Malta Professional Investor Funds A Professional Investor Fund, commonly referred to as a PIF, is a type of collective investment scheme intended for particular categories of high net worth investors who are able to meet certain minimum investment requirements. The licensing and supervision of PIFs is carried out by the Malta Financial Services Authority (MFSA). […]
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Malta Investment Firms Client Classification and Categorisation When providing investment services (other than investment advice or portfolio management services), a Licence Holder is required to ask its client or potential client to provide information relating to his knowledge and experience in the investment field relevant to the specific type of product or service offered or
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VAT on Yachts in Malta The VAT on Yacht Leasing Regulations of January 2006, the VAT on Yachts rules in Malta, have made it possible to reduce the effective VAT payable on the purchase of Yachts to as low as 5.4% VAT and this by virtue of a Financial Leasing agreement made between a Malta Shipping Company acting
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Leap of Faith: Launching the First Maltese Unit Trust Maltese Unit Trust The Maltese funds industry is has just seen the launch of its first collective investment scheme structured as a unit trust. In this paper, the author examines some of the legal and regulatory challenges which the launch of this structures gave rise to,
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Setting up an Electronic Money (“e-money”) Institution in Malta Electronic money institutions are regulated by the Banking Act, 1994, (“the Act”). E-money institutions are defined as any person – other than a bank – which issues means of payment in the form of electronic money. Electronic money is the monetary value as represented by a
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Malta Trusts – Uses of Trusts under Maltese Trust Law The use of trusts The use of trusts by both legal as well as natural persons has gained popularity particularly in Malta, regardless of whether the trust is employed for commercial or private purposes. The Maltese Trust may be used indiscriminately for international or local
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Ship Management: Manning Manning Maltese ships are subject to the provisions of the Merchant Shipping Act (1973) and ancillary regulations concerning the competency of officers and seamen. International Conventions Malta is a member of: the International Maritime Organisation (IMO) The International Labour Organisation (ILO). Malta has ratified all the major maritime conventions including: SOLAS
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FOREX – Why Malta? The Malta FOREX solution is becoming an increasingly popular choice among businesses looking for a viable FOREX domicile. Malta as a Top FOREX domicile Why is this growth taking place? Firstly, the Malta FOREX domicile solution is popular for many of the same reasons that Malta is popular as a domicile
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Ship registration in Malta SHIP REGISTRATION UNDER THE MALTA FLAG Eligibility for Registration All types of vessels, from pleasure yachts to oil rigs may be registered, provided that, inter alia, they are wholly owned by Maltese citizens or Maltese Bodies Corporate. The formation of a Maltese company is a straight forward operation; there
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Trusts The setting up of trusts in Malta is regulated by the Trusts and Trustees Act. The Act provides for the creation of trusts and authorisation and supervision of trustees. In this regard, the MFSA is the competent authority for the purposes of the Act. The Act incorporates within its provisions the Hague Convention on
Malta Companies The Maltese Islands are a full EU member state since May 2004 and further to recent legislative changes, Malta Companies are EU compliant and EU approved. This renders the Maltese company an excellent vehicle for international business, investment and financial services. Malta by far provides the most advantageous environment for European onshore business and investment, providing a
Malta Back Office Operations Back Office Operations The Concept The Maltese authorities encourage the setting up of foreign operations that offer back office administration and support services to other foreign enterprises. Back office services include routine administrative and clerical service in relation to or in support of any type of business or professional activity. Qualifying
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Malta Family Business Act Setting the scene FAMILY BUSINESSES CONSTITUTE a significant section of many economies, making up 35 per cent of businesses in Switzerland, 80 per cent in Malta and 90 per cent in Turkey. In recent years Maltese legislation has emerged that focuses on supporting small businesses, such as the Small Business Act, but this
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Malta Taxation of Collective Investment Funds Taxation of Collective Investment Funds The Malta tax treatment of the income of investment funds hinges on the differentiation made by Maltese law between ‘Prescribed’ and ‘Non-Prescribed’ funds. In this paper the term ‘Funds’ refers to entities or arrangements which have been established to perform the function of a
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Malta Budget 2003 Registration Tax & Road Licence For Motor Driven Vehicles Racing cars Stated Aim: To regularize the position of motor racing enthusiasts. Measure: Reduction in Vehicle Registration Rate for specially equipped racing cars by 6.5% instead of the current rates of between 50.5% and 75%. Naturally, given that these specially equipped cars
