MFSA Authorized AIFM · Malta · EU Passport · 27 Markets
Your strategy. EU-regulated. Target launch in 30-60 days.
27+
EU Markets Accessible
30-60
Target Days to Launch*
3
Entry Structures: AIF · AMC · ETI
Significantly lower
Platform Cost vs. Standalone**
No Fixed
Compliance Setup Cost
MFSA Authorized AIFM
Malta
AIFMD II - Directive 2024/927/EU
EU Passport
27 Markets
AMC
ETI
AIF
Gateway to Europe
Eastern Europe
Africa
GCC
Liquidity Management Tools (LMTs)
Eastern Real Estate AIF
Private Equity
Liquid Strategies
Digital Assets
Tokenization
FATCA
CRS
AML/KYC
Sub-threshold & Full AIFM
ESG Disclosure Compliant
Why Structure with Framont?
Access Europe. From anywhere.
EU Regulatory Credibility, No EU Establishment Required
EU Distribution Passport
Favourable Regulatory and Tax Framework
Malta offers a proportionate regulatory framework for AIFMs under EU law, combined with an extensive double tax treaty network covering 70+ jurisdictions — including numerous Eastern European, African and GCC countries. Maltese AIFs may benefit from certain tax treatments on fund income, capital gains and rental income, subject to applicable law and individual circumstances. Independent tax advice is recommended.
Three Entry Structures. One Platform.
Framont offers three regulated entry vehicles — AIF (Alternative Investment Fund), AMC (Actively Managed Certificate) and ETI (Exchange Traded Instrument) — from a single MFSA-authorized platform. Each structure addresses a different combination of timeline, cost, investor base and distribution strategy. The right structure is the one that matches your capital, your investors and your objectives.
European AIF Market NAV
Total EU alternative investment fund net asset value, end of 2022
ESMA · EU Alternative Investment Funds Statistical Report, January 2024 (ESMA50-524821-3095)
Annual AIF Market Growth
Year-on-year growth in EU AIF net assets, 2022 vs 2021
ESMA · EU Alternative Investment Funds Statistical Report, January 2024
Active AIFs in the EU
Authorized alternative investment funds reported to ESMA, end of 2022
ESMA · EU Alternative Investment Funds Statistical Report, January 2024
Malta DTT Network
Countries covered by Malta’s double tax treaty network, including key Eastern European and African jurisdictions
Malta Tax Administration — verified treaty list
Market Data
The AIF market is growing. So is the compliance pressure.
AIFMD II has raised entry barriers significantly — but also widened the gap between self-managed funds struggling with compliance and those operating under a professional AIFM platform like Framont. The opportunity belongs to those who move fast and smart.
Who We Help
One platform. Five profiles. Every pathway to Europe.
Whether you are launching your first AIF, relocating an existing structure, structuring private wealth, or accessing EU capital markets from outside the EU — Framont is your MFSA-authorized regulatory platform. We work with five distinct client profiles, each with a tailored pathway through our AIF, AMC and ETI infrastructure.
External Fund Manager
You have the strategy. We have the licence.
You have a validated investment strategy and investor interest — but obtaining your own AIFM licence typically takes 18–24 months and may involve estimated costs of €400K–€500K or more in legal, capital and operational expenses, depending on the structure. You need to launch efficiently — with full AIFMD II compliance from day one.
Fund Manager Relocating
Keep your investors. Gain EU flexibility.
You manage assets. You want a more flexible European structure without losing your client base — and choosing a flexible, bespoke and trendy jurisdiction.
03
Family Office / HNWI (EU-Based)
Institutional structure. Private cost model.
You have assets which require proper structure. You want a dedicated investment vehicle with real institutional governance, professional reporting, access to co-investment deal flow – without the cost of building it from scratch.
04
The Real Estate Developer Case
Transform your project into an institutional AIF.
You have a development project — residential, commercial, tourism or NPL — and need to raise capital from professional or qualified European investors. You need a regulated structure that gives institutional investors the governance and oversight they require.
05
Non-EU Asset Manager, HNWI or Family Office
Your capital. EU-regulated. Accessible to European investors.
You are based anywhere outside the EU. You manage assets, run an investment strategy or hold private wealth — and you want one or more of the following: EU regulatory credibility for your strategy, access to European institutional and qualified investors, a listed instrument tradeable through European brokers, or a compliant structure that reflects the standards expected by international counterparties. You do not want to spend 18 months building an EU regulated entity from scratch.
Gateway to Europe
Three structures. One regulated platform. Your entry into EU markets.
Alternative Investment Fund
NAIF. Full EU passport. Institutional-grade. Your name on the fund.
An AIFMD II-compliant AIF managed by Framont gives your strategy full EU regulatory status. Raise capital from qualified investors across 27 EEA markets, operate under institutional governance standards, and present a regulated EU fund to your investors and counterparties — without obtaining your own AIFM licence. Framont acts as the authorized AIFM; you retain investment discretion within the AIFMD II delegation framework.
Target launch: 10 working days for approval · Full EU passport (jurisdictions to be chosen) · Suggested AUM €3M + (depending on the strategy)
Actively Managed Certificate
AMC. Listed in weeks. Your strategy. Your discretion.
An Actively Managed Certificate is a securitised instrument issued under an existing listing programme on a recognised exchange (SIX, Euronext, MSE). It tracks a portfolio, without investor approval for rebalancing decisions. For non-EU managers seeking a fast, cost-efficient entry point into European markets — with a listed, tradeable product — the AMC is the most direct route available. No separate MFSA fund authorization is required; the instrument is issued under an existing programme.
Exchange Traded Instrument
ETI. Exchange-listed. Maximum distribution reach.
An ETI is a securitised, exchange-listed instrument service the needs of the wealth & asset management industry: investment managers need efficient, easy to distribute, and cost-effective vehicles for their strategies as well as a quick time-to-market. For EU and non-EU strategies requiring the widest possible EU distribution footprint, or for tokenized and DLT-native assets seeking EU listing, the ETI offers the most flexible and broadly accessible structure available from the Framont platform.
E
| Your Objective | Recommended Structure | Why |
|---|---|---|
| Full EU regulatory status + investor capacity | NAIF (Notified Alternative Investment Fund) | AIFMD II passport, institutional governance, up to unlimited investors |
| Fast EU listing, active AMC management discretion | AMC | 4 weeks, no separate fund authorization, any strategy. Available for retail investors subject to specific conditions. |
| Widest EU distribution, ETI retail access | ETI |
Retail-eligible, any EU broker |
Tap to drag
Which structure suits your strategy?
Get a Free Structure Comparison — No Commitment Required
The Platform
The infrastructure. You bring the strategy.
AIFMD II — Directive 2024/927/EU · In Force 2026
Compliance-ready from day one
Mandatory LMTs (gates, notice periods, swing pricing), updated delegation oversight framework, enhanced investor disclosures, SFDR-aligned ESG reporting, expanded NPPR rules — all implemented across the Framont platform under MFSA authorization.
01
MFSA Authorized Platform
Full AIFM authorization under Maltese law. Sub-funds onboard in weeks. Leverage our licence — not your capital or time.
MFSA-authorized since inception
02
EU Passport · 27 Markets
One fund. 27 potential markets. Raise from EEA professional or qualified investors without additional authorization costs. Cross-border marketing under AIFMD II passport regime. For AMC and ETI structures, exchange listing provides distribution access across EU brokerages.
Cross-border by default
03
Full AIFMD II Compliance Stack
Risk management, MFSA reporting, FATCA/CRS, AML/KYC, ESG disclosures, LMT implementation — the full regulatory engine, running live. Framont handles the compliance infrastructure; fund promoters and instrument issuers retain their own investor-facing obligations.
Shared compliance infrastructure
04
Target Day Launch
Optimized MFSA filing process. From signed mandate to fund authorization — target timeline with dedicated project manager. Sub-funds: estimated 4 weeks. New dedicated NAIFs: estimated 5-6 weeks. AMC: target 2–4 weeks. ETI: target 4–8 weeks. All timelines subject to exchange and/or MFSA processing times.
Optimized process across all structures
05
Shared Cost Model
Audit, legal and regulated infrastructure — all costs shared across platform funds.
Contact us for a detailed cost illustration specific to your structure and AuM.
Shared-platform cost model
06
10+ Active Jurisdictions · Global Investor Base
Malta, Italy, Luxembourg, Dubai, Spain, Caribbean. Operational experience in the markets your investors come from — including Eastern Europe, Singapore and the GCC — and those you want to access.
True cross-border expertise
AIFMD II Compliance
AIFMD II requirements. Implemented as of Q2 2026.
AIFMD II Platform Coverage
LMT — Liquidity Management Tools
Delegation Oversight Framework
AIFMD II tightened delegation to third parties with stricter governance, documented monitoring and MFSA reporting. Framont maintains all oversight procedures — you delegate investment management, we handle everything else.
Strategies & Structures
What do you want to invest in?
Examples of already tested alternative investment strategies
Choose your investment strategy
Four asset classes — each with dedicated structuring expertise and compliance built in across all three structures (AIF, AMC, ETI)
Real Estate
EU AIF market NAV: 16% Real Estate (ESMA, end-2022)
Private Equity
EU AIF market NAV: 11% Private Equity (ESMA, end-2022)
Liquid Strategies
EU AIF market NAV: other AIFs 51% (incl. liquid/hedge) (ESMA, end-2022)
Digital Assets
Choose your legal vehicle
Three MFSA-regulated structures — matching your AuM, timeline and investor profile. All strategies above work with any structure below.
Notified AIF
Fast-track · Sub-threshold · Proportionate AIFMD II regime
Optimized MFSA filing process. From signed mandate to fund authorization — target timeline with dedicated project manager. Sub-funds: estimated 30–45 days. New AIFs: estimated 30–60 days. AMC: target 2–4 weeks. ETI: target 4–8 weeks. All timelines subject to exchange and/or MFSA processing times.
<€100M AuM limit
2+ Min. investors
Est. 45–60 Days to Launch*
Sub-fund / SCC
Under Framont umbrella · Lowest cost · Est. 30 days*
An efficient route to market. Launch directly under our existing MFSA umbrella — no new authorization needed. Fully segregated cells, complete asset isolation. All AIFMD II infrastructure pre-existing: no build time required.
Full Segregation
Shared cost model
Est. 30–45 Days to Launch*
AMC / ETI (Listed instruments)
Exchange-listed · Fast deployment · Broad distribution
For strategies that benefit from exchange listing, active management flexibility, retail or institutional distribution, or faster time-to-market than a full AIF. AMC: issued under existing listing programmes, no separate fund authorization. ETI: MFSA-regulated under the Investment Services Act. See the Market Access section for full details.
AMC: 2–4 wks
ETI: 4–8 wks
Any strategy
EU exchange listed
Real Estate AIF
Development · Income · Tourism · NPL
Purpose-built for real estate strategies. Structured under Maltese law with potential for favourable tax treatment on rental income and capital gains, subject to applicable legislation and individual circumstances. SPV integration, NPL acquisition, Rent-to-Buy. AIFMD II-compliant property valuations and institutional-grade investor reporting.
SPV Integration
ETI: 4–8 wks
Any strategy
Est. 30–60 Days to Launch*
Not sure which combination is right for you?
Case Study
Complex solutions. Delivered on time.
True cross-border expertise
From fragmented portfolio to a single regulated fund.
An Italian family held a complex mix of performing assets, properties under renovation, and outstanding bank liabilities. We structured a dedicated Italian real estate alternative investment fund — consolidating everything into one governed, institutionally managed vehicle. The fund has been actively managed for several years, to the full satisfaction of the family.
Time to deliver: 60 days
Malta SICAV for Trading Family Office
Institutional prime brokerage access. Ready to trade.
An investment team running long/short listed securities strategies needed a compliant institutional vehicle to unlock trading lines and leverage with international prime brokers. We structured and launched a Malta-domiciled SICAV — funded by the family itself — fully operational from day one. The vehicle performed as expected. The family exited with full satisfaction.
Time to deliver: 45 days
Listed ETI for Options & Equity Trader Group
A private trading strategy taken to the exchange.
A professional group active on options and equities wanted to open their strategy to third-party capital through a regulated, marketable instrument — without losing operational control. We structured and listed an ETI on the Stuttgart Stock Exchange, providing a fully compliant, exchange-traded wrapper to raise capital and operate at institutional level.
AMC on Caribbean Real Estate for Family Office
A capital-raising vehicle calibrated for luxury real estate.
A family office active in Caribbean luxury developments — villas and tourist-oriented assets — needed a dedicated instrument to channel investor capital into this asset class efficiently. We structured a bespoke AMC in 60 days, tailored to the client’s profile and the specific regulatory and commercial requirements of the target market.
Why Structure with Framont?
From idea to first closing in 5 steps
Jurisdictions
Where your investors are. And where you are.
Your fund, AMC or ETI reaches 27 EU markets via AIFMD II passport or exchange listing. We have operational experience in the markets your investors come from — including Eastern Europe, the GCC and Southeast Asia — and in the EU markets you want to access. For non-EEA jurisdictions, marketing is subject to applicable local rules and regulations.
EU / Distribution Markets
Italy
Key Operational & Origin Markets
Market Access
Your strategy. EU-listed. Accessible from day one.
Not every investment strategy needs a fund — and not every promoter wants to wait for a full AIFM authorization process. Actively Managed Certificates and Exchange Traded Instruments are the fast, lean and highly distributable entry points into European markets — launched in weeks, listed on EU exchanges, and accessible to institutional and, where applicable, retail investors. For non-EU managers, family offices and capital holders, AMC and ETI structures represent the most direct path to EU market presence. Distribution eligibility varies by instrument type, jurisdiction and investor category.
AMC
Actively Managed Certificate
An AMC is a certificated security — issued and listed on a recognised exchange — that tracks a dynamically managed portfolio. The investment manager retains full discretion to rebalance, rotate and reposition the underlying basket in real time, without investor approval. Think of it as a fund in a certificate wrapper: streamlined governance, maximum operational efficiency. For non-EU managers, the AMC is the fastest structured route to a listed, tradeable European product without establishing an EU fund entity.
Launched in 4-6 weeks — issued under existing listing programmes, no separate MFSA fund authorization required (SIX, Euronext, MSE)
Any underlying strategy — equities, fixed income, alternatives, crypto, multi-asset thematic baskets, volatility strategies, commodities
Listed and liquid — investors subscribe and redeem through their standard brokerage account, exactly like a stock or ETF
Simplified investor access via exchange infrastructure — managers retain their own AML/KYC and suitability obligations under applicable law
No EU establishment required — accessible to non-EU managers acting through Framont as issuer/arranger
4-6 wks time to market
Any strategy type
Non-EU managers eligible
ETI
Exchange Traded Instrument
Open to retail and institutional — no minimum ticket, accessible via standard brokerage, no onboarding friction
Ideal for tokenized strategies — Malta’s DLT framework integrates natively with ETI structure for on-chain asset exposure
Non-EU managers eligible — Framont acts as MFSA-authorized investment advisor or manager on the instrument
Framont’s track record — Framont already acts as investment advisor on an ETI product, with operational infrastructure in place
Non-EU managers eligible
AMC vs ETI vs AIF Fund
| Feature | AMC | ETI | Standalone AIF |
|---|---|---|---|
| Time to market | 4 weeks | 4–8 weeks | Est. 5-6 weeks* |
| Listed on exchange | ✓ Yes | ✓ Yes | ✗ No (unless requested) |
| Retail investor access | Subject to jurisdiction | ✓ Full | Qualified only |
| Subscription via broker | ✓ Yes | ✓ Yes | ✗ Fund process |
| Active strategy discretion | ✓ Full | ✓ Full | ✓ Full |
| EU marketing passport | Exchange listing | Exchange listing | ✓ AIFMD II |
| EU establishment required | ✗ No (via Framont AIFM) | ✗ No (via Framont AIFM) | ✗ No (via Framont AIFM) |
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* Subject to MFSA processing times. ** See cost methodology note. *** Standalone AIF costs are indicative market estimates for a self-managed structure and do not represent Framont platform fees. Actual costs vary. Contact us for a detailed breakdown.
Get started
Ready to access European markets?
DISCOVER MORE
Let’s talk about your strategy and your markets.
30 minutes is all it takes. Tell us your strategy, your investors, your location and your ambitions — we’ll come back with a clear structure recommendation (AIF, AMC or ETI), indicative launch timeline and cost estimate. No jargon, no pressure.
Free Structuring Consultation
30 minutes · No commitment · Fully confidential · Available in English and Italian
EU Investment Vehicles
LEGAL / REGULATORY DISCLAIMER
Framont & Partners Management Ltd. (the “Company”) is licensed by the Malta Financial Services Authority (“MFSA”) in terms of the Investment Services Act, 1994 (Chapter 370 of the Laws of Malta) and qualifies as a “UCITS Management Company” in terms of the UCITS Directive and “Alternative Investment Fund Manager” in terms of the AIFMD. In terms of the licence issued by the MFSA, the Company may provide other investment services. The Company is subject to the Laws of Malta as may be amended from time to time. A copy of the Investment Services licence and any other relevant information can be found on the MFSA’s website: www.mfsa.com.mt and is available upon request. The address of the MFSA is: Malta Financial Services Authority, Triq l-Imdina, Zone 1, Central Business District, Birkirkara, CBD 1010, Malta.
The information contained on this website is directed exclusively at Professional Clients and Eligible Counterparties as defined under MiFID II, and at persons in non-EEA jurisdictions where receipt of this material is lawful under applicable local law. It does not constitute an offer, solicitation or investment advice, and should not be relied upon as the basis for any investment decision. Alternative investments involve risk, including the possible loss of capital. Past performance is not indicative of future results and no representation is made that stated objectives will be achieved. Any reference to tax treatment is general in nature; tax laws and their application vary by jurisdiction and individual circumstances — independent tax and legal advice should be sought before making any investment decision. The marketing of Alternative Investment Fund interests to investors in non-EEA jurisdictions is subject to the National Private Placement Regime (NPPR) applicable in each such jurisdiction pursuant to Article 42 of the AIFMD, as implemented in national law; prospective non-EEA investors should verify the applicable regime before proceeding. Actively Managed Certificates (AMC) are not AIFMD-regulated instruments; they are issued under existing listing programmes on recognised exchanges and are subject to the rules of the relevant exchange and applicable securities law. Exchange Traded Instruments (ETI) are regulated under the Investment Services Act, Chapter 370, Laws of Malta. Launch timelines indicated on this website are target estimates based on Framont’s internal process and are subject to MFSA review and/or exchange processing times, which remain at the sole discretion of the relevant authority. Cost comparisons marked (**) represent internal estimates against equivalent standalone fund structures; actual costs and savings will vary depending on fund size, strategy and structure — contact us for a detailed cost illustration specific to your situation. This website may contain forward-looking statements; such statements are subject to risks and uncertainties and actual outcomes may differ materially.
For any questions kindly refer to Framont & Partners Management Ltd, 5th Floor, Dragonara Business Centre, San Giljan, STJ 3141, Malta | Tel +356 20105592.