Profile - Financial Services Malta

Malta has, over the past two decades, emerged as a serious jurisdiction in the world of financial services, offering a trustworthy alternative to traditional EU financial services jurisdictions such as Ireland and Luxembourg. Undeniably, Malta has been very successful at attracting various financial businesses towards its shores, with the jurisdiction gaining considerable traction in the hedge funds, investment, foreign exchange and captive insurance markets.

Malta’s growth in the financial services industry can be attributed to a diversity of features, including the support towards the industry given by the Maltese Government, the multi-lingual work force, as well as Malta’s admission to the EU in 2004 and the Eurozone in 2008. In the past decade, Malta has also undergone a reformation process bringing all its financial legislation in conformity with international best practice. Furthermore, the soundness of the country’s financial system can be witnessed by the local banking system emerging relatively unscathed from the financial crisis.

All these factors, together with the local authority’s (the Malta Financial Services Authority) firm but flexible approach have helped Malta in becoming a jurisdiction of choice for renowned financial businesses who seek to establish themselves in a secure and well-regulated EU domicile.