Qualified Investor Funds: An Efficient Structure for Capital and Investment Management

A Qualified Investor Fund (QIF) is a flexible capital management vehicle, particularly suitable for structured investments, private equity, or family wealth management. QIFs combine the prestige of a financial institution with transparent operations subject to audit. This article provides an overview of the tax treatment of QIFs, their investors, and fund managers across selected jurisdictions.
 

The structure of a Qualified Investor Fund (QIF) can be tailored in various ways, depending on the specific investment setup. A QIF typically operates as a variable capital company (SICAV) and may be either self-managed or overseen by a licensed fund manager. Each option has its own characteristics—the right choice depends on the investment strategy, level of regulatory oversight, target number of investors, and scale of operations.

For more details on the tax implications and cost structure of QIFs across selected countries, refer to the comprehensive brochure prepared by our tax experts. You can download it at the end of this article.

 

Core Benefits of Qualified Investor Funds

• Flexible Investment Strategy – A QIF can invest in securities, equity interests, real estate, credit instruments, or even collectible assets.

• Regulatory Oversight – The fund operates under a regulated framework, ensuring compliance and investor protection.

• Transparency and Auditability – QIFs are subject to regular audits and controls, enhancing their credibility with partners, banks, and investors.

• EU Legal Framework – A QIF can be established in any EU member state, allowing for investment structuring in line with local legal and tax advantages.
  
   

Where to Establish a Qualified Investor Fund?

The jurisdiction of a Qualified Investor Fund plays a key role in determining its tax treatment and operating costs. The choice of country in which the fund is established directly impacts the overall tax burden and fund administration expenses.

Among the preferred jurisdictions for local investors are:

• Slovakia

• Czech Republic

• Cyprus

• Liechtenstein

• Luxembourg

Each of these options comes with its own regulatory, tax, and operational specifics. Therefore, the fund’s structure should be tailored individually to match the investors’ objectives.
More detailed country-specific insights are available in the attached brochure at the end of this article.

 

Everything You Need to Know About Tax and Legal Setups

Our tax experts have prepared a clear comparison of selected jurisdictions (Slovakia, Czech Republic, Luxembourg, Cyprus, Liechtenstein), including:

• taxation of fund income and gains,

• estimated operational costs,

• VAT implications and substance requirements.
   

📥Click the button below to download the full tax and legal overview.