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Funds and asset management in Moschato are part of the wider Greek and European financial services framework. Moschato is located in the Athens-Piraeus area, so most regulatory oversight, licensing and supervision are handled at national level. Typical local activity includes establishing or managing collective investment schemes, advising or managing portfolios for private or institutional clients, real estate funds, and investment vehicles that operate under Greek law and EU rules. Legal work in this area focuses on regulatory compliance, fund formation, licensing, contractual documentation, investor protection and tax and anti-money-laundering compliance.
You may need a lawyer when dealing with funds and asset management for several common reasons:
- Formation and structuring - choosing the right legal vehicle, drafting constitutional documents and investor agreements.
- Licensing and regulatory authorisations - applying for AIFM, UCITS management company, portfolio management or investment firm licences and responding to regulator queries.
- Cross-border marketing and passporting - navigating EU passport rules and national notification requirements.
- Contract drafting and negotiation - custody agreements, investment management agreements, distribution agreements and service-provider contracts.
- Compliance and governance - designing compliance frameworks, conflict-of-interest policies, depositary and custody arrangements, and recordkeeping systems.
- AML and KYC obligations - preparing AML policies, carrying out complex due diligence and reporting obligations.
- Tax planning and structuring - obtaining advice on tax treatment for funds, investors and underlying assets.
- Disputes and enforcement - defending regulatory investigations, representing clients in investor disputes or enforcement actions.
Although Moschato is a local community, rules for funds and asset management are set by Greek national law and European directives. Key aspects to keep in mind include:
- Regulatory supervision - the Hellenic Capital Market Commission is the primary regulator for collective investment schemes and asset managers. Other national bodies that affect the sector include the Bank of Greece and tax and anti-money-laundering authorities.
- Fund types - Greek law recognises a range of fund structures, including UCITS-style collective investment schemes, alternative investment funds, closed-end funds and specialised vehicles such as real estate investment companies. Each type is subject to different regulatory, governance and disclosure rules.
- Licensing and authorisation - entities that manage third-party capital generally need authorisation. Licence applications require a detailed business plan, governance documentation, evidence of fitness and propriety of key personnel, and proof of required initial capital.
- Governance and investor protection - managers must maintain policies on conflicts of interest, valuation, risk management, and provide prescribed disclosures to investors and regulators. Depositariy or custodian arrangements are often mandatory.
- Cross-border rules - EU directives provide passporting mechanisms for UCITS and authorised managers under AIFMD. Cross-border marketing requires notifications and compliance with home and host state rules.
- Anti-money-laundering and KYC - asset managers and related service providers are subject to customer due diligence obligations, ongoing monitoring and suspicious transaction reporting to national financial intelligence authorities.
- Tax and reporting - tax treatment varies by fund type, investor status and asset class. Reporting obligations include tax reporting, regulatory returns and, where applicable, international reporting standards such as FATCA and CRS.
- Dispute resolution - commercial courts and arbitration are commonly used for civil disputes; regulatory enforcement is handled by the national regulator with powers to fine, suspend or revoke licences.
You can set up several types of funds including mutual funds, UCITS-style investment funds, alternative investment funds, closed-end funds and specialised vehicles such as real estate investment companies. Each type has specific rules on investor eligibility, governance and disclosure, so choice depends on investors, investment strategy and regulatory preferences.
Yes. Managing third-party assets typically requires authorisation from the national regulator. The exact licence depends on the activity - portfolio management, collective management for funds, or acting as an investment firm. Licences impose capital, governance and reporting requirements.
Timeframes vary with the complexity of the application and regulator workload. Simple authorisations can take several months; more complex fund formations or cross-border operations can take longer. Preparing complete documentation and engaging advisers experienced with the regulator can shorten the process.
Yes, subject to EU passporting regimes for UCITS and authorised AIFs and the corresponding national notification rules. Foreign funds must satisfy home-state and host-state requirements and may need to appoint local representatives or service providers depending on the fund type and investor profile.
Protections include mandatory disclosure of fund objectives and risks, rules on valuation and periodic reporting, segregation of client assets through depositary or custody arrangements, conduct-of-business rules and conflict-of-interest policies. Regulators also supervise compliance and have enforcement powers.
Asset managers must carry out customer due diligence, verify ultimate beneficial owners, monitor transactions for suspicious activity, keep records for prescribed periods and make suspicious activity reports to the national financial intelligence unit. Firms must implement AML policies and staff training.
Tax treatment depends on fund structure, the residence of the fund and its investors and the types of assets held. Some vehicles receive favourable tax treatment, but there may be withholding taxes, VAT considerations for certain services and domestic tax reporting obligations. Always obtain local tax advice for your specific structure.
Engage a lawyer immediately. Preserve documents, halt any actions that might aggravate the situation and cooperate within legal advice. A lawyer can manage communications with the regulator, prepare responses, negotiate remedial measures and represent you in any administrative proceedings.
Look for firms or lawyers experienced in funds and financial regulation, with a track record on authorisations and compliance. Prefer professionals who understand Greek and EU rules, can communicate in your preferred language, and have relationships with local service providers such as depositaries, auditors and tax advisers.
Common requirements include a detailed business plan, prospectus or offering documents, governance and compliance manuals, AML policies, proof of initial capital, audited financial statements if applicable, identity and qualification documents for directors and key personnel, service agreements and custody arrangements.
The following types of organisations and authorities can provide authoritative information and practical assistance:
- The national financial regulator responsible for capital markets and fund supervision.
- The central bank for matters that overlap with banking or payment systems.
- The national tax and customs authority for tax rules and reporting obligations.
- The national financial intelligence unit for anti-money-laundering guidance.
- The General Commercial Registry for company filings and corporate records.
- Local bar associations for referrals to qualified funds and financial services lawyers in the Piraeus-Athens area.
- Industry associations and professional bodies that represent fund managers, custodians and service providers for market guidance and best practices.
If you need legal assistance with funds or asset management in Moschato, consider the following practical steps:
- Define the issue - clarify whether you need help with structuring, licensing, compliance, dispute resolution or tax planning.
- Gather basic documents - business plans, identification for principals, prior financials, any communications with regulators or investors and drafts of agreements.
- Arrange an initial consultation - contact a lawyer with relevant experience and ask about their experience with fund authorisations, regulatory interactions and local service provider networks.
- Discuss scope, fees and timeline - obtain an engagement letter that sets out deliverables, fees and an estimated timetable for key milestones.
- Prepare for diligence - work with your lawyer to build or update compliance programs, AML policies and documentation required for filings or negotiations.
- Maintain ongoing compliance - once established, budget for periodic reporting, audits, compliance reviews and regulatory updates to avoid enforcement risks.
Seeking early legal advice reduces delays, helps you choose the correct structure and keeps you aligned with regulatory obligations. Local counsel in the Moschato-Piraeus area can combine national regulatory knowledge with on-the-ground contacts to guide you efficiently.
