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Institutional collective alternative investment undertakings with a variable number of participation rights

The institutional collective alternative investment undertakings with a variable number of participation rights (OPCA in French) have as their sole purpose the collective investment of financial instruments and cash.

Whether it concerns mutual funds or investment companies with variable capital (SICAV/open-ended investment companies), only professional or institutional investors are authorised to invest in an institutional collective alternative investment undertakings with a variable number of participation rights.

These undertakings must request their registration as well as the registration of any compartment they create on the list managed by the FPS Finance.  The institutional collective alternative investment undertakings with a variable number of participation rights can only carry out their activities once they have received confirmation of this registration.

Registration on the list maintained by the FPS Finance is accompanied by a special tax regime (see notably Article 185bis of the Income Tax Code 92).

 CONSUlt the list of collective investment undertaking  (PDF, 199.55 KB) 

Warning: the collective investment undertakings struck off before the launch of the new module OPC in MyMinfin (31.07.2022) can only be consulted through the following list.


New procedure for registering, changing or striking off a collective investment undertaking on MyMinfin

Pursuant to Articles 3 and 4/2 of the Royal Decree of December 7th 2007 as regards their institutional collective alternative investment undertakings with a variable number of participation rights which have for sole objective the collective investment in the authorised investment category in Article 183, paragraph 1, 1°, of the law of 19 April 2014, the applicant company must apply for registration with the FPS Finance via the OPC module on MyMinfin.

The General Administration of the Treasury of the FPS Finance has 30 calendar days following the day on which the request for registration was validly made or following the day on which the file was completed, in order to confirm registration on the list of institutional collective alternative investment undertakings with a variable number of participation rights, pursuant to Article 4, § 2 of the Royal Decree of December 7th 2007. 

If the file is incomplete or if additional information is required to finalise registration, the FPS Finance may request the missing information or documents from the applicant company.

COnsult the new registration procedure  Access to MYMINFIN (THIS HYPERLINK OPENS A NEW WINDOW)


Control procedure

Pursuant to Article 291 of the law of April 19th 2014 on alternative collective investment undertakings and their managers, introduced by the law of May 2nd 2019, the FPS Finance is in charge to control the observance by the institutional collective alternative investment undertakings with a variable number of participation rights of the provisions of the law of April 19th 2014 and the Royal Decree of November 9th 2016.

The institutional collective alternative investment undertakings with a variable number of participation rights should transmit on request of the FPS Finance every information and document on their organisation, their functioning and their operations, including the type of investment made, necessary for control purposes by the FPS Finance.

'Pictogram uitroepteken'When the General Administration of Treasury finds that it is not complying with the legal and regulatory provisions applicable to it, a formal notice, stating the reasons, is sent to the institutional collective alternative investment undertaking with a variable number of participation rights concerned, in order to remedy any shortcomings identified.

If the institutional collective alternative investment undertaking with a variable number of participation rights has not remedied the shortcomings identified within 30 calendar days of notification of the formal notice, the FPS Finance strikes the institutional collective alternative investment undertaking with a variable number of participation rights off the applicable list pursuant to Article 6 of the Royal Decree of December 7th 2007

Removal from the list means that the company concerned loses the benefit of the tax regime applicable to the institutional collective alternative investment undertakings with a variable number of participation rights.


Legal and regulatory basis

Law of April 19th 2014 as regards the institutional collective alternative investment undertakings with a variable number of participation rights and their managers.

Royal Decree of 7 December 2007 as regards institutional collective alternative investment undertakings with a variable number of participation rights having as sole objective the collective investment in the authorised investment category mentioned in Article 183, paragraph 1, 1°, of the law of 19 April 2014.


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A question as regards the collective investment undertakings? Do you meet problems with the process? Many user manuals and FAQs are available to help you.

If you haven't found the solution to your problem, you can also contact us via registration.treasury@minfin.fed.be

 COnsult our support materials