Private Investment Company
A collective investment scheme, limiting the total number of participants to 15 persons, shall not require a licence. A request to the MFSA (Malta Financial Services Authority) to recognise such collective investment scheme as a private collective scheme is to be made. Such application is to be accompanied by the relative fee applicable as per S.L 370.03 [Investment Services Act (Licence an Other Fees) Regulations].
That the scheme is essentially private in nature and purpose; and
The scheme does not qualify as a professional investor fund in terms of guidelines issued for this purpose by the said authority.
One of the participants may be a body corporate subject to such restrictions, requirements and conditions as laid down in guidelines issued by the said authority in terms of Article 6 of the Investment Services Act.