Català | Castellano | 18/05/2012
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Riva y García Financial Group > Private Banking > SICAVs > Requirements of a SICAV  

Requirements of a SICAV

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  1. Share capital:
    • Minimum: 2,400,000 Euros.
    • Established with initial capital (subscribed and paid) and maximum statutory capital of up to 10 times the initial capital.
  2. Legal status:
    • Obligatory Public Limited Company status.
  3. Type of shares:
    • The shares are represented by accounting entries, and are quoted on the Stock Market or on an Alternative Market (MAB).
  4. Shareholders:
    • A minimum of 100 shareholders, to be reached before its registration at the CNMV (National Securities Market Commission).
    • They may be either individuals or legal entities.
    • They do not have preferential subscription rights.
  5. Investment of assets:
    • Minimum of 90% of assets invested in listed securities.
    • Minimum liquidity ratio of 3%.