Open a SICAV in Malta

If you are an international investor who wants to open a SICAV in Malta, you are invited to discuss all the formalities with one of our agents. You can also explore this article and learn more about the SICAV company in Malta, mentioning that you can collaborate with our Maltese company formation experts.

What is a SICAV in Malta?

• SICAV stands for “Société d’Investissement à Capital Variable” (Investment Company with Variable Capital),
• SICAV is a popular type of open-ended investment fund in Europe.

NOTE: A SICAV can be established as:

• Professional Investor Fund – PIF,
• Alternative Investment Fund – AIF,
• Undertakings for Collective Investment in Transferable Securities – UCITS.

What are the main features of SICAV?

• Great options for managing sub-funds,
• Available for public trade,
• Optimal for a diversified business portfolio,
• Can be registered as a SICAV company in Malta, etc.

Who approves SICAVs in Malta?

Malta Financial Services Authority – MFSA.

Where do I register a SICAV in Malta?

At the Malta Business Registry – MBR.

What is the optimal business entity for opening a SICAV?

The limited liability company, with EUR 1,165 as minimum capital.

NOTES:

• UCITS management companies require EUR 125,000 as initial capital (a self-managed UCITS SICAV requires EUR 300,000),
• Self-managed AIFs require EUR 300,000 as initial capital for a SICAV.

What are the conditions for opening a SICAV in Malta?

There are 3 stages to consider:

• the preparatory stage,
• pre-licensing stage,
• post-approval/licensing stage,

Here is what you need to know:

• a licensed manager is required when opening a SICAV in Malta,
• investors must determine the functions of the SICAV,
• the Articles & Memorandum of Association form the basis for registering a SICAV in Malta,
• a detailed business plan is also required,
• obtaining the required license to open a SICAV in Malta is mandatory.

IMPORTANT:

• if all documents are accepted by MFSA, an “In-Principle Approval” is issued,
• the Collective Investment Scheme license is issued after the final approval from MFSA.

What is the key management/officers involved in a SICAV in Malta?

• Licensed manager,
• Fund administrator,
• Board of directors,
• Custodian,
• Auditor,
• AML Compliance Officer, etc.

What are the main responsibilities of SICAV directors in Malta?

Directors must prepare:

• separate documentation for managed sub-funds (statements, accounts, records, etc.),
• SICAV and sub-fund documents with detailed information on the assets and liabilities.

What is the key advantage of a SICAV in Malta?

The main advantage of Maltese SICAV companies, as umbrella entities, is that the assets and the liabilities of each sub-fund are separated from each other; thus, sub-funds can be treated as patrimony.

Are you interested in more details about how to open a SICAV in Malta? You may contact our specialists in company formation in Malta and explore our tailored services.