We discussed safekeeping lodged into an investment company in risk capital (société d’investissement en capital à risque - “SICAR”). Let’s now continue to the other important administrative and professional services aspects that must be kept in mind when setting-up a SICAR. The directors of the SICAR must be of sufficiently good repute and have sufficient experience for performing their functions (the so-called “Fit and Proper Test” conducted by the CSSF). The SICARs must have the accounting information provided in their annual report audited by an approved statutory auditor (réviseur d’entreprises agréé). Other typical service providers include lawyers, domiciliation agents, management company (portfolio and risk management…), investment advisers, distributors and paying agents. 

References: Article 12(3) and 27(1) §1 of the amended law of 15 June 2004 on SICAR ; Safekeeping (SICAR), September 23, 2020, Bertrand Mariaux.

Contributor: Cédric Buisine, Avocat à la Cour

*Podcast #277:

*YouTube Video 266|: 

Bertrand Mariaux, Avocat à la Cour, LL.M. (hons.)

Prestation de serment (Swearing-in oath): Luxembourg (2011), Certificat d’Aptitude à la Profession d’Avocat, École de Formation professionnelle des Barreaux de la Cour d’appel de Paris (2009), Bond University (LL.M. (distinct.), International Legal Practice, 2010), Université Sorbonne Paris Nord & University of Limerick (Master in European & International Law - major in economics, 2008), certified Expert in Microfinance (Frankfurt School of Finance & Management, 2015), social entrepreneurship (University of Oxford, 2015 & The Wharton School of Social Policy & Practice, 2014) and social & solidarity economy (International Labour Organization Academy - Social & Solidarity Economy, Organisation Internationale du Travail - Économie Sociale et Solidaire, 2017)