01 Nov 2009 Hedge Fund Alert
Malta hedge funds, Cyprus, Malta Court Hedge Fund Operators. Malta, which has some 500 hedge funds, mutual funds and other investment vehicles in its jurisdiction, has been courting several London hedge fund operators. Malta is touting an effective tax rate as low as 5% after managers make distributions to fund shareholders. By comparison, recent changes in the U.K.’s tax code have increased effective rates to more than 50%.
“The Maltese authorities are hungry for business,” said Dominique Lecocq, a partner at boutique law firm Lecocq Associates in Geneva. It has recently established an outpost in Malta and is advising at least nine funds there.