Malta Recognised Private CIS

GDP GROWTH: 6.3% in 2015 TIME ZONE: Central European Time Zone (UTC+01.00) MALTA FUNDS: 580+ investment funds - combined NAV €9.7 billion LEGISTALTION: Fully compliant with EU directives & regulations FUND DOMICILE RECOGNITION: Rated no.1 Europe's favoured fund domicile (Hedge Funds Review's 2013 & 2014 Service Provider Rankings) SIZE OF INDUSTRY: 25% Annual Growth REGULATOR: Flexible & approachable FINANCIAL SERVICES FRAMEWORK: EU & OECD Approved

• No licence required;
• No borrowing restrictions;
• No investment restrictions;
• No minimum Investment Amount;

Private Collective Investment Schemes are regulated under the Investment Services Act, 1994. The status of ‘Private Collective Investment Scheme’ is granted by the MFSA once the scheme fully satisfies the requirements and criteria relating to its nature and purpose.

• Reporting requirements;
• A limit of 15 participants;
• Fit & Proper Management and Shareholding;
• Exemption from obtaining a Collective Investment Scheme licence;