EN

FR

Accounting

We offer an extensive range of accounting services for both regulated and unregulated entities.

For regulated entities:

  • Preparation and recording of accounting entries, preparation of balance sheet and profit and loss statement (Lux GAAP or IFRS)
  • Calculation of provisions and payment of subscription tax to local authorities on a quarterly basis
  • Coordination with external auditors for the preparation and planning of the year-end audit and provision of required information and supporting documents
  • Supervision of the audit process
  • Official NAV calculation

For unregulated entities:

  • Preparation and recording of accounting entries, preparation of balance sheet and profit and loss statement and, if necessary, on an ad hoc basis (Lux GAAP and IFRS)
  • Filing and publication of the annual financial statements with the Trade and Companies Register
  • Provision of statutory financial statements and cost accounting
  • Preparation and filing of financial statements for Luxembourg companies
  • Completion of an audit by the statutory auditor to verify that the annual financial statements comply with applicable accounting standards, accounting records and supporting documents for companies that are not subject to statutory audit by an independent auditor
  • Transmission of all available information and supporting documents to the independent auditors (for companies that are subject to statutory audit by an independent auditor) and supervision of the audit process

View our reporting services for these accounting activities.

Reporting services

We offer a broad range of reporting services for both regulated and unregulated entities, from the preparation of financial statements to the drafting of reports required to comply with applicable legal standards and requirements.

For regulated entities:

  • Preparation of financial statements in accordance with current accounting standards (Lux GAAP or IFRS)
  • Drafting of regulatory reports to be submitted to the CSSF/BCL
  • Preparation of the NAV report to be submitted to the Board of Directors
  • Coordination with external auditors for the preparation and planning of the year-end audit and provision of required information and supporting documents

For unregulated entities:

  • Preparation of financial reports in accordance with current accounting standards (Lux GAAP and IFRS)
  • Transmission of all available information and supporting documents to the independent auditors (for companies that are subject to statutory audit by an independent auditor)
  • Assistance in the preparation and presentation of financial statements to the approved auditors of Luxembourg

Domiciliation and management

We offer an extensive range of services for the administration/domiciliation and management of companies. This includes the following services:

  • Provision of a registered office, creation and administration of a dedicated file
  • Register keeping of administered companies
  • Day-to-day management, assistance and coordination for every project by a dedicated client manager
  • Assistance in the distribution of brochures and financial reports to stakeholders
  • Provision of independent directors, managers and authorised signatories
  • Coordination of the incorporation process
  • Provision of office space and installation support for all equipment, including telephone lines and network connections
  • Coordination with the banking institution in Luxembourg in order to open one or more bank accounts
  • Registering the fund with the relevant authorities
  • Keeping all documents, accounting records, prospectuses and annual reports for 10 years

Vehicles: SICAR (undertaking for collective venture capital investments)/SIF/RAIF

Luxembourg, a major player in investment fund management

Luxembourg is considered the largest investment fund management hub in Europe, and the second largest in the world after the United States. Local authorities have always supported the fund sector by offering regulated yet flexible solutions to fund promoters. The introduction in 2004 of the law on undertakings for collective venture capital investments (SICARs), the law on specialised investment funds (SIFs) in 2007 and the law on reserved alternative investment funds (RAIFs) in 2016 has positioned Luxembourg as a highly attractive region for the administration of alternative investment funds (AIFs).

Private equity and venture capital investments

Thanks to a pragmatic and innovative approach by Luxembourg’s supervisory authorities, a flexible and stable legal and regulatory environment, and experienced professionals, Luxembourg has become an international hub for the development of private equity and venture capital structures, with perfectly tailored vehicles such as the SICAR, SIF and RAIF.

Other unregulated vehicles can also be adjusted for this type of project, including SOPARFI and SCSp.

SICAR . SIF . RAIF


Our investment fund services:

Our dedicated team of experienced professionals takes care of the specific requirements for managing regulated vehicles.


Implementation:

  • Review of legal documentation such as the articles of association, prospectus, special limited partnership agreement or management regulations
  • Coordination/attendance at introductory meetings, conference calls, kick-off meetings and correspondence with the various stakeholders involved in the operational implementation of the structure
  • Coordination with the banking institution in Luxembourg in order to open one or more bank accounts
  • Implementation of an “operating memorandum”, setting out all of the operating flows between the parties, and detailing a whole series of necessary information, such as the accounts opened in our books, contact people, “cut-off times, and account interest

Transfer agent and registrar services:

  • Complete review of documents obtained from the different parties as part of our “AML/KYC - Anti-money laundering /Know your customer” processes
  • Verification of investor status (informed, CRS, FATCA, etc.)
  • Handling of subscriptions, redemptions, transfers and payment orders
  • Keeping records of commitments and executing capital calls
  • Recording and execution of dividend payments
  • Preparation of reports for investors
  • Register keeping

SICAR

Introduced by the law of 15 June 2004, the undertaking for collective venture capital investments, commonly known as a SICAR, is a regulated vehicle primarily dedicated to venture capital and private equity investments, in the broader sense.



SIF

On 13 February 2007, the Luxembourg Parliament adopted a law introducing the Specialised Investment Fund (SIF). This new law replaces the law of 19 July 1991 on collective investment undertakings, the securities of which are not intended for public distribution.

On 6 March 2012, the Luxembourg Parliament voted and approved the amendment to the existing law on SIFs (Law of 26 March 2012 amending the Law on SIFs). The main objective of this legislative amendment is to bring Luxembourg legislation in line with the requirements of the AIFM Directive.


RAIF

On 23 July 2016, the Luxembourg Parliament introduced Reserved Alternative Investment Funds (RAIF). A RAIF is an investment fund that doesn’t receive approval directly from the CSSF, but which is indirectly overseen by the CSSF through the approval granted to the management firm required for the RAIF.


Real estate:

Luxembourg’s real estate sector has developed considerably in recent years, mainly due to the wide range of services provided from Luxembourg, as well as flexible and efficient vehicles (regulated and unregulated).

Thanks to its extensive ability to structure real estate projects, Luxembourg offers an undeniably strategic location and provides fund managers with a suitable environment to develop their operations.

Through the use of SIFs, BFCS Luxembourg can help you set up and manage your projects. Other vehicles such as SOPARFIs are alternative options.