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22/11/2007 - Advantages of Malta as a fund domicile/fund jurisdiction

 

1. Single Passport (UCITS III)
Home Country Control – no need to seek a license in the host state
Establish distribution channels in other EU Member States
- Non EU Operators can gain access to the EU Market;
- EU Operators can domicile their business in Malta.

2. Back Office Administration Services
Services are cost competitive and these include fund administration, custody services, audit and legal services.

3. Geographic Position
At the centre of the Mediterranean Malta is a springboard to North Africa and the Middle East as well as being very close to the European mainland. Malta has an ideal climate and is also a safe place to live.

4. Flexible Regulatory Service
Attractive and flexible framework of legislation - Our experience has proved that foreign promoters want a regulator that is proactive and accessible. This is an advantage that Malta has over other financial jurisdictions.

5. Variety of Fund Structures
SICAVs, closed ended funds, unit trusts, master feeder funds and professional investor funds (PIFs). Seven day fast track approval process for PIFs.

6. Human Resources
A growing stock of professionals to meet the requirements of the industry in varied fields including legal, accountancy, and banking and finance.

7. Cost Competitive Centre
Including amongst others office space and human resources. A number of foreign financial institutions have already come to Malta. International Operators in the local market include Fidelity Investments, Raiffeisen Bank, UBS, Invest Kredit International, Lloyds TSB, Aberdeen, New Star, Erste Bank, HSBC, Bank of Ireland, Fortis Bank, and Aviva. Rothschild Asset Management are also present on the island through Insight Investment Management Limited, the asset management subsidiary of the Halifax Bank of Scotland.

8. Telecommunications
A strong telecommunications network.

9. Numerous double tax treaties
A corporate tax regime with a less than 5% effective corporate tax rate for foreign shareholding.

Please do not hesitate to contact James Muscat Azzopardi on jamesma@ma-advocates.com or Antonio Depasquale on adepasquale@ma-advocates.com for more information in this regard.

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