Malta – A European Fund Jurisdiction2011<br />Muscat Azzopardi and Associates, Advocates<br />
Malta – a general overview<br />An EU Member State since 2004;<br />Highly reputable financial services centre;<br />Singl...
Why set up a fund in Malta? <br />A flexible yet robust regulator – highly accessible;<br />Very quick time to market – ar...
Comparison with Luxembourg and Dublin – Qualifying PIF<br />
Malta’s Regulatory Framework<br />1. Professional Investor Funds (PIFs)<br />2. UCITS IV compliant Retail Funds<br />
Professional Investor Funds<br />Suitable vehicles for Fund Promoters wishing to set up Hedge Funds, Private Equity Funds,...
Professional Investor Funds<br />
PIF features at a glance<br />
UCITS IV funds<br />Malta has already implemented legislation to implement UVITS IV measures. These include;<br />Introduc...
Services offered by MA&A<br /><ul><li>Due diligence exercise
Assistance with submission forms
Upcoming SlideShare
Loading in …5
×

Malta A European Fund Jurisdiction 2009

1,016 views

Published on

A presentation about setting up investment funds

Published in: Economy & Finance, Business
0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
1,016
On SlideShare
0
From Embeds
0
Number of Embeds
11
Actions
Shares
0
Downloads
0
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide

Malta A European Fund Jurisdiction 2009

  1. 1. Malta – A European Fund Jurisdiction2011<br />Muscat Azzopardi and Associates, Advocates<br />
  2. 2. Malta – a general overview<br />An EU Member State since 2004;<br />Highly reputable financial services centre;<br />Single regulator for Banking, Securities and Insurance– highly accessible and pro-business;<br />Service-driven environment;<br />Relatively low overall costs;<br />Multilingual and professional work-force – an English speaking country with professionals usually speaking four languages;<br />Ideal for UCITS IV schemes as well as non-retail funds;<br />The most competitive tax structure within the EU, yet fully OECD compliant and not a tax haven;<br />An excellent network of double taxation agreements.<br />
  3. 3. Why set up a fund in Malta? <br />A flexible yet robust regulator – highly accessible;<br />Very quick time to market – around four weeks, with an “in-principal approval” for Professional Investor Funds (PIFs) within a maximum of seven days;<br />NO income tax, capital gains or withholding tax as long as assets not based in Malta;<br />A very cost-competitive jurisdiction – relatively low set up and administration fees;<br />Quickly becoming a hub for managers and administrators – tax and licensing advantages;<br />Clear legislative structure;<br />Possibility of self-managed schemes;<br />Asset Manager need not be based in Malta;<br />Custodian of a PIF may also be based elsewhere.<br />
  4. 4. Comparison with Luxembourg and Dublin – Qualifying PIF<br />
  5. 5. Malta’s Regulatory Framework<br />1. Professional Investor Funds (PIFs)<br />2. UCITS IV compliant Retail Funds<br />
  6. 6. Professional Investor Funds<br />Suitable vehicles for Fund Promoters wishing to set up Hedge Funds, Private Equity Funds, Funds of Hedge Funds, Venture Capital Funds, Investment Property Funds;<br />Three classes of PIF’s aimed at various investor profiles ranging from quasi-retail to institutional investors;<br />Funds may be set up as a SICAV, a limited partnership, contractual fund or a unit trust; <br />
  7. 7. Professional Investor Funds<br />
  8. 8. PIF features at a glance<br />
  9. 9. UCITS IV funds<br />Malta has already implemented legislation to implement UVITS IV measures. These include;<br />Introduction of a full EU passport for UCITS Managers<br />Quicker and simplified passporting for UCITS schemes<br />Possibility of cross-border merger of UCITS schemes<br />Possibility of Master-Feeder UCITS structures<br />Simplified information for investors – introduction of Key Investor Information Document<br />
  10. 10. Services offered by MA&A<br /><ul><li>Due diligence exercise
  11. 11. Assistance with submission forms
  12. 12. Fund license application (with MFSA)
  13. 13. All meetings with MFSA as required
  14. 14. Drafting of Memorandum & Articles
  15. 15. Registration of Fund Company
  16. 16. Drafting of the Fund Offering document
  17. 17. Setting up of the fund's administration
  18. 18. Provision of the local registered office
  19. 19. Submission of all the regulatory documentation</li></li></ul><li>Muscat Azzopardi and Associates, Advocates<br />Offices:<br />35, 40, Villa Fairholme<br />Zachary Street, Sir Augustus Bartolo Street<br /> Valletta, Malta Ta’ Xbiex, Malta<br />Tel: +356 21336195 / +356 21 336196<br />Fax: +356 21 336027<br />Mail: mail@ma-advocates.com<br />Web: www.ma-advocates.com<br />Contact: Dr. James Muscat Azzopardi<br />Mail: jamesma@ma-advocates.com<br />Mobile: +356 9945 7373<br />

×