The UCITS Directive was established to harmonise retail collective investment schemes in the EU through the introduction of a common investment vehicle known as a “UCITS”. One of the key benefits of the UCITS Directive is that UCITS can be established and regulated in one EU member state and offered in others without the need for further authorisation by virtue of passporting rights under the UCITS Directive.
The purpose of this guide is to assist UCITS managers to understand the process and regulatory costs involved in exercising such passporting rights throughout Europe.
We are grateful to the numerous contributors to this guide. If you would like more information about passporting within the UCITS framework, you are welcome to get in touch with us or – with regard to particular jurisdictions – the contacts of the relevant contributor firms.
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- Austria
- Belgium
- Bulgaria
- Croatia
- Cyprus
- Czech Republic
- Denmark
- Estonia
- Finland
- France
- Germany
- Greece
- Hong Kong
- Hungary
- Ireland
- Italy
- Latvia
- Liechtenstein
- Lithuania
- Luxembourg
- Malta
- Mauritius
- Netherlands
- Norway
- Poland
- Portugal
- Romania
- Singapore
- Slovakia
- Slovenia
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- Sweden
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- United Arab Emirates (excluding the DIFC and ADGM)
- United Kingdom
- Select a jurisdiction
- Summary table
- Definitions
- Austria
- Belgium
- Bulgaria
- Croatia
- Cyprus
- Czech Republic
- Denmark
- Estonia
- Finland
- France
- Germany
- Greece
- Hong Kong
- Hungary
- Ireland
- Italy
- Latvia
- Liechtenstein
- Lithuania
- Luxembourg
- Malta
- Mauritius
- Netherlands
- Norway
- Poland
- Portugal
- Romania
- Singapore
- Slovakia
- Slovenia
- Spain
- Sweden
- Switzerland
- United Arab Emirates (excluding the DIFC and ADGM)
- United Kingdom
Last updated · 30 Dec 2025
The purpose of this guide is to provide a broad overview of the key elements of passporting regulations applicable to UCITS Schemes in the countries covered in this guide. The guide makes no claims as to completeness and does not constitute legal advice. In the case of non-UCITS based in Non-EEA (third country) jurisdictions wishing to market their funds in the EEA, you are referred to our “CMS Guide to Private Placement of Funds”. Entities marketing a passported EEA UCITS Schemes may additionally need to comply with licence requirements and these requirements are not covered in the guide. The information contained herein is no substitute for specific legal advice. If you have any queries regarding the issues raised or other legal topics, please get in touch with your usual contact or persons mentioned in this guide.
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