Types of Fund & Dixcart Services Available

Different jurisdictions have their specific fund legislation and choice of fund structures. The optimum option will depend on the investors and the promoter’s specific circumstances.

The variety of fund structures available across jurisdictions reflects the growing demand for tailored investment solutions, a key focus of Dixcart’s wider fund services.

Exempt Funds, available in the Isle of Man continue to be a popular choice. The jurisdiction of Malta offers the choice of collective investment schemes, operating freely throughout the EU, on the basis of a single authorisation from one member state. 

Exempt Funds

All Isle of Man funds, including Exempt Funds, must conform to the meanings defined within the Collective Investment Scheme Act 2008 (CISA 2008), and regulated under the Financial Services Act 2008.

Under Schedule 3 of CISA, an Exempt Fund must meet the following criteria:

• The Exempt Fund to have no more than 49 participants; and
• You should not publicly promote the fund; and
• The scheme must be (a) a Unit Trust governed by laws of the Isle of Man, (b) an Open Ended Investment Company (OEIC) formed or incorporated under the Isle of Man Companies Acts 1931-2004 or Companies Act 2006, or (c) a Limited Partnership that complies with Part II of the Partnership Act 1909, or (d) such other description of a scheme as is prescribed.

European Funds

Malta is a highly attractive jurisdiction for the establishment and administration of investment funds, offering both regulatory advantages and operational efficiencies. As a member of the European Union, Malta benefits from a series of EU Directives that enable collective investment schemes to operate freely across the EU based on a single authorisation from one member state.

This EU framework allows for:

• Cross-border mergers between all types of EU-regulated funds, recognised by all member states.
• Master-feeder fund structures operating across borders.
• A management company passport, enabling a management company licensed in one EU country to manage a fund domiciled in another.

These features make Malta an excellent gateway to the broader European investment market.

Types of Funds

Malta offers four distinct fund structures to meet a wide range of investor profiles and regulatory needs:

• UCITS (Undertakings for Collective Investment in Transferable Securities) – Retail investor funds regulated under EU law.
• Professional Investor Funds (PIFs) – Flexible vehicles aimed at experienced and professional investors.
• Alternative Investment Funds (AIFs) – Designed for alternative strategies under the EU AIFMD regime.
• Notified Alternative Investment Funds (NAIFs) – A streamlined option with a faster time to market for qualifying investors.

Favourable Tax and Business Environment

Malta’s fund regime is supported by a number of tax and operational advantages:

• No stamp duty on the issue or transfer of shares.
• No tax on the net asset value of a fund.
• No withholding tax on dividends paid to non-residents.
• No capital gains tax on the sale of shares or units by non-residents.
• No capital gains tax for residents on shares or units listed on the Malta Stock Exchange.
• Non-prescribed funds benefit from an exemption on income and gains.

In addition, Malta has a comprehensive Double Tax Treaty network, and English is the official language of business and legislation, making regulatory compliance and communication straightforward.

The Dixcart office in Malta holds a fund licence and can therefore provide a comprehensive range of services including; fund administration, accounting and shareholder reporting, corporate secretarial services, shareholder services and valuations.