01 / Define the investment proposition
Clarify the asset classes, investment strategy, target investor categories, projected fund size, liquidity profile, distribution markets and commercial objectives. Those decisions constrain which legal and regulatory structures are realistic.
02 / Select the fund framework
Compare the applicable regimes, legal forms and authorisation routes. A Luxembourg UCITS, Part II UCI or SIF requires CSSF authorisation; a RAIF itself does not require product approval, but must appoint an authorised external AIFM.
03 / Appoint the right specialists
Depending on the vehicle, you may need an authorised management company or AIFM, a depositary, a central administrator, an auditor, legal advisers and other service providers. Confirm the responsibilities and eligibility of every provider before engaging them.
04 / Prepare documentation and operations
The fund will need suitable constitutional and offering documents, governance arrangements, operational processes, risk management, valuation and compliance procedures, and applicable investor disclosures. Do not treat any checklist as a substitute for individual legal advice.
05 / Approval, launch and continued compliance
Complete the correct authorisation, registration or notification steps before launch or marketing, as applicable. After launch, ongoing reporting, oversight, periodic disclosures and operational controls remain important.
No universal setup price or guaranteed authorisation timeframe applies. Request formal fee estimates and confirm current CSSF requirements for the exact vehicle.