Misiyano Yemutemo Pakati PeMota Zviviri Zvikuru Dzinofarirwa Homwe muMalta: SICAVs (Sociétés d'Investissement à Capital Variable) uye INVCOs (kambani yekudyara ine mari yakaganhurwa).

  • Publication 28 September 2023

  • | Reference IN939

Malta - Iyo Yakakurumbira Fund Regime

Sezvo Malta yakabatana neEU, muna 2004, nyika yakagadza mutemo mutsva, uye yakaunza humwe hutongi hwemari, izvo zvakaita kuti Malta ive nzvimbo inoyevedza yekumisa homwe kubva ipapo.

Malta inzvimbo ine mukurumbira uye inodhura-inoshanda, uye zvakare inopa akawanda marudzi ehomwe yekusarudza kubva, zvichienderana neinodiwa yekudyara zano. Izvi zvinopa kuchinjika uye kugona kugadzirisa kune akasiyana mamiriro.

Malta inobvumira kushandiswa kwemhando dzakasiyana dzemotokari dzemutemo mumamiriro ehedge funds uye inogona kuumbwa uchishandisa zvinotevera pamutemo motokari:

  • Investment company ine variable share capital (SICAV)
  • Investment company ine fixed share capital (INVCO)
  • ushamwari
  • Unit trust
  • Common contractual fund

The Different Legal Mota

SICAVs uye INVCOs makambani anonakidzwa nehunhu hwakasiyana, nepo Unit Trusts, Mutual Funds uye Limited Partnerships asiri emakambani mafomu.

Kunyange iyo inonyanya kufarirwa fomu yepamutemo iri SICAV, nehuwandu hwemari yeMaltese iri kugadzirwa pachishandiswa fomu iri, chimiro chega chega chine hunhu hwakasiyana hunogona kuita kuti chiwedzere kana kushomeka kune zvimwe zvinangwa zvekudyara.

Malta SICAVs mune Zvakawanda Detail

Kambani yekudyara ine capital share capital ('Société d'Investissement à Capital Variable kana 'SICAV') ndiyo inonyanya kufarirwa chimiro cheMaltese hedge funds. Iyo SICAV yakada kufanana neLuxembourg chimiro chezita rimwechete imotokari 'yakaedzwa uye yakaedzwa' kuti iwane mari.

Migove muSICAV haina kupihwa kukosha kwezita, uye share capital yekambani inogara yakaenzana nekukosha kweiyo yakapihwa share capital yekambani. Chaizvoizvo izvi zvinoreva kuti chimiro chakanyatsokodzera kune 'yakavhurika-yakapera' zvirongwa.

Zvakare zvinofadza inyaya yekuti Malta Companies Act inotaura kuti, chinangwa cheSICAV ndeye 'kubatanidzwa kwekudyara kwemari yayo muzvibatiso uye mune zvimwe zvinhu zvinofambiswa uye zvisinga fambise kana mune chimwe chazvo'. Izvi, zvakasanganiswa neMFSA inochinjika nzira yezvirambidzo zvekudyara, mumamiriro ezvinhu eProfessional Investor Funds, zvinoreva kuti SICAV imotokari inochinjika inobvumira nzira dzakasiyana dzekudyara.

Malta INVCOs mune Zvakawanda Detail

Iyo INVCO ikambani yekudyara ine fixed share capital. Mutemo weMalta Companies Act unotaura kuti INVCO ikambani yeruzhinji, bhizinesi rayo ndere 'kudyara mari mumari, kunyanya muzvibatiso, nechinangwa chekuparadzira njodzi yekudyara uye kupa nhengo dzekambani kubatsirwa kwemhedzisiro yevatungamiriri. yemari yayo'.

INVCO zvakare iri pasi pezvirambidzo zvinotevera:

  1. INVCO inobata mune mamwe makambani, asiri makambani ekudyara ane mari yakatarwa, haafanire kudarika 15% yekukosha kwekudyara kwayo;
  2. Kugovera kweINCO's capital profit inorambidzwa, nememorandamu yayo uye zvinyorwa zvemubatanidzwa; uye
  3. Iyo INVCO haifanire kuchengetedza inodarika 15% yemari inotorwa kubva kune securities.

Zvirambidzo izvi zvakakonzera kuti INVCO ive isinganyanyozivikanwa yekambani yekudyara muMalta kana ichienzaniswa neSICAV.

Ndeupi Musiyano Mukuru pakati peSICAVs neINCOS?

Misiyano mikuru pakati peSICAV neINCO ndiyo inotevera:

  1. A SICAV ikambani yekudyara ine inosiyana share capital (inowanzo kunzi "yakavhurika-yakapera").
  2. INVCO ikambani yekudyara ine yakagadziriswa share capital (inowanzo kunzi "yakavharwa-yakapera").

Izvo zvinopihwa neMalta Companies Act zvinoda kuti chinhu cheSICAV Malta chingogumira kune "mubatanidzwa mari yemari yayo muzvibatiso uye mune zvimwe zvinhu zvinofambiswa uye zvisingabvisiki, kana mune chero ipi zvayo”; nepo izvo zveINCOC zvinongogumira mukudyara kwemari yayo "kunyanya mukuchengetedza".

Muzviitiko zvese izvi, bhizinesi rinofanira kuitwa nechinangwa chekuparadzira njodzi yekudyara uye kupa vagovanisi vekambani, mubairo unobva mukutarisira mari yayo.

Pamusoro pezvo, SICAV ine basa rekutenga patsva (kureva kudzikinura) chero chikamu chayo, kana chikumbiro, nemugovani, uye basa iri reSICAV rinofanirwa kutsanangurwa muMemorandum uye Zvinyorwa zveSangano. 

Chekupedzisira, sezvakatsanangurwa pamusoro, iyo SICAV inonakidzwa nepamusoro-soro mazinga ekushanduka kana zvasvika kune nzira dzekudyara iyo yainogona kutevera.

Zvimwe Information

Kuti uwane rumwe ruzivo nezve mari yeMaltese uye kuti ingangokubatsira sei kwauri, ndapota taura nehofisi yedu yeDixcart kuMalta: zano.malta@dixcart.com.

Neimwe nzira, ndapota taura kune yako yakajairika Dixcart kuonana.

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