Malta Financial Services  

As a leading financial hub, Malta brings together rigorous enforcement, high regulatory standards and entrepreneurial spirit, which have resulted in a rapid growth within the industry. As a result, Malta quickly transitioned from being regarded an offshore to an onshore jurisdiction, and along the years has proved itself a robust framework supporting both international and domestic economic activity.  

Over the years, Malta has proved its worth by being one of the first six countries worldwide to achieve advanced unity with the Organisation for Economic Cooperation and Development (OECD) on fiscal matters. In addition, Maltese financial legislation meets the standards of international best practice, and is today actively involved with the EU, the Commonwealth’s global supervisory policy, as well as of course, the OECD. 

This economic sector has witnessed a growth spurt over the last decade, with over 10,000 people currently employed in the Malta financial services sector, and represents a significant 13 per cent of the country’s GDP. Additionally, financial services operators have benefitted from lower compliance costs and fees and further streamlined dealings, a reliable execution of standards, as well as a significant reduction in bureaucracy. The Government of Malta consistently evaluates and upgrades Malta’s relevant regulations and legislation, ensuring that developments within the industry are addressed in order to maintain the Island’s competitiveness in this sector.

The Malta Financial Services Authority (MFSA) was established back in July 2002 and has since then held the role of being Malta’s sole regulator for insurance, banking, investment services and other activities related to the financial services industry. This body reports to Parliament annually as an autonomous public institution.

Since inception, the MFSA has been responsible for the supervisory functions that had been previously fulfilled by the Malta Stock Exchange, the Malta Financial Services Centre as well as the Central Bank of Malta. Today, the MFSA has also taken over the responsibility of Listing Authority as well as houses and manages the Maltese Registry of Companies.

Within the Authority, the Supervisory Council is currently responsible for monitoring, licensing and supervising financial services license holders, a Board of Governors has been appointed and is responsible for direction and policy, whereas the Board of Management and Resources is responsible for routine management practices, the Authority’s finances as well as for the general coordination of the MFSA’s administrative affairs. 

Our specialised Financial Services team consists of lawyers, tax specialists, accountants and finance professionals. Our competence in the field of Financial Services includes the following:

1. Anti-money Laundering Advice
2.  Banking Law
3. Corporate Law
4. Fund Incorporation and Administration
5. Gaming Company Services
6. Investment Services Licensing
7. Insurance Business Licensing
8. Trust Advice and Trust Protector Services

Trustee and Financial services is a vast genre of law that is ever consistently growing both in size and complexity. Several previously self-regulated jurisdictions are now turning to different forms and levels of regulation, and thus any advisor in this field should keep a keen eye open, not merely for national developments but also international changes. We are constantly up-to-date with legal and market developments and proficient at the different sub-categories of financial services.