The Recognized Incorporated Cell Company (RICC) legal framework provides for a multi-fund / multi-SICAV platform-type model, which enables the RICC to provide administrative services to its hosted Incorporated Cell SICAV or SICAF (IC).
The RICC is a pre-established structure model upon which various unrelated funds can build, with the base and preparation already in place. Hence, new funds may avoid the trouble to arrange for all of the requirements themselves. This concept provides for cost and time savings attained through centralisation and standardisation, including start-up services.
Standardised fund documentation with service providers is in place upon the establishment – this allows ICs to be incepted in shorter time periods as service agreements with external providers will already have been approved by the Regulator.
In view of the enhanced compliance costs occasioned by new regulation the RICC model is an attractive option for fund promoters.
Fund Start-up and Relocation
Whilst the RICC platform may be beneficial for all fund sizes, the RICC concept specially incentivises start-up funds run by asset managers or for the benefit of a family office. Of course, Coprolin may also assist you in the set-up of a stand-alone fund, not hosted by the RICC. Further, an investment fund established outside the EU may be continued in Malta under a RICC, thus allowing for uninterrupted business progression, while getting access to the benefits of the EU passporting rules.
Type of Funds
ICs established under a RICC each enjoy separate legal personality – their assets and liabilities are thus ring-fenced from one another and accordingly creditors of each individual IC may not have recourse to the assets of any other IC.
The RICC’s ICs may comprise a mix of EU-regulated funds (AIFs and UCITS) and non-harmonized funds (PIFs), the choice of which will ultimately depend on whether the promoters are after a retail-type product or not. The RICC’s ICs may either be externally or self-managed.
Our Investment Fund Services
At Coprolin we can guide you through the application process and assist in the drafting of the required documentation and forms. We will introduce you to the authorised service providers, such as the administrator, custodian and auditor or work with your established preferred providers.
Should you be interested in setting up or relocating a fund, please contact us. It would be a pleasure for us to assist you with any queries.