Malta Financial Services Sector

Financial Services Law 720X242

Malta is a leading European financial centre which combines high regulatory standards and rigorous enforcement with a commercial, business savvy attitude. The financial services sector has achieved rapid growth since the country's 2004 accession to the EU and the island is now rightly seen as having a sound and sophisticated financial system. This has led various businesses to choose Malta as their home, including hedge funds, insurance captives, fund managers, investment services providers, credit institutions, insurance intermediaries and forex operators of various types. Malta’s status as an EU member state ensures that the jurisdiction maintains the highest regulatory standards which grant added reputability to Malta as a European financial services hub. Simultaneously, Malta boasts very low set-up and operational costs and fiscal base while still maintaining European standards of compliance.

The jurisdiction’s English speaking workforce and geographical location are additional factors which have helped Malta become an international financial services centre, as it is also particularly well adapted to serving as a platform and base of operations for businesses seeking to tap into the European, North African and Middle Eastern markets.

The Malta Financial Services Authority

A significant catalyst which has contributed greatly to Malta’s success as a financial services jurisdiction was the local regulator, the Malta Financial Services Authority (MFSA). The MFSA is the single regulator for all financial services in Malta and is responsible for regulating and supervising all recognised and licensed financial services, issuing guidance notes, monitoring local and international developments, and plays an instrumental role in training. Owing to Malta’s excellent legislative frameworks which set out the regulations for various financial services offered in Malta, the MFSA seeks to encourage the highest standards of compliance and run a consumer affairs unit which confers added reputability and credibility to financial services licensed in Malta. However, the MFSA also understands that to encourage sustainable industry growth and development, it must maintain a flexible environment which promotes business activity. Thus, it strives to keep an open mind and maintains an open door policy whereby it encourages interested entrepreneurs and investors to seek assistance on how to set up their financial service in Malta.

Our Malta Financial Services Team

Our specialised Financial Services industry group consists of a multi-disciplinary team of lawyers, accountants and tax specialists drawn from our banking, capital markets, investment services, fund services, insurance, corporate, tax, and real estate practices who have an unrivalled breadth and depth of experience of working with a broad range of financial services institutions, credit institutions, insurance companies, funds and investment services companies. Our specialist expertise and financial services knowledge expertise enables our advisors to provide results-driven commercial advice to these financial entities on some of their most complex transactions and to help them address some of their most challenging business issues.

Our Legal Team advises and assists financial services operators in setting up and operates from a Maltese regulatory and legal perspective by working hand in hand with the promoters, in-house legal and financial advisors, managers and other functionaries. Our Tax Team also advises on the most appropriate and tax-efficient structure for each particular case. Our Accounting and Finance Team advises on ongoing monitoring and compliance, best accounting systems and procedures, historical analysis and projections. Our professionals are also frequently requested to provide analysis papers, consultative opinions and revisions of laws analysis to institutions, regulatory bodies and agencies.

Chetcuti Cauchi’s expertise and familiarity with the peculiarities of this industry coupled with our in-depth knowledge of local regulatory processes has positioned us as the advisors of choice for discerning operators seeking a one-stop shop financial services solution provider in Malta.

Reference Materials

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Key Contacts

Mr Steve Muscat Azzopardi

Director, Trust & Corporate Services, CCA Interserv Ltd

+356 2205 6328

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