Alternative Investing - Mabhenefiti eMaltese Hedge Funds

  • Publication 13 June 2022

  • | Reference IN834

Key Data Pamusoro peMalta

  • Malta yakava nhengo yeEU muna Chivabvu 2004 uye yakabatana neEuro Zone muna 2008.
  • Chirungu chinotaurwa uye chinonyorwa zvakanyanya muMalta uye ndiwo mutauro mukuru webhizinesi.

Zvinhu Zvinobatsira kuMalta's Competitive Advantage

  • Yakasimba yemutemo uye inotonga nharaunda ine bumbiro remutemo rinoenderana neEU Directives. Malta inosanganisa ese ari maviri masisitimu ekutonga: mutemo wevagari uye mutemo wakajairwa, semutemo webhizinesi wakavakirwa pamitemo yemutemo weChirungu.
  • Malta inozvitutumadza mwero wepamusoro wedzidzo nevakapedza kudzidza vanomiririra chikamu-chikamu cheakasiyana siyana ane chekuita nemabasa emari. Kudzidziswa kwakananga mumasevhisi emari kunopihwa pamatanho akasiyana epashure-secondary uye tertiary. Basa reakaunzi rakasimbiswa pachitsuwa. Maaccountant vangave vakapedza kudzidza kuyunivhesiti kana vane certified accountant qualification (ACA/ACCA).
  • A proactive regulator iyo inotaurika zvakanyanya uye ine bhizinesi pfungwa.
  • Kugara kuri kuramba kuchikura kwepamusoro-soro nzvimbo yehofisi yekurenda pamitengo yakachipa kupfuura muWestern Europe.
  • Kusimukira kweMalta senzvimbo yezvemari yepasi rose inoratidzwa muhuwandu hwemabasa emari aripo. Kuzadzisa mabasa echinyakare ezvitoro, mabhanga ari kuwedzera kupa; yakavanzika uye yekubhengi yekudyara, mari yepurojekiti, zvikwereti zvakabatanidzwa, hupfumi, kuchengetedza, uye masevhisi edhipoziti. Malta zvakare inobata masangano akati wandei anoshanda muzvigadzirwa zvine chekuita nekutengeserana, senge yakarongeka yekutengesa mari, uye factoring.
  • Nguva yakajairwa yeMaltese iri awa imwe pamberi peGreenwich Mean Time (GMT) uye maawa matanhatu pamberi peUS Eastern Standard Time (EST). Bhizinesi repasi rese saka rinogona kufambiswa zvakanaka.
  • International Financial Reporting Standards, sekugamuchirwa neEU, yakadzika midzi mumutemo wekambani uye inoshanda kubvira 1997, saka hapana zvemuno GAAP zvinodiwa kubata nazvo.
  • Iyo inokwikwidza zvakanyanya mutero kutonga, zvakare kune vari kunze kwenyika, uye yakakura uye inokura mbiri yemutero chibvumirano network.
  • Hapana zvirambidzo pakupihwa kwemvumo dzekushanda kune vasiri veEU.

Malta Hedge Funds: Professional Investor Funds (PIF)

Mutemo weMaltese hautauri zvakananga kune hedge funds. Nekudaro, Malta hedge funds inopihwa rezinesi seProfessional Investor Funds (PIFs), chirongwa chekudyara chakaungana. Hedge funds muMalta inowanzomisikidzwa semakambani akavhurika kana akavharika ekudyara (SICAV kana INVCO).

Hurumende yeMalta Professional Investor Funds (PIFs) ine zvikamu zvitatu: (a) avo vanosimudzirwa kuva Vanokodzera Vanoisa mari, (b) avo vanokwidziridzwa kuva Extraordinary Investors, uye (c) avo vanosimudzirwa kuva Vane ruzivo Investors.

Mamwe mamiriro ezvinhu anoda kugutsikana kuti akwanise pasi peimwe yeaya mapoka matatu uye nekudaro kukwanisa kuisa mari muPIF. PIFs zvirongwa zvekudyara zvakabatana zvakagadzirirwa nyanzvi uye yakakwirira-net-yakakosha vatengesi vane imwe dhigirii yehunyanzvi uye ruzivo mune yavo zvigaro.

Tsanangudzo yeAnokodzera Investor

A "Qualifying Investor" ndiye investor anozadzisa zvinotevera maitiro:

  1. Inoisa mari shoma yeEUR 100,000 kana mari yayo yakaenzana muPIF. Mari iyi haigone kudzikiswa pasi peiyi mari shoma panguva ipi neipi nenzira yekudzikinura zvishoma; uye
  2. Inozivisa nekunyora kune homwe maneja nePIF iyo yakati investor anoziva, uye inobvuma njodzi dzine chekuita nekudyara kwakarongwa; uye
  3. Inogutsa chimwe chezvinotevera:
  • Kambani ine mambure emidziyo inodarika EUR 750,000 kana chikamu cheboka rine mambure emidziyo inodarika EUR 750,000 kana, mune yega yega, mari inoenzana nazvo; or
  • Boka risina mubatanidzwa revanhu kana masangano ane mambure emidziyo inodarika EUR 750,000 kana mari yakaenzana; or
  • Kuvimba uko ukoshi hwezvinhu zvetrust inodarika EUR 750,000 kana mari yakaenzana; or
  • Munhu ane mambure akakosha kana mambure akabatanidzwa akasanganiswa newaakaroorana naye anopfuura EUR 750,000 kana mari yakaenzana; or
  • Mushandi mukuru kana dhairekita wemupi webasa kuPIF.

Chii chinonzi Malta PIFs Chinoshandiswa uye Ndeapi Mabhenefiti Avo?

PIFs dzinowanzo shandiswa kune hedge fund zvimiro zvine midziyo yepasi kubva kune inotakurika security, yakavanzika equity, isinga fambisike zvivakwa, uye zvivakwa. Ivo zvakare vanowanzoshandiswa nemari inobata mukutengesa kwecryptocurrency.

PIFs inopa akawanda mabhenefiti, anosanganisira:

  • PIFs dzakagadzirirwa nyanzvi kana yepamusoro-soro vatengesi uye haina izvo zvinorambidzwa zvinowanzoiswa pamari dzekutengesa.
  • Iko hakuna mari kana zvirambidzo zvekuwedzera uye maPIF anogona kusetwa kuti abate chinhu chimwe chete.
  • Hapana chinodiwa kugadza Custodian.
  • Sarudzo yerezenisi yekukurumidza inowanika, nemvumo mukati memwedzi 2-3.
  • Inogona kuzvidzora.
  • Inogona kugadza vatariri, mamaneja, kana vanopa masevhisi mune chero nzvimbo dzinozivikanwa, nhengo dzeEU, EEA, uye OECD.
  • Inogona kushandiswa kugadzira mari chaiyo yemari.

Pane zvakare mukana wekugadzirisa zvakare mari yehedge iripo kubva kune dzimwe nzvimbo kuenda kuMalta. Nenzira iyi, kuenderera mberi kwehomwe, mari, uye zvirongwa zvekondirakiti zvinoenderera mberi.

Malta Alternative Investment Funds (AIF)

AIFs imari yekudyara pamwe chete inosimudza mari kubva kune vanoisa mari uye ine yakatsanangurwa nzira yekudyara. Ivo havadi mvumo pasi peZvibvumirano zveCollective Investment in Transferable Securities (UCITS) hurumende.  

The ichangoburwa transposition of Alternative Investment Fund Directive (AIFMD), kuburikidza nokugadziridzwa Investment Services Act uye Investment Services Mitemo uye kuunzwa subsidiary mutemo kwakagadzira hwaro nokuda utariri uye kushambadzira asiri UCITS mari muMalta.

Chiyero cheAIFMD chakakura uye chinovhara manejimendi, manejimendi, uye kushambadzira kweAIFs. Nekudaro, iyo inonyanya kuvharira mvumo, mamiriro ekushanda, uye pachena zvisungo zveAIFM uye manejimendi uye kushambadzira kweAIFs kune vatengesi vane hunyanzvi muEU yese pamuchinjiko. Aya marudzi emari anosanganisira hedge funds, private equity funds, real estate funds, uye venture capital funds.

Iyo AIFMD framework inopa yakareruka kana de minimis hutongi hwediki maAIFM. De minimis AIFMs vatungamiriri avo, vangave zvakananga kana zvisina kunanga, vanobata mapotifolio eAIFs ane midziyo iri pasi pemaneja pamwe isingapfuure huwandu hunotevera:

1) € 100 mamiriyoni; or

2) € 500 miriyoni yeAIFMs inongobata isina kuvharwa maAIFs, isina kodzero dzekudzikinura dzinowanikwa mukati memakore mashanu kubva pakudyara kwekutanga muAIF yega yega.

A de minimis AIFM haigoni kushandisa EU passporting kodzero inobva kuhurumende yeAIFMD.

Nekudaro, chero AIFM ine midziyo iri pasi pemanejimendi inowira pasi pezvikumbaridzo zviri pamusoro, inogona kuramba ichipinda muhurongwa hweAIFMD. Izvi zvaizoita kuti zvienderane nezvisungo zvese zvinoshanda kune yakazara-scope maAIFM uye kuita kuti ishandise EU mapasipoti ekodzero anobva kuAIFMD.

Zvimwe Information

Kana iwe uchida chero rumwe ruzivo nezve maPIF uye maAIF muMalta, ndapota taura kune Jonathan Vassallo: advice.malta@dixcart.com, kuDixcart hofisi kuMalta kana kune waunogara uchisangana naye Dixcart.

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