growth 3

23 May 2017

Timeless Uranium Fund

EUR 0.55

25 Apr 2017

Timeless Precious Metal

EUR 3.65

19 May 2017

Sierra Madre Gold & Silver Venture Capital Fund

CAD 0.1290

Licence Holder Type: Alternative Investment Fund Manager - De Minimis AIFM

Status: Licence Authorised

Identification: TIME

Registered Address:

6, THIRD FLOOR, SUITE 1

MARKET STREET

FLORIANA FRN 1082 

(ROC Company ID: C61250)

offers you its services to establish your own fund in Malta, an ideal jurisdiction within the EU for the registration and licensing of Mutual Funds in general.

  • Introduction to the competent lawyers, fund administrators, auditors who will accompany you through the licensing process.
  • We provide local directors.
  • The Organization of Timeless Asset Management can act as your registered asset manager.

Contact us at +356 79 79 00 91 or +41 79 379 51 57.

Retail Mutual Funds

Malta is an ideal jurisdiction within the EU for the registration and licensing of Mutual Funds in general, including Retail Mutual Funds, be they UCITS compliant or non-UCITS small retail funds. A competent regulatory environment, an efficient and very cost-effective licensing procedure, and quality and competitive professional services, coupled with a tax neutral environment for 'non-prescribed" mutual funds (i.e. not targeting the local market), renders Malta an attractive and increasingly sought after jurisdiction.

Retail Mutual Funds can be registered and licensed as Multi-Class (Single) or Multi-Fund (Umbrella) structures, and some of this jurisdiction's attractive features include a low initial capital requirement, very competitive licensing costs, competent service providers, the possibility of using foreign sub-Custodians and Fund Managers (only for small non-UCITS retail funds that do not gall under the AIFMD), the possibility of structuring the Fund as self-managed (including UCITS), the possibility of listing shares on the Malta Stock Exchange, and of course the possibility of pass-porting to the EU member States (in the case of UCITS).

Professional Investor Funds (PIF)

PIFs are for all intents and purposes regular Mutual Funds, but with certain defining characteristics that render them subject to lighter regulation and greater flexibility, including in the choice of service providers. They are particularly suited for small funds and asset managers that fall outside the scope of the AIFMD.

PIFs can take one of three forms, or a mix thereof, namely PIFs promoted to Extraordinary Investors (Investor criteria apply and a Minimum initial investment of Euro 750,000), a PIFs promoted to Qualifying Investors (Investor criteria apply and a Minimum initial investment of Euro 75,000), and PIFs promoted to Experienced Investors (Investor criteria apply and a Minimum investment of Euro 10,000.

PIFs are not subject to any restrictions on their investment or borrowing powers, with the exception of PIFs investing in immovable property and Experienced Investor PIFs. No leverage restrictions apply, except certain restrictions in the case of PIFs promoted to Experienced Investors

Alternative Investor Funds (AIF)

AIFs are for all intents and purposes regular Mutual Funds that would be considered as AIFs in terms of the Alternative Investment Fund Management Directive (AIFMD). AIFs set up in Malta may be established as Investment Companies (SICAV or INVCO), Limited Partnerships, Unit Trusts / Common Contractual Funds and Incorporated Cell Companies. They may be structured as umbrella funds with sub-funds, and they may also issue more than one class of shares/units that shall not constitute a distinct sub-fund of the AIF.

AIFs may be managed in one of two ways. They may appoint an external AIFM or be self-managed. The manager or the self-managed AIF, as the case may be, shall be responsible for Portfolio Management and Risk Management, as well as other administrative functions commonly associated with fund management. Both main functions may be delegated, subject to meeting certain minimum requirements. A third party managed AIF may appoint either an AIFM which has an established place of business in Malta or an AIFM licensed in another EU or EEA state. Self-managed AIFs shall be subject to all the obligations which would otherwise be incumbent on the Manager.

There are no restrictions as to the location of the appointed Fund Administrator, however the MFSA must be satisfied that the entity in question has the business organization, systems, experience and expertise necessary to act as a Fund Administrator, even if the AIFM retains the Fund Administration role.

Every AIF must appoint a single Custodian. The Custodian shall be either in possession of a Category 4 Investment Services License issued by the MFSA or, till 2017, be a Credit Institution having its registered office in the EU and authorized in accordance with Directive 2006/48/EC ("The Banking Directive"). AIFs which have no redemption rights exercisable during the period of 5 years from the date of the initial investments and which generally do not invest in assets that must be held in custody, or generally invest in issuers or non-listed companies in order to potentially acquire control over such companies, may appoint an entity which carries out depository functions as part of its professional or business activities. Such entities may include Fund Administrators and other similar businesses.

Units in AIFs may be directly or indirectly offered to/placed with professional investors in any Member State or EEA State, subject to the requirement of notification to the MFSA.