Looking to Distribute your AIF Cross-Border into Sweden? 5 Key Things to Note

Here are 5 key things to note:

1. To use the AIFMD private placement regime it may take 60-90 days for approval following receipt by the regulator of a complete application. Pre-marketing of the AIF is not possible while you wait for this approval.
2. However, to test investor appetite in advance of making an AIFMD marketing passport notification in Sweden, it is possible to do some pre-marketing (although an informal letter must be sent to home member state regulator within 2 weeks).
3. Non-EEA firms will likely need an intermediary to assist with active distribution activities as these types of activities most likely constitute a licensable activity. There is no third-country firm exemption or authorisation route.
4. It may be possible to rely on a reverse enquiry without triggering any firm licensing or fund notification/authorisation requirements but certain conditions must be satisfied.
5. In certain circumstances it may be possible to obtain authorisation for an AIF to be marketed/sold to retail investors and/or semi-professional investors.