The exemption applies to investment undertakings, including what are widely known as “family offices”, which invest the private wealth of investors without raising external capital. This exemption is not automatically operative and its applicability is subject to a determination in writing by the Malta Financial Services Authority that the requested exemption applies.
This amendment has increased Malta’s appeal as a family office jurisdiction in widening the spectrum of both regulated and unregulated solutions and structures for such undertakings. This facilitates the setting up of single or multi family offices in order to serve high net worth investors. Family offices generally offer a wholesome solution to managing the finances and investments of an affluent individual or family. Many family offices offer travel arrangements, budgeting, wealth management solutions and tax services.
For more information on the setting up of a family office by Heritage International Fund Services (Malta) Limited contact Dr. Neville Carabott.