In the last few years, Cyprus has grown to be one of the fastest emerging fund markets in Europe. The passing of the Alternative Investment Fund Law of 2018 and the transposition of the UCITS IV Directive into domestic Law in 2012 have harmonized the local regulatory framework in line with the EU fund regulations, increasing the country’s competitive position and opening the market for the set-up, management and administration of Cyprus funds which can be marketed domestically and in the EU. With a market now built on strong legal foundations, the business environment is created for Fund managers, Custodians, and Fund Administrators to operate and with their significant contribution the Cyprus fund market shall continue developing.