Malta enjoys a stable political climate and a bi-partisan political scene that is largely convergent on issues of national and economic importance. The country’s economy is considered to be one of the best performers in the EU, maintaining growth during the financial crisis. In 2015, Malta experienced a 6.3% GDP growth whilst unemployment was down to 5.4%. Malta has been a member of the EU since 2004 and of the Schengen Area since 2007.
Malta is a civil law country which has adopted trusts in its legislation and allows for the creation of domestic trusts. Trusts have, among other things, become very flexible and efficient vehicles for asset protection and asset management in Malta
Today Malta’s trusts and estates law allows for the beneficial, yet secure, protection of a person’s wealth and property. The setting up of trusts in Malta is regulated by the Trusts and Trustees Act. The Act also provides for the appointment of the Malta Financial Services Authority (MFSA) as the authority in charge of the authorisation and supervision of trustees. The Act also incorporates the provisions of the Hague Convention on the Law Applicable to Trusts and on their Recognition as ratified.