- June 5, 2025
- Posted by: АРОУ
- Category: Publications
Mutual Investment Fund Registration in Ukraine
Investment funds are an effective tool for raising capital, managing assets, and expanding a business. In Ukraine, their operations are regulated by the Law “On Collective Investment Institutions” and supervised by the National Securities and Stock Market Commission (NSSMC).
The Legal and Real Estate Association of Ukraine offers a full range of legal services for registering investment funds — corporate (CIF) and mutual (MIF). We will help you select the right structure, prepare the necessary documents, and successfully complete the registration process.
What Are Investment Funds
Corporate Investment Fund (CIF)
A CIF is a legal entity in the form of a joint-stock company that issues shares and manages raised investments.
Key Features of CIF:
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Has legal entity status
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Governed by a supervisory board and executive body
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Assets belong to the fund as a legal entity
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Investors earn returns through dividends or share value appreciation
Mutual Investment Fund (MIF)
An MIF is not a legal entity; investors’ funds are pooled and managed by an asset management company (AMC).
Key Features of MIF:
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Not a legal entity
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Managed by an AMC
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Investors receive a share via investment certificates
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Can be open-ended, interval, or closed-end
Investment Fund Registration Procedure
1. Determining the Fund Type and Structure
Choosing between CIF and MIF, defining investment policy, capital raising mechanisms, and asset management principles
2. Document Preparation
To register a CIF or MIF, you need:
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Charter and internal rules
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Investment declaration and operating regulations
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Details of management bodies or AMC
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Information on the type of securities (shares or certificates)
3. State Registration
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CIF: registration as a legal entity in the state register
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MIF: agreement with an AMC and fund regulation drafting
4. Registration with the NSSMC
Both types of funds must be registered with the National Securities and Stock Market Commission
5. Issuance and Placement of Securities
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CIF issues shares
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MIF issues investment certificates
6. Account Opening and Launch
After registration, the fund opens accounts with depositories and banks and starts operations
How We Help Our Clients
The Legal and Real Estate Association of Ukraine provides full legal support for investment fund registration, including:
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Business model analysis and optimal fund type selection
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Preparation of all required documentation
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Registration with public authorities and the NSSMC
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Consultations on ownership structure, taxation, and legal compliance
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Post-registration legal support including corporate governance and finance
