Only residents in Spain or NIE holders who accomplish following rules are authorized to invest in ArtsGain Funds:
Professional clients per se (article 205 TRLMV) that may sell the shares of the Funds. ARTSGAIN will check professional accrediation and will verify that the investor meets the requirements established in article 58 of RD 217/2008, which in the case of companies must meet at least two of the following three conditions: company assets value greater than €20M, annual turnover exceeding €40M or company resources exceeding € 2M; further understanding that it is not necessary for the client to have any connection with the art business.
Retail clients: in accordance with articles 75.1, 75.2 and 75.3, the shares of the Funds cannot be sold to retail market, although clients may subscribe it if they commit to invest at least € 100,000 and declare in writing that they are aware of the risks they are taken.
Retail clients who request their treatment as a professional clients (article 206 TRLMV): it must be requested by the client himself and ARTSGAIN have to evaluate if the investor meets at least two of the three requirements established in article 59 of RD 217/2008 (significant volumes of investment, investment portfolio over € 500,000 or recognized position in the arts industry), related these 3 requirements to arts market. If requirement is met, investment could be lower than €100,000.