Best Funds & Asset Management Lawyers in Florina
Share your needs with us, get contacted by law firms.
Free. Takes 2 min.
List of the best lawyers in Florina, Greece
We haven't listed any Funds & Asset Management lawyers in Florina, Greece yet...
But you can share your requirements with us, and we will help you find the right lawyer for your needs in Florina
Find a Lawyer in Florina
1. About Funds & Asset Management Law in Florina, Greece
In Florina, as in the rest of Greece, funds and asset management are governed by a mix of national statutes and European Union directives. The core categories include Undertakings for Collective Investment in Transferable Securities (UCITS) and Alternative Investment Funds (AIFs). Fund managers and investment advisers must comply with ongoing supervision by Greek regulatory authorities and with EU requirements for transparency, risk management, and investor protection.
Florina residents often seek counsel to structure family offices, manage cross border portfolios, and ensure compliant administration of local assets such as real estate or business interests. A qualified solicitor or attorney who specializes in funds and asset management can translate complex regulations into practical steps for setting up funds, drafting agreements, and handling regulatory filings. The regulatory environment emphasizes clear documentation, fiduciary duties, and robust disclosures.
According to gov gr, MiFID II was transposed into Greek law in 2018 to strengthen investor protection and market transparency.
2. Why You May Need a Lawyer
- Setting up a UCITS or AIF to pool assets held in Florina and other parts of Greece requires bespoke documentation and regulator filings. A lawyer can draft the prospectus, articles, and management agreements to align with Greek and EU rules.
- Negotiating and drafting fund management agreements with investment managers or advisers. A lawyer ensures fee structures, performance metrics, and governance rights meet MiFID II requirements.
- Preparing regulatory submissions and maintaining ongoing compliance. A lawyer helps design policies on risk management, valuation, and disclosure that satisfy the Hellenic Capital Market Commission guidelines.
- Resolving disputes related to asset allocation, performance, or misappropriation within a fund. A lawyer can advise on remedies, arbitration, and potential cross jurisdictional issues.
- Estate planning and succession for a family office with assets in Florina. A lawyer can establish appropriate structures to transfer shares, real estate, and business interests to heirs while preserving tax efficiency and control.
- Cross border investments and tax optimization. A lawyer can coordinate with Greek and EU tax rules to minimize liability while ensuring compliance with cross border fund rules.
3. Local Laws Overview
- Greece implemented MiFID II through Law 4514/2018 with additional implementing regulations. This framework tightens conduct of business, product governance, and investor protection for asset managers operating in Florina and elsewhere in Greece. The regime affects how funds are marketed, how costs are disclosed, and how services are provided to clients.
Effective date and updates: MiFID II transposition took effect in 2018, with ongoing updates through subsequent ministerial decisions and supervisory guidance. This ensures alignment with EU standards for transparency, suitability assessments, and best execution.
- The Greek regime for UCITS funds follows EU UCITS directives and is implemented through national provisions that require authorization, ongoing supervision, and clear disclosure to investors. In Greece, UCITS structures are commonly used for retail investor funds and cross border distribution within the EU.
- AIFs in Greece are regulated to address non unitized, non UCITS structures, including AIFMs and their delegated managers. Greek law in this area has been amended over time to improve risk controls and reporting while enabling professional investors to access diversified strategies.
Recent changes and practical considerations - The Greek regime continues to evolve with EU market practices. When forming a fund in Florina, you should review current regulator guidance, as updates can affect prospectus content, fee disclosures, valuation policies, and governance arrangements. For authoritative guidance, consult official EU and Greek government resources.
4. Frequently Asked Questions
What is a funds and asset management lawyer in Florina?
A funds and asset management lawyer advises on setting up investment funds, drafting regulatory documents, and ensuring compliance with Greek and EU rules. They guide contract negotiations and help resolve disputes related to fund operations.
How do I start a UCITS fund in Florina?
Start by defining your asset pool, target investors, and distribution plan. Then engage a local solicitor to draft the prospectus, articles, and management agreements and prepare regulator filings.
What is the difference between UCITS and AIF in Greece?
UCITS are funds designed for retail investors with strict diversification and liquidity rules. AIFs are more flexibility focused, often for professional investors and sophisticated strategies under a different regulatory framework.
Do I need a local Florina solicitor or can I hire Athens counsel?
You can hire either, but local Florida counsel offers regional familiarity and easier coordination for assets in Florina. A local presence can help with particular formalities and filings in Greece.
How long does it take to obtain fund authorization in Greece?
Authorization timelines vary by fund type and complexity. UCITS authorizations typically range from 3 to 6 months, while more complex AIF structures may take longer depending on regulatory reviews.
How much does it cost to hire a funds and asset management attorney?
Costs depend on scope and seniority. Typical engagements include an initial retainer plus hourly rates or a flat project fee for set up. Expect a formal engagement letter outlining fees and milestones.
What documents are required to set up a fund in Greece?
You will generally need a detailed business plan, proposed fund documents (prospectus, articles, agreements), disclosures on risk and fees, and information on the fund manager and custodian.
Is MiFID II binding for all asset managers in Florina?
MiFID II applies to authorized investment firms and fund managers operating in Greece. It governs conduct of business, disclosures, and investor protections across the market.
Can a Florina family office set up a cross border investment fund?
Yes, a family office can set up a cross border investment fund, but it will require careful structuring, regulatory approvals, and ongoing compliance across jurisdictions.
What are typical fees for ongoing compliance services?
Ongoing compliance fees depend on the fund size and complexity. They cover annual reports, regulatory updates, governance reviews, and periodic filings with the regulator.
What should I look for in a fund management contract?
Look for clear governance rights, fee structures, performance metrics, risk management requirements, and termination provisions. Ensure alignment with MiFID II and local regulations.
Is there a difference between a solicitor and an attorney in Greek funds law?
In Greece, both terms may be used, but a solicitor or attorney with specialized funds expertise can provide practical guidance on structuring, filings, and compliance.
5. Additional Resources
- Gov.gr - Official Greek government portal with information on investment funds and financial services. https://www.gov.gr
- European Securities and Markets Authority (ESMA) - EU level guidance on MiFID II, UCITS, and AIF frameworks. https://www.esma.europa.eu
- European Commission - Investment funds - EU policy and regulatory guidance on funds and asset management. https://ec.europa.eu/info/business-economy-euro/banking-and-finance/investment-funds_en
6. Next Steps
- Define your asset strategy and fund objectives in writing. Include target investors, geography, and asset types.
- Inventory assets to be included in the fund and identify any cross border elements. Prepare a high level structure diagram.
- Identify a Florina based solicitor or attorney with funds and asset management experience. Request a brief initial consultation and a fee estimate.
- Obtain a written engagement letter outlining scope, deliverables, and timelines. Confirm regulatory responsibilities and expected regulator interactions.
- Draft core fund documents with your lawyer (prospectus or information memorandum, articles of association, management agreements, and risk disclosures).
- Prepare regulatory filings and compliance plans. Align with MiFID II requirements and UCITS or AIF frameworks as applicable.
- Submit the fund for regulatory authorization if required. Track status and respond promptly to any regulator requests.
- Establish ongoing governance and compliance procedures, including annual reporting, valuation, and investor disclosures.
- Set up a periodic review schedule to assess regulatory changes and adjust documents accordingly. Schedule annual audits or reviews as needed.
Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.