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Regulatory change in Malta increases flexibility

A recent amendment to the Investment Services Act (Exemption) Regulations (Subsidiary Legislation 370.02 of the Laws of Malta) provides added flexibility for certain investment undertakings to be exempt from obtaining a collective investment scheme licence

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.

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Estera has acquired Heritage Financial Services Group.

Estera is a leading global provider of fiduciary and administration services. The 
acquisition of Heritage Financial Services Group is central to the expansion of 
our funds service line and also expands jurisdictional choice for our trust and 
corporate clients.

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