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SLPFs: Partnership Funds Without Legal Personality Investment Services & Funds

SLPFs: Partnership Funds Without Legal Personality

The Investment Services Act (Special Limited Partnership Funds) Regulations (“LN 30 (2025)” or “the Regulations”) introduced a new type of structure for investment funds in Malta which will be useful for those who are interested in setting up a vehicle without a separate legal personality. The Regulations provide the framework for the Special Limited Partnership Fund (“SLPF”), a limited partnership without juridical personality, a structure that aligns Malta with several other leading asset-management jurisdictions. The SLPF can only be set-up as an investment vehicle which is notified or licensed by the Malta Financial Service Authority (“MFSA”) as a collective investment…
Mario Mizzi
13th February 2025
Fintech Insights 9
Fintech Insights #9 –
Tokenisation in Malta FinTech

Fintech Insights #9 –
Tokenisation in Malta

Tokenisation is the process of converting legal rights of a real-world-asset (“RWA”) into a digital token that is recorded on a decentralised ledger. Asset-referenced tokens (“ARTs”) can tokenise physical assets such as buildings and commodities; or intangible assets including bonds, equities, intellectual property, quarrying/mining rights or renewable energy credits. ARTs provide a decentralised and transparent way to manage and transfer ownership. The process often involves the use of smart contracts, which automate and enforce the terms of agreements, enhancing efficiency and reducing counterparty risks.  Unlike derivative products, RWA-backed tokens which are licensed as ARTs confer an immutable legal title of…
Mario Mizzi
9th January 2025
EU flag on currency
MFSA Clarifies MiCA Application Process FinTech

MFSA Clarifies MiCA Application Process

On the 10th of December 2024, the Malta Financial Services Authority (“MFSA”), published a circular titled ‘Circular to the Industry on the Authorisation Process for MiCA Applicants’. The purpose of this circular is to provide clarity on the application process in Malta under Regulation (EU) 2023/1114 of the European Parliament and Council on markets in Crypto-Assets (“MiCA Regulation”). The MiCA Regulation was integrated into Maltese law through Chapter 647 of the Laws of Malta, titled the Markets in Crypto-Assets Act (hereinafter referred to as “MiCA Act”). As outlined previously, the MiCA Act provides transitory provisions for the eventual repeal of the Virtual Financial Assets…
Mamo TCV Advocates
11th December 2024
Scene in Valletta
Family Offices Get Maltese Investment Law Exemption Investment Services & Funds

Family Offices Get Maltese Investment Law Exemption

Family offices which choose to manage their global investments from Malta have been given a new legal exemption through a recent amendment in the applicable investment services rulebook of the Malta Financial Services Authority (“MFSA”). On the  27th of November 2024, the MFSA issued a circular titled “Establishment of Single Family Offices in Malta”. The circular provides that a Notified Professional Investor Fund (“NPIF”) which is set up to solely manage the investment of a single family office (without raising external capital) does not require a licensed fund manager anymore. This is a beneficial exemption which reduces cost and bureaucracy…
Katya Tua and Mario Mizzi
28th November 2024
Cheques
Recent Amendments to CBM Directive 19 Corporate and M&A

Recent Amendments to CBM Directive 19

Introduction Directive No. 19 (the “Directive”), issued by the Central Bank of Malta (the “CBM” or the “Central Bank”) on the 7th July 2021 officially came into effect on 1st January 2022, with amendments issued in September 2024. It applies to all paper-based instruments issued, processed, or encashed within Malta’s jurisdiction, as long as these instruments are denominated in euros. The Directive sets the framework for the safe and effective use of cheques and bank drafts (collectively referred to as "paper-based instruments") where the payer, payee and the regulated institutions servicing the paper-based instruments are all located in Malta. It…
Michael Psaila
19th November 2024
Furthering MiCAR in Malta by Chapter 647
Fintech Insights #8 –
Furthering MiCAR in Malta by Chapter 647 FinTech

Fintech Insights #8 –
Furthering MiCAR in Malta by Chapter 647

Chapter 647 of the Laws of Malta, titled the Markets In Crypto-Assets Act (hereinafter referred to as “Chapter 647”), integrates all aspects of Regulation (EU) 2023/1114 of the European Parliament and Council on markets in crypto-assets (“MiCAR”). MiCAR regulates the issuers of asset-referenced tokens (“ARTs”), electronic money tokens (“EMTs”), other types of tokens, as well as the conduct of crypto asset service providers (“CASPs”). Malta’s presidential assent to Chapter 647 was given on the 5th of November 2024 through  Act No. XXXVI of 2024 (“Act 36 (2024)”); and it was promulgated on the same day. Similar to MiCAR, Act 36…
Mario Mizzi
12th November 2024