Malta-domiciled funds managed in Malta increased from 22% to 44% in 2011

The number of domiciled funds that are managed in Malta increased from 22% to 44% in 2011, while the number of Maltese funds administered locally increased from 47% to 78%, the Minister of Finance, the Economy and Investment Tonio Fenech said.

This increase has also led to a surge in the level of local service provision to all types of funds. Malta-based administrators today administering funds also domiciled in the Cayman Islands, the British Virgin Islands and the Channel Islands amongst others.

Malta is continuously updating its legislative and regulatory frameworks updated to ensure that Malta strengthens its competitive advantages. The Maltese regulatory framework has not only passed the European Union test but has also been confirmed by OECD through inclusion on its White List.

The Minister remarked that since joining the European Union in 2004, Malta has been “developing as an onshore domicile and is recognized as a highly functional, cost competitive, well regulated jurisdiction with the availability of skilled and experienced personnel”.

Click here to read more about collective investment schemes and their tax treatment and here to access the Minister’s speech.