Maltese funds may be established in various legal forms (subject to certain regulatory restrictions applicable to UCITS), in particular:

  • an investment company with variable share capital (“SICAV”) in terms of the Companies Act (Chapter 386 of the Laws of Malta), which may be either a public or a private limited liability company – this is the vehicle most commonly in Malta;
  • an investment company with fixed share capital (“INVCO”) in terms of the Companies Act, which per definition is a public limited liability company;
  • a limited partnership (or partnership en commandite) (“LP”) in terms of the Companies Act,

all the above having separate legal personality, or

  • a unit trust in terms of the Trust and Trustees Act (Chapter 331 of the Laws of Malta);
  • a common contractual fund in terms of the Investment Services Act (Contractual Funds) Regulations (Legal Notice 3 of 2011).