Kylin Prime SICAV p.l.c. receives fund license in Malta
Kylin Prime Group is proud to announce the approval of our first investor fund scheme in Malta. The scheme will be called Kylin Prime SICAV p.l.c., with its first sub-fund being named the Malta Government Securities Fund.
Now operational, this fund, which has been authorised by the Malta Financial Services Authority (MFSA), will focus on investments which are eligible for the Malta Residence and Visa Programme (MRVP) and the Malta Individual Investor Programme (MIIP). The fund has been approved and is recognised as an eligible investment for these programmes, meaning investors will not only benefit from a safe & robust investment opportunity in Malta, a country globally recognised as a secure investment destination, but also be eligible to obtain permanent residence and EU citizenship, provided they meet the additional government requirements.
Moreover, Moody’s credit rating for Malta currently stands at A3, with Fitch’s credit rating last being reported as A-, meaning the country has both a positive and stable outlook. These credit rating bodies carry out strict research and the associated rating for Malta is testimony to the work which has been done in recent years to ensure the country is a global leader for investors seeking safe, equitable investment opportunities. When coupled with the fact that Malta has a thriving domestic economy, investors can rest assured that their investment will be well-protected with significant growth opportunities.
In addition, the Scheme will allow us to set up further sub-funds with different characteristics in the future. This will enable us to expand our business scope throughout Europe while simultaneously providing investors with yet another high-quality collective investment fund option in Western Europe.
This news follows on from the success and growth of our Alternative Investment Fund Management business in Cyprus, the UK and Ireland, where we have successfully set up and are operating several investor fund schemes. All schemes under Kylin Prime Group are authorised and overseen by the relevant local regulators, ensuring that they maintain the highest standards at all times. These factors combine to create a holistic investment environment for globally-minded investors seeking to diversify their asset overseas and, in some cases acquire residency and/or citizenship in a foreign country.
Speaking on the significance of this news, Dr Clint Bennetti, Director of Trusts and Corporate Services at Kylin Prime Group and one of the directors of Kylin Prime SICAV p.lc. stated that “this is a significant step for our Group and for our operations in Malta. The Scheme and its Sub-Fund will allow us to provide a holistic service to our clients, ensuring that we will be with them every step of the way. This entity will complement and enhance the other services that we offer, which include the provision of residency and citizenship solutions. We are very keen to assist our clients by enabling them to benefit from the success of the Maltese economy in different ways and the suite of services that we offer reflects this.”
About the MFSA
The MFSA, the single financial services regulatory authority in Malta was established on July 23, 2002 to take over the supervisory functions of the former Central Bank of Malta, Malta Stock Exchange and Malta Financial Services Centre. Although the MFSA is a fully autonomous public agency, it must report to Parliament every year. It is primarily responsible for the functioning of the entire financial services industry, supervising and regulating all financial services activities, credit institutions, financial and electronic money agencies, securities and investment services companies, regulated markets, insurance companies, pension schemes, trustees and company service providers, among others.
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© Kylin Prime Group 2019