Matsete a Mang - Melemo ea Lichelete tsa Malta Hedge
Lintlha tsa bohlokoa ka Malta
- Malta e bile setho sa EU ka Mots'eanong 2004 mme a ikopanya le Euro Zone ka 2008.
- Senyesemane se buuoa haholo ebile se ngoloa Malta 'me ke puo e ka sehloohong ea khoebo.
Lintlha tse Tlatselletsang Molemong oa Tlholisano oa Malta
- Tikoloho e matla ea molao le taolo e nang le moralo oa molao o tsamaellanang le Litaelo tsa EU. Malta e kenyelletsa litsamaiso tse peli tsa taolo: molao oa lehae le molao o tloaelehileng, kaha molao oa khoebo o ipapisitse le melaoana ea molao ea Senyesemane.
- Malta e ithorisa ka boemo bo phahameng ba thuto le baithuti ba emelang likarolo tse fapaneng tsa lithuto tse fapaneng tse amanang le lits'ebeletso tsa lichelete. Koetliso e khethehileng litšebeletsong tsa lichelete e fanoa maemong a fapaneng a thuto ea morao-rao le ea thuto e phahameng. Mosebetsi oa liak'haonte o thehiloe hantle sehlekehlekeng sena. Li-accountant ke baithuti ba univesithi kapa ba na le mangolo a netefalitsoeng a akhaontente (ACA/ACCA).
- A proactive regulator e atamelehang haholo le ea nang le kelello ea khoebo.
- Phepelo e ntseng e hola ea liofisi tsa boemo bo holimo tse hiriloeng ka litheko tse tlase ho feta Europe Bophirima.
- Tsoelo-pele ea Malta e le setsi sa lichelete sa machaba se bonahala ka mefuta e mengata ea litšebeletso tsa lichelete tse teng. Ho tlatselletsa mesebetsi ea setso ea mabenkele, libanka li ntse li tsoela pele ho fana; libanka tsa poraefete le tsa matsete, lichelete tsa merero, likalimo tse kopanetsoeng, polokelo ea matlotlo, tlhokomelo le lits'ebeletso tsa polokelo. Malta e boetse e na le litsi tse 'maloa tse sebetsanang le lihlahisoa tse amanang le khoebo, joalo ka lichelete tse hlophisitsoeng tsa khoebo, le factoring.
- Nako e tloaelehileng ea Malta e ka pele ho hora e le 'ngoe pele ho Greenwich Mean Time (GMT) le lihora tse tšeletseng pele ho nako ea US Eastern Standard Time (EST). Ka hona khoebo ea machaba e ka laoloa ka thelelo.
- Maemo a Machabeng a Tlaleho ea Lichelete, joalo ka ha a amohetsoe ke EU, a thehiloe melaong ea k'hamphani mme e sebetsa ho tloha 1997, ka hona ha ho na litlhoko tsa lehae tsa GAAP tseo u ka sebetsanang le tsona.
- Tsamaiso ea lekhetho e nang le tlholisano haholo, hape bakeng sa bajaki, le marang-rang a pharalletseng a ntseng a hola a habeli a selekane sa lekhetho.
- Ha ho na lithibelo mabapi le ho fana ka tumello ea mosebetsi bakeng sa batho bao e seng litho tsa EU.
Lichelete tsa Malta Hedge: Lichelete tsa Litsebi tsa Batseteli (PIF)
Melao ea Malta ha e bue ka ho toba ho hedge funds. Leha ho le joalo, lichelete tsa hedge tsa Malta li ngolisitsoe ka molao e le Professional Investor Funds (PIFs), morero oa matsete a kopaneng. Lichelete tsa Hedge Malta hangata li thehiloe e le lik'hamphani tsa matsete tse bulehileng kapa tse koetsoeng (SICAV kapa INVCO).
Puso ea Malta Professional Investor Funds (PIFs) e na le mekhahlelo e meraro: (a) ba phahamisetsoang ho ba Batseteli ba Tšoanelehang, (b) ba phahamiselitsoeng ho ba Batseteli ba sa Tloaelehang, le (c) ba phahamiselitsoeng ho ba Batseteli ba nang le boiphihlelo.
Maemo a mang a hloka ho khotsofatsoa hore o tšoanelehe tlasa e 'ngoe ea mekhahlelo ena e meraro mme ka hona o tsebe ho tsetela ho PIF. Li-PIF ke merero e kopanetsoeng ea matsete e etselitsoeng boramatsete ba hloahloa le ba boleng bo holimo ba nang le boiphihlelo le tsebo e itseng maemong a bona.
Tlhaloso ea Motseteli ea Tšoanelehang
"A qualifying Investor" ke motseteli ea phethahatsang lintlha tse latelang:
- E tsetela bonyane ba EUR 100,000 kapa chelete ea eona e lekanang le eona ho PIF. Letsete lena le ka 'na la se fokotsoe ka tlase ho palo ena e fokolang ka nako leha e le efe ka thekollo e sa fellang; 'me
- E phatlalatsa ka lengolo ho mookameli oa letlole le PIF e itseng motseteli oa tseba, 'me o amohela likotsi tse amanang le letsete le reriloeng; 'me
- E khotsofatsa bonyane e 'ngoe ea tse latelang:
- K'hamphani e nang le matlotlo a fetang EUR 750,000 kapa karolo ea sehlopha e nang le thepa e fetang EUR 750,000 kapa, maemong 'ohle, chelete e lekanang le eona; or
- Sehlopha se sa kopanngoeng sa batho kapa mekhatlo e nang le matlotlo a holimo ho EUR 750,000 kapa chelete e lekanang le eona; or
- Therasete moo boleng ba nete ba thepa ea trust bo fetang EUR 750,000 kapa chelete e lekanang le eona; or
- Motho eo boleng ba hae ba boleng bo kopaneng le molekane oa hae bo fetang EUR 750,000 kapa chelete e lekanang le eona; or
- Mosebeletsi e moholo kapa motsamaisi wa mofani wa ditshebeletso ho PIF.
Li-PIF tsa Malta li sebelisetsoa eng, 'me Melemo ea tsona ke efe?
Hangata li-PIF li sebelisoa bakeng sa meaho ea hedge fund e nang le matlotlo a ka tlase ho tloha ho li-securities tse fetisoang, tekano ea poraefete, thepa e ke keng ea sisinyeha le meaho. Li boetse li sebelisoa hangata ke lichelete tse kenang khoebong ea chelete ea crypto.
Li-PIF li fana ka melemo e mengata, ho kenyelletsa:
- Li-PIF li etselitsoe bo-ramatsete ba profeshenale kapa ba boleng bo holimo mme ka hona ha ba na lithibelo tseo hangata li behiloeng licheleteng tsa mabenkele.
- Ha ho na lithibelo tsa matsete kapa matla, 'me li-PIF li ka hlophisoa ho boloka letlotlo le le leng feela.
- Ha ho na tlhoko ea ho khetha Mohlokomeli.
- Khetho e potlakileng ea laesense e teng, ka tumello nakong ea likhoeli tse 2-3.
- E ka itsamaisa.
- E ka khetha batsamaisi, batsamaisi, kapa bafani ba litšebeletso libakeng life kapa life tse tsebahalang, litho tsa EU, EEA, le OECD.
- E ka sebelisoa ho theha chelete ea sebele ea lichelete.
Hape ho na le monyetla oa ho khutlisetsa lichelete tsa hedge tse teng ho tloha libakeng tse ling ho ea Malta. Ka tsela ena, ho tsoela pele ha letlole, matsete le litokisetso tsa likonteraka li ntse li tsoela pele.
Lichelete tse ling tsa Matsete a Malta (AIF)
Li-AIF ke lichelete tse kopaneng tsa matsete tse phahamisang chelete ho tsoa ho bo-ramatsete mme li na le leano le hlalositsoeng la matsete. Ha li hloke tumello tlas'a Undertakings for Collective Investment in Transferable Securities (UCITS) puso.
Phetoho ea morao-rao ea Taelo ea Letlōle la Matsete a Meriana (AIFMD), ka liphetoho tsa Molao oa Litšebeletso tsa Matsete le Melao ea Litšebeletso tsa Matsete le ho kenngoa ha molao oa liphallelo ho thehile moralo oa tsamaiso le papatso ea lichelete tseo e seng tsa UCITS Malta.
Bophahamo ba AIFMD bo pharalletse ebile bo akaretsa taolo, tsamaiso le papatso ea li-AIF. Leha ho le joalo, e akaretsa haholo-holo tumello, maemo a ts'ebetso, le boitlamo ba ponaletso ea li-AIFM le tsamaiso le papatso ea li-AIF ho batseteli ba litsebi ho pholletsa le EU ho latela meeli. Mefuta ena ea lichelete e kenyelletsa lichelete tsa hedge, lichelete tsa lichelete tsa poraefete, lichelete tsa thekiso ea matlo le lichelete tsa capital capital.
Moralo oa AIFMD o fana ka puso e bobebe kapa e fokolang bakeng sa li-AIFM tse nyane. De minimis AIFMs ke batsamaisi bao, ebang ke ka kotloloho kapa ka tsela e sa tobang, ba laolang li-portfolio tsa AIFs bao thepa ea bona e tlas'a botsamaisi e sa feteng chelete e latelang:
1) € 100 milione; or
2) € 500 milione bakeng sa li-AIFM tse laolang feela li-AIF tse sa tsitsang, tse se nang litokelo tsa topollo tse ka sebelisoang nakong ea lilemo tse hlano ho tloha ho tsetelo ea pele ho AIF ka 'ngoe.
A de minimis AIFM e ke ke ea sebelisa litokelo tsa liphasepoto tsa EU tse tsoang pusong ea AIFMD.
Leha ho le joalo, AIFM leha e le efe eo thepa ea eona e tlas'a taolo e oelang ka tlas'a menyako e ka holimo, e ntse e ka khetha ho kena ho moralo oa AIFMD. Sena se tla etsa hore e be tlas'a litlamo tsohle tse sebetsang ho li-AIFM tse felletseng le ho e nolofalletsa ho sebelisa litokelo tsa liphasepoto tsa EU tse tsoang ho AIFMD.
Tlhahisoleseling e 'Ngoe
Haeba u hloka lintlha tse ling mabapi le li-PIF le li-AIF tsa Malta, ka kopo bua le Jonathan Vassallo: keletso.malta@dixcart.com, ofising ea Dixcart e Malta kapa ho lebitso la hau le tloaelehileng la Dixcart.
