A Maltese non-UCITS retail scheme may be set up as an open-ended or closed-ended scheme and may market its units to the general public in Malta without limitation. It is also possible to market a Maltese non-UCITS scheme to investors outside of Malta subject, of course, to compliance with the relevant authorization or regulatory requirements applicable in the jurisdictions where the investor is based.

A Maltese non-UCITS scheme may be self-managed or may appoint a third party manager, and must appoint a custodian or depositary that is based in Malta and which is licensed in Malta in accordance with the Investment Services Act (Cap. 370, Laws of Malta). An administrator appointed by a non-UCITS scheme must be based in Malta.