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UnregulatedSpecial PurposeVehicles inCorporate FormUnregulatedSecuritisationVehiclesRisk CapitalStructures (SICAR)SpecialisedInvestment Funds(SIF)Private WealthManagementCompany (SPF)Substance inLuxembourg /Nationality orResidencyRequirementsRegistered office inLuxembourg. Nonationality/residencyrequirement forshareholders anddirectors/managersRegistered office inLuxembourg. Nonationality/residencyrequirement forshareholders anddirectors/managersRegistered office inLuxembourg. Nonationality/residencyrequirement forshareholders anddirectors/managersRegistered office inLuxembourg. Nonationality/ residencyrequirement forshareholders anddirectors/ managersRegistered office inLuxembourg. Nonationality/residencyrequirement forshareholders anddirectors/managersSegregatedSub-FundsNo Yes Yes Yes NoCapital Fixed capital Fixed capital Fixed or variable capital Fixed or variable capital Fixed capitalRisk Calculationof NAVNot applicable Not applicable The NAV must bedetermined at leastonce a year based onfair valueThe NAV must bedetermined at least oncea year based on fairvalueNot applicableMinimumCapital / NetAssetsRequirementsUpon incorporation: SA/SCA: € 31,000 S.àr.l: € 12,400Upon incorporation: SA/SCA: € 31,000 S.àr.l: € 12,400 SCoSA: norequirementSubscribed sharecapital must reach €1Mwithin 12 months fromautorisationFor FCPs:Net assets must reach€1.25M within 12 monthsfrom authorisation.For SICAV/Fs:Subscribed share capitaland share premium mustreach €1.25M within 12months fromauthorisation.Upon incorporation: SA/SCA:€ 31,000 S.àr.l: € 12,400 SCoSA: norequirement13

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