As a general rule of thumb, fund managers avoid domiciling in the EU. Currently, the EU has a complex web of expensive and inefficient regulations that need to be adhered to, burdening fund managers with audits, fees, high taxes, regulatory requirements, general solicitation penalties, and ESG rules, like this. Most managers choose Delaware as a domicile to limit the regulatory burden, and these regulations only apply to foreign funds in certain circumstances, which can be easily avoided by following the best practices for general solicitation.