Deliver Your News to the World sees positive tax development


Ta’ Xbiex, Malta – 8th February 2006: has once again issued comments regarding developments to the hedge-fund industry in Malta. With effect from 29th December 2005, the Malta Stock Exchange has been designated as a recognised stock exchange for tax purposes by HM Revenue and Customs (UK), under Section 841(1)(b) Income and Corporation Taxes Act 1988. It will also be considered as a recognised stock exchange for Inheritance Tax purposes.
‘‘This recent development provides more scope for fund managers to participate in the hedge-fund industry in Malta” said Mr Kenneth Dimech, Executive Director of Fund Logistics Company Ltd. He also said that this provides added benefits to the hedge fund industry as this increased the effectiveness of setting up a Professional Investor Fund (PIF) in Malta, where a complete solution can be offered locally without managers having to seek other recognised and efficient exchanges.
Professional Investor Funds are aimed at private investors, companies, insurance companies and other institutional investors. Two different investing thresholds exist - a minimum investment of US$20,000 for Experienced Investors and a minimum of US$ 100,000 for Qualifying Investors. Malta’s jurisdiction allows PIFs to be serviced by overseas fund service providers, including Prime Brokers, Administrators, Custodians and Investment Managers.
This development should be of increased interest to fund managers aiming at UK investors. Besides the cost effective solution offered by Malta’s robust legislation, UK investors will also benefit from tax advantages offered to funds listed on the newly recognised exchange.
Fund Logistics Company Ltd is a Malta based fund registration and administration service provider. Professional advice and assistance is provided to start-up hedge, managed futures, private equity and forex funds.
Fund Logistics is constantly following developments in order to ensure that it keeps up with the opportunities locally available to international hedge-fund managers.

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