The Introduction of Directive 2011/61/EU on Alternative Investment Fund Managers (AIFM Directive) aimed at creating a single, barrier-free marketplace for alternative investment funds in Europe. In Cyprus the AIFMD Directive was transposed into domestic law through Law 56(1)/2013 which harmonized the local regulatory framework in line with the EU fund regulations, increasing the country’s competitive position and opening the market for the setup of Cyprus funds which can be marketed domestically and in the EU. In this seminar, we will primarily examine the basic provisions of the AIFM Directive and their practical application for AIF Managers.