Funds & Investment Services: Application Costs

An Investment Fund set up in Malta requires a Collective Investment Scheme (CIS) licence under the Investment Services Act (ISA). This is in accordance with not only the ISA but the rules of the Malta Financial Services Authority (MFSA) which is the main regulatory body which supervises and regulates the investment services sector and which has the ability to issue licences and authorisations.

All application fees must be paid upon making an application for a CIS licence, or upon notifying the MFSA of a notification request by a European Undertakings for Collective Investment in Marketable Securities scheme (UCITS). All application fees must be paid in full and will not be refunded if the application or notification process does not have a successful outcome.

Any supervisory fees shall be paid once the licence is granted or when a European UCITS scheme is authorized by the MFSA to market its products and services to Malta. These annual supervisory fees must also be paid on the anniversary of the granting of such licence/authorisation, with a leeway of seven days from the date of such anniversary for payment.

The following section illustrates the current application and supervisory fees: