The Malta Financial Services Authority (MFSA) has today issued a circular regarding the establishment of Single Family Offices (SFOs) in Malta, presenting a unique opportunity for the jurisdiction. These changes aim to streamline the regulatory framework and position Malta as an even more attractive jurisdiction for HNW families looking for efficient wealth management solutions.
Key Points from the Circular:
1. Single Family Offices in Malta Single Family Offices offer comprehensive services, including investment management, estate planning, philanthropic activities, and lifestyle management—all tailored to the needs of a HNW family. The MFSA is enhancing its regulatory environment to facilitate the growth of these structures in Malta.
2. Revised Regulatory Frameworks for NPIFs and Exempt Managers The MFSA has amended two key rulebooks:
- Investment Services Rules for Notified Professional Investor Funds (NPIFs): This update introduces provisions for exempt fund managers managing family office vehicles. Specifically, fund managers based in Malta can now manage NPIFs under exemptions, provided they do not raise external capital and invest solely the private wealth of the family.
- Trustees of Family Trusts Rulebook: The MFSA has also updated the definition of “family members” and “family clients,” recognizing more contemporary family structures and extending the eligibility to include additional parties, such as “family clients.”
What Does This Mean?
These amendments reinforce Malta’s position as a leading hub for establishing Single Family Offices and managing private wealth. Reach out for more detail and further guidance – queries@fexservfunds.com
