Luxembourg is the premier EU jurisdiction for Alternative Investment Fund Manager (AIFM) authorisation — providing an EU AIFMD passport to market AIFs to professional investors across the 27 EU member states.
The EU Alternative Investment Fund Managers Directive (AIFMD) requires that fund managers marketing alternative investment funds (AIFs) to EU professional investors be authorised as an AIFM. Luxembourg's CSSF is one of Europe's most respected financial regulators, and Luxembourg-domiciled AIFMs benefit from the full AIFMD passport — the ability to market AIFs across all 27 EU member states under a single regulatory regime.
Marensa Advisory advises on Luxembourg AIFMD authorisation strategy — including CSSF application, depositaire arrangements, reporting obligations, and the management of non-EU AIFs under the AIFMD national private placement regime.
Apply for Luxembourg AIFMD AuthorisationAIFMD authorisation in Luxembourg is the standard route for non-EU fund managers seeking EU institutional marketing access.
An AIFMD passport is the most efficient route for fund managers marketing alternative investments to EU professional investors at scale — but CSSF substance requirements and depositary obligations must be taken seriously.
Marensa Advisory advises on Luxembourg AIFMD structuring with a focus on commercial deliverability — combining regulatory expertise with understanding of fund managers' commercial objectives and investor requirements.
Start the ConversationYes. CSSF requires that the Luxembourg AIFM demonstrate genuine substance in Luxembourg — at minimum, two CSSF-approved conducting officers who are responsible for the firm's regulated activities and who are not fully occupied by delegated functions elsewhere.
Yes. This is the primary use case. A non-EU manager establishes a Luxembourg AIFM, delegates portfolio management to the non-EU entity, and uses the Luxembourg AIFM's AIFMD passport to market to EU professional investors across all 27 member states.
AIFMD II entered force in 2024 — tightening delegation rules, introducing new loan origination fund provisions, and expanding depositary passport provisions. Luxembourg AIFMs must comply with AIFMD II requirements in their compliance programmes.
CSSF has a statutory review period of 3 months from receipt of a complete application. In practice, the process from initial engagement to authorisation typically takes 6–9 months — including entity formation, staff recruitment, and CSSF review.