Collective investment schemes in Malta may be registered as UCITS (Undertaking for Collective Investments in Transferable Securities) under the European UCITS Directive. UCITS funds are recognized globally and may operate in all EU countries by obtaining a license in a member state. Malta, through its flexible legislation, allows UCITS funds to be established as SICAV companies, partnerships, or unit trusts.
What are the corporate requirements for UCITS funds in Malta?
Like any other Maltese company, an UCITS fund must also comply with corporate governance requirements. Before incorporating the Maltese investment company, the scheme is required to have a head office and a registered office. Both head and registered offices must be located in Malta.
The UCITS fund is also required to have at least two directors, an independent manager and a custodian. According to the Maltese Companies Law, self-managed UCITS funds are required to have at least one resident director. The custodian will be in charge with the safekeeping of Maltese UCITS’ assets and must be established in Malta. Custodians of UCITS funds must be licensed by the Malta Financial Services Authority. UCITS funds may also appoint non-resident administrators. Other corporate requirements for UCITS funds in Malta include a compliance officer and an anti-money laundering reporting officer.
Our agents in Malta may provide accounting services for UCITS funds requiring audit services.
What are the licensing requirements for UCITS funds in Malta?
Whether established as SICAV companies or Maltese trusts, UCITS investment schemes must submit the following documents when being registered:
- – the Memorandum and Articles of Association,
- – a prospectus and the Key Investor Information Document (KIID),
- – a description of the services to be provided,
- – the fund’s service providers’ consent,
- – the directors’ curriculum vitae,
- – a three years business plan and a marketing plan.
UCITS funds, registered as SICAV companies, are required to have a 125,000 euros capital, if managed by third parties, while self-managed UCITS funds are required to have a 300,000 euros capital.
For complete information about setting up an UCITS fund or any other type of investment company, please contact our company incorporation agents in Malta.