (SIF): sourced answers
6 answers to specific questions — each with a verbatim quote from an official source and a link to it.
Every answer is checked against a verbatim quote from a stored copy of its source and has passed an independent review. This is reference information, not legal advice: rules change, and the outcome depends on your circumstances.
Fund: supplement to the legal-form questionnaire
How is the fund admitted by the regulator: registration, notification, authorisation, consent, recognition or no admission
The CSSF authorises and supervises a SIF as a product
«specialised investment funds to which this Chapter 4 applies is completed by the words "specialised investment fund" or "FIS". Chapter 5. – Authorisation and supervision Article 41. (1) The authority which is to carry out the duties provided for in this Law is the CSSF. (2) The CSSF carries out its duties exclusively in the public interest. (3) The CSSF ensures that the specialised investment funds subject to this Law and their directors, comply with the applicable legal and contractual rules. Article 42. “(1) Specialised investment funds subject to this Law must, in order to carry out their activities, be previously authorised by the CSSF. (2) An investment fund shall be authorised only if the CSSF has approved its constitutive documents and the choice of the depositary. (3) The directors of the specialised investment fund and of the depositary must be of sufficiently good repute and have sufficient experience, also in relation to the type of the specialised investment fund concerned. The identity of the directors of the specialised investment fund and of every person succeeding them in office, must be communicated forthwith to the CSSF. …»
Source: cssf.lu · source copy as of 2026-10-02
«he Law of 17 December 2010 (“Part II UCIs”); specialised investment funds governed by the Law of 13 February 2007(“SIFs”); investment companies in risk capital governed by the Law of 15 June 2004 (“SICARs”). General considerations A UCI shall, in order to carry out its activities in Luxembourg, be previously authorised by the CSSF pursuant to the relevant article of the sectoral law (Article 129 of the Law 17 December 2010, Article 42 of the Law 13 February 2007, or Article 12 of the Law 15 June 2004). A UCI shall be authorised only if the CSSF has approved the articles of incorporation or the partnership agreement (if the UCI is set up in corporate form as an investment company), or the management regulations (if the UCI is set up in the contractual form as a common fund), and the choice of the depositary. In addition, a UCI set up in contractual form as a common fund shall only be authorised by the CSSF if it has approved the application of its proposed management company and/or AIFM. …»
Source: cssf.lu · source copy as of 2026-10-02
Can the fund be open-ended, closed-ended or either
open- or closed-ended
«nnexes to the Prospectus Regulation. VII.3 How are specialised investment funds handled under the Prospectus Law? Last update: October 2012 The law of 13 February 2007 relating to specialised investment funds (“SIF Law”) states that specialised investment funds (“SIFs”) may take the form of open-end or closed-end UCIs. Article 52(3) of the SIF Law provides that where a prospectus has been published in accordance with the Prospectus Law, there is no further obligation to establish an offering document within the meaning of the SIF Law (an exemption in a converse situation is not provided for by this Art»
Source: cssf.lu · source copy as of 2026-10-03
Legal form in a country
Which statute (act) establishes the legal form
law of 13 February 2007
«This consolidated text was drawn up by the CSSF for information purposes only. In case of discrepancies between the French and the English consolidated texts, the texts published in the Journal officiel du Grand- Duché de Luxembourg are the sole authoritative and universally valid versions. Law of 13 February 2007 relating to specialised investment funds Law of 13 February 2007 relating to specialised investment funds and - amending the Law of 20 December 2002 relating to undertakings for collective investment, as amended; - amending the Law of 12 February 1979 on value added tax, as amended. (Mém. A 2007, No 13) as amended by: - the Law of 19 December 2008 - revising the regime applicable to certain company acts as regards registration taxes - implementing Council Directive 2008/7/EC of 12 February 2008 concerning indirect taxes on the raising of capital - amending: • the Law of 7 August 1920 increasing registration taxes, stamp duties, inheritance taxes, etc., as amended • the Law of 20 December 2002 concerning undertakings for collective investment, as amended • the Law of 22 March 2004 on securitisation • the Law of 15 June 2004 relating to the investment company in risk capita …»
Source: cssf.lu · source copy as of 2026-10-02
What annual tax on net assets (subscription tax and similar) does the structure pay
Subscription tax 0.01% a year of net assets for a RAIF or SIF
«the levy of registration and transcription taxes and the application of national law regarding value added tax and subject to the requirements of Article 48 of this Law, no other tax shall be payable by reserved alternative investment funds apart from the subscription tax referred to in Article 46. (2) The amounts distributed by reserved alternative investment funds shall not be subject to a withholding tax. They are not taxable if received by non-residents. Article 46. (1) The rate of the annual subscription tax payable by the reserved alternative investment funds shall be 0.01 per cent. (2) Exempt from the subscription tax are: a) the value of the assets represented by units held in other undertakings for collective investment, provided that such units have already been subject to the subscription tax provided for by this Article or by Article 174 of the amended Law of 17 December 2010 on undertakings for collective investment or by Article 68 of the amended Law of 13 February 2007 on specialised investment funds. (Law of 21 July 2023) “In order to qualify for the e»
Source: cssf.lu · source copy as of 2026-10-02
«being authorised for that purpose by the supervisory commissioner. Chapter 11. – Fiscal provisions Article 66. (1) Apart from the capital duty levied on the contribution of capital to civil and commercial companies and the subscription tax mentioned in Article 68 below, no other tax shall be payable by the specialised investment funds referred to in this Law. (2) Without prejudice to the provisions of the Law of 21 June 2005 implementing in Luxembourg law Directive 2003/48/EC on taxation of saving incomes in the form of interest payments, the amounts distributed by such specialised investment funds shall not be subject to a deduction at source. They are not taxable if received by non residents. Article 67. “(…)” 102 Article 68. (1) The rate of the annual subscription tax payable by the specialised investment funds referred to in this Law shall be of 0.01%. …»
Source: cssf.lu · source copy as of 2026-10-02
At what rate is tax withheld on payments from the structure to a recipient of the given category (where the form or regime has its own rate)
no WHT on distributions
«being authorised for that purpose by the supervisory commissioner. Chapter 11. – Fiscal provisions Article 66. (1) Apart from the capital duty levied on the contribution of capital to civil and commercial companies and the subscription tax mentioned in Article 68 below, no other tax shall be payable by the specialised investment funds referred to in this Law. (2) Without prejudice to the provisions of the Law of 21 June 2005 implementing in Luxembourg law Directive 2003/48/EC on taxation of saving incomes in the form of interest payments, the amounts distributed by such specialised investment funds shall not be subject to a deduction at source. They are not taxable if received by non residents. Article 67. “(…)” 102 Article 68. (1) The rate of the annual subscription tax payable by the specialised investment funds referred to in this Law shall be of 0.01%. …»
Source: cssf.lu · source copy as of 2026-10-02
Distributions carry no withholding tax
«being authorised for that purpose by the supervisory commissioner. Chapter 11. – Fiscal provisions Article 66. (1) Apart from the capital duty levied on the contribution of capital to civil and commercial companies and the subscription tax mentioned in Article 68 below, no other tax shall be payable by the specialised investment funds referred to in this Law. (2) Without prejudice to the provisions of the Law of 21 June 2005 implementing in Luxembourg law Directive 2003/48/EC on taxation of saving incomes in the form of interest payments, the amounts distributed by such specialised investment funds shall not be subject to a deduction at source. They are not taxable if received by non residents. Article 67. “(…)” 102 Article 68. (1) The rate of the annual subscription tax payable by the specialised investment funds referred to in this Law shall be of 0.01%. …»
Source: cssf.lu · source copy as of 2026-10-02
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