Marketing in Norway where the AIF or the AIFM is established in a third country

Marketing in Norway of AIFs established in a third country (AIFM Act section 6‑4)

AIFMs authorised in Norway or another EEA state that manage AIFs established outside the EEA must apply for authorisation to market such funds in Norway to professional investors, cf. section 6‑4 of the AIFM Act. This also applies where the AIF is established in an EEA state but operates as a feeder fund to an AIF established outside the EEA.

One of the conditions for granting marketing authorisation is that appropriate cooperation arrangements are in place between the supervisory authorities of the AIF’s home state and Norway. An overview of the cooperation agreements entered into by Finanstilsynet is published on ESMA’s website:

• AIFMD MoUs signed by the EU authorities (xlsx) 

Application form for EEA AIFMs to market shares or units of non-EEA AIFs to professional investors in Norway pursuant to section 6-4 of the AIFM Act (AIFMD article 36).

• NAMAIF Section 6-4 application form (docx)

AIFMs applying for a marketing authorisation pursuant to the AIFM Act section 6-4 will be charged a processing fee. The marketing application will be processed once the fee has been paid. For more information, see cross-border activities.

Applications, notifications of material changes to information already provided, and notifications of cessation of marketing must be submitted electronically to post@finanstilsynet.no.

Marketing in Norway of AIFs managed by third‑country AIFMs (AIFM Act section 6‑5)

AIFMs established outside the EEA that intend to market AIFs to professional investors in Norway must apply for authorisation to market the fund pursuant to section 6‑5 of the AIFM Act.

One of the conditions for granting marketing authorisation is that cooperation arrangements are in place between the supervisory authorities of the AIF’s home state, the AIFM’s home state and Norway. An overview of the cooperation agreements entered into by Finanstilsynet is published on ESMA’s website:

• AIFMD MoUs signed by the EU authorities (xlsx) 

Application form for non-EEA AIFMs to market shares or units of AIFs in Norway pursuant to section 6-5 of the AIFM Act (AIFMD article 42)

• NAMAIF Section 6-5 application form - English only (docx) 

AIFMs applying for a marketing authorisation pursuant to the AIFM Act section 6-5 will be charged a processing fee. The marketing application will be processed once the fee has been paid. For more information, see cross-border activities.

There are reporting obligations when marketing a fund pursuant to the Norwegian private placement regime (Annex IV-reporting).

If a non-EEA AIFM intends to cease the marketing and deregister an AIF that has been marketed under the private placement regime, it must inform Finanstilsynet whether there are any Norwegian investors invested in the AIF. If there are Norwegian investors invested in the AIF, the AIF cannot be deregistered from Finanstilsynet's registry. Any cessation notice will not be considered complete until the non-EEA AIFM has confirmed that there are no Norwegian investors remaining in the AIF and a final Annex IV reporting has been submitted.

Applications, notifications of material changes and notifications of cessation of marketing must be submitted electronically to post@finanstilsynet.no.