Application for authorisation to market an alternative investment fund established in a third country in Denmark

Alternative investment fund managers intending to market an alternative investment fund established in a third country to professional investors in Denmark must apply for a license with the Danish FSA.

Alternative investment fund managers can apply for authorisation to market alternative investment funds established in a third country to professional investors in Denmark according to the Sections 109 and 130 of the Alternative Investment Fund Managers etc. Act and the Executive Order nr. 798 of 26 June 2014.

The Danish FSA has prepared an application form to be used in connection with marketing of a third country alternative investment fund in Denmark.

  • Download the application form here (fill-in-the-blanks pdf)

The application may be sent to finanstilsynet@ftnet.dk

Reporting

Alternative investment fund managers from a third country who market alternative investment funds in Denmark are subject to the reporting obligations under section 67 of the Alternative in-vestment Fund Managers etc. Act.

The frequency of reporting must be calculated in accordance with Article 110 of regulations no 231/2013 of December 2012.  The reporting periods end on the last business day of March, June, September and December of each year.

The alternative investment fund manager must submit the report to the Danish FSA no later than one month after the end of the reporting period.

For more information about the reporting obligation, please see ESMA’s guidelines on reporting obligations under Articles 3(3)(d) and 24(1), (2) and (4) of the AIFMD.

For technical guidance to fill out the reporting formula, please see AIFMD's technical guidance.

How to report

The alternative investment fund manager must report to the Danish FSA via The National Bank of Denmark and the Danish FSA’s joint reporting system.

The National Bank of Denmark’s reporting system, FIONA Online, is part of The National Bank of Denmark’s extranet (NEXT) and requires NemID business. Users who cannot obtain that, typically non-residents, can log on using a combination of codes received by text and email.

Log onto FIONA Online

You must be created as a user and receive a welcome email before you can access FIONA Online.

Create a user

FIONA Online is web-based. You can use it to report data, view reporting error lists and correct errors.

You can enter data directly, copy it from Excel or import an XML file in the format we have de-fined for each type of reporting. See the step-by-step guides:

Quick Guide (pdf)
Tips and Tricks (pdf)

You can also opt for an automated solution whereby an XML file is transferred directly from one system to the other, see

Download IAM Excel file

Download XSD file IAM

Download XML file example IAM

Download IAF1 Excel file

Download XSD file IAF1

Download XML file example IAF1

Download IAF2 Excel file

Download XSD file IAF2

Download XML file example IAF2

Download IAF3 Excel file

Download XSD file IAF3

Download XML file example IAF3

Fee

Alternative investment fund managers who market funds established in a third country in Denmark are subject to the fee in accordance with Chapter 22 of the Danish Financial Business Act.

A fund manager must pay the following:

  • An annual base fee of DKK 2.000 in 2004 prices for each alternative investment fund
  • An annual base fee of DKK 2.000 in 2004 prices for each compartment/sub-fund that is marketed in Denmark

The fees are adjusted on a yearly basis. For more information regarding the fees and current fee levels please refer to: