Offering the right balance between vigilant regulation, seasoned professionals and discretion, Malta provides advantageous financial planning solutions in the Euro zone.
Malta’s key location at the centre of the Mediterranean has made it a natural hub for wealth management and family
offices in the region, as well as for high-net-worth individuals, expats and pensioners seeking an advantageous residency location, Having won international respect for the excellence of its financial services industry and Malta is emerging as one of the leading wealth management and residency centres of the region,
Driving Malta’s success as a wealth management location is its ability to attract wealthy private clients, High net worth individuals, globe trotting professionals and retirees from Europe and beyond are attracted by Malta’s favourable residency and tax planning solutions, At the same time, Malta’s attractiveness as a corporate location is also creating its own demand from high-earning executives based in the country, leading many to believe Malta could well repeat the success of other regional financial hubs like Dubai and Hong Kong, albeit on a much smaller scale,
Innovative investment vehicle
Malta’s strengths as a wealth management centre lie in its solid fundamentals; the financial centre offers a wide range of investment vehicles including specialist funds regimes, trust companies, and a positive tax regime, In addition, the country has an excellent physical and legal infrastructure which is tried and tested professionals with a track record in structuring customised solutions and offering innovative approaches, The regulatory regime is widely respected and as an EU member state with a politically stable, low-risk environment Malta offers a very attractive international lifestyle – within easy access of most European and Mediterranean capitals.
Strong banking infrastructure
The country’s strong banking infrastructure caters to all levels of wealth from the mass affluent to the ultra high net worth individual requiring the more personalised services of a private banker. Malta has been experiencing a steady increase of banks specifically set up to offer investment banking, private banking and wealth management services to their wealthiest clients, Specialist wealth mangers such as Mediterranean Bank are offering Swiss-style private wealth management, while foreign hanks such as Sparkasse, Volksbank, BAWAG and Raiffeisen all offer management solutions from Malta. Concurrently, retail hanks like Bank of Valletta, Banif and HSBC also offer wealth management services, as do a host of international asset management firms, consultants and other professional institutions offering personalised services to individuals or companies.
Endowed with a balmy Mediterranean climate, excellent quality of life and relatively low cost of living, Malta has attracted a large number of foreigners with its permanent president scheme, whereby the resident enjoys complete freedom of movement and there are no annual minimum stay requirements. In terms of tax benefits, the resident benefits from a Iow tax rate of 15 per cent on all income received in or remitted to Malta, subject to a minimum payment of 4,230 euro per annum.
However, the scheme was suspended early in 2011 over concerns that it was being abused. According to the government, the scheme is currently being reviewed in order to be re-launched,
Maltese professionals such as tax advisors, lawyers and accountants are recognised to be among the best in the world, and this excellent reputation is helping to expand the Maltese product offering as a wealth management centre. Across the globe, the wealth management industry is both expanding rapidly and increasing in complexity, as client expectations grow more sophisticated and competition intensifies. Malta, offering solid fundamentals, an excellent reputation for high standards of regulation and supervision, competitive costs and a highly-educated workforce, is proving to be one of the most interesting up and coming wealth management centres in the region.