Those who want to open a SICAV in Malta are invited to discuss all the formalities with one of our agents. Knowing this investment vehicle, you can understand what it entails and how it is registered. We, therefore, invite you to learn more about the SICAV company in Malta and to collaborate with our Maltese company formation representatives.
| Quick Facts | |
|---|---|
| What is a SICAV fund? | SICAV stands for Société d’Investissement à Capital Variable (Investment Company with Variable Capital), and it is a popular type of open-ended investment fund in Europe. |
Legislation | – Companies Act (Investment Companies with Variable Share Capital), – SICAV Regulations in Malta, Investment Services Act |
Characteristics of SICAV | – can manage sub-funds, – can be a great option for a diversified portfolio, – is available to the public to trade, etc. |
| Similarities of SICAV | With the open-ended mutual funds in the USA |
| Incorporation | As public companies in Malta |
| Registration is done with | Maltese Company Registry |
| Documents for forming SICAV in Malta | Memorandum and Articles of Association |
| Management | Managed by a professional investment company or licensed manager |
| Authority | Malta Financial Services Authority (MFSA) |
| Permissions | SICAV can have separate assets and liabilities for each of its sub-funds. |
| A SICAV in Malta can also be established as | Recognized Incorporated Cell Company (RICC) |
| Reporting obligations (YES/NO) | YES |
| Separate documents to be maintained | – accounts, – records, – statements for each sub-fund |
| Disclosure of shareholders | Not available for public access |
| Working with our Maltese agents | We offer assistance in establishing an SICAV fund in Malta by managing the incorporation procedures. |
Table of Contents
SICAV definition
SICAV is known as a collective investment scheme most common in Western Europe and is also known as a corporate variable capital fund. SICAV in Malta is established, in general, as an open-ended investment fund in Malta. Here is other information about SICAV in Malta:
- SICAV in Malta may be called an umbrella fund that can have a partition of liabilities and assets of its sub-funds.
- SICAV in Malta has clear and determined functions. Considering these aspects, setting up a SICAV in Malta is done for collective investments of funds where immovable or movable properties might be involved.
- Shareholders of SICAV in Malta can manage the implicated funds.
- Flexibility is offered by a SICAV in Malta.
The main features of SICAV in Malta
If you want to set up a company in Malta and you are interested in SICAV, it would be good to get an idea about the main features:
- Investment companies with variable share capital, also known as open-ended schemes or SICAV companies.
- Opening a SICAV company in Malta is based on a Memorandum and Articles of Association.
- Also, when setting up a SICAV in Malta, a series of distribution schemes and regulations are taken into account to isolate the group of investors, depending on the targets of the investments made.
- The Maltese Companies Registry accepts documents for SICAVs in Malta. The information contained can be accessed by the public.
- What is not disclosed to the public is the shareholders of a SICAV in Malta.
- The Investment Services Act is the main regulatory framework for investment companies in Malta.
The Maltese Companies Law restricts the object of activity of SICAV companies to the collective investment of their funds in securities and movable and immovable property. If taken into consideration the Malta Financial Services Authority’s flexibility regarding Professional Investor Funds (PIFs), the SICAV company becomes a very attractive vehicle providing numerous investment possibilities.
We invite you to contact our team for more information on how to set up a SICAV in Malta. We are here to tell you more about how to open a company in Malta.
How to open a SICAV company in Malta
Both private and public Maltese companies can be registered as SICAV companies. However, private SICAV companies are restricted to a maximum number of 50 shareholders in Malta. The Maltese legislation also allows SICAV companies to be registered as ‘umbrella’ companies which include sub-funds. The main advantage of Maltese SICAV companies, as umbrella companies, is that the assets and the liabilities of each sub-fund are separated from each other, thus sub-funds can be treated as patrimony.
Responsibilities of directors of SICAV in Malta
Company incorporation in Malta implies certain responsibilities on the part of the directors, and here SICAV company in Malta is no exception. Here are some of the main tasks of SICAV directors in Malta:
- Managed sub-funds must have separate documentation. This is where statements, accounts, records, and many more come into question.
- The documents of the SICAV and its sub-funds must describe in detail the assets and liabilities, which the appointed directors are in charge of.
Some statistical data about Maltese investments
If you want to set up a SICAV in Malta, it is good to know the investment climate in this country, and the following figures may be useful:
- The stock position of FDI in Malta stood at around EUR 477.9 billion, at the end of June 2023
- FDI flows in Malta and abroad have gone up approximately by EUR 9.9 billion, and by around EUR 10 billion, respectively, for the first 6 months of 2023.
All SICAV companies in Malta are required to have a registered office and a company secretary. For company formation in Malta, please contact our local agents and ask for assistance.