Chetcuti Cauchi Advocates, Malta Law Firm: this presentation provides an outline of the law governing investment services providers in Malta, a leading financial services jurisdiction.

1. Malta
Gateway to Europe for Investment Services Providers
Dr Charles Cassar
Senior Associate
1
© 2011 - CCMalta.com

2. Overview
 About the Firm
 Malta: An Overview
 The MFSA
 Investment Services
 Malta: Jurisdiction of Choice
2
© 2011 - CCMalta.com

3. About the Firm
Malta: An Overview
The MFSA
Investment Services
Malta: Jurisdiction of Choice
About the Firm
3
© 2011 - CCMalta.com

4. About the Firm
Multi-disciplinary
 Accountants
Legal Tax
 Tax Advisors
 Lawyers
 Mgt Consultants
 IT Advisors Corporate
Offices
 Valletta, Malta
 Nicosia, Cyprus
 London, UK Fiduciary
4
© 2011 - CCMalta.com

5. About the Firm
Malta: An Overview
The Regulatory Approach
Investment Services
Malta: Jurisdiction of Choice
Malta Jurisdiction Overview
5
© 2011 - CCMalta.com

6. Malta
Population: Multi-Cultural
413,609 History
Multi-Lingual
Commonwealth Independent EU Member
Member since: 1964 since 2004
OECD and
Onshore
FATF
Jurisdiction
Compliant
6
© 2011 - CCMalta.com

7. An Established Domicile
7
© 2011 - CCMalta.com

8. Business Environment
8
© 2011 - CCMalta.com

9. The Financial Services Sector
 A remarkable boom.
 A variety of set-ups:
 Investment advisors
 Wealth managers
 FOREX
 Fund managers
 Fund Administrators
 QROPS
9
© 2011 - CCMalta.com

10. About the Firm
Malta: An Overview
The MFSA
Investment Services
Malta: Jurisdiction of Choice
The MFSA
10
© 2011 - CCMalta.com

11. MFSA: The Regulator
Single
Professional Flexible
Regulator
Approachable Responsive
11
© 2011 - CCMalta.com

12. About the Firm
Malta: An Overview
The Regulatory Approach
Investment Services
Malta: Jurisdiction of Choice
INVESTMENT SERVICES OVERVIEW
12
© 2011 - CCMalta.com

13. Legal infrastructure
13
© 2011 - CCMalta.com

14. Investment Services: Licensing
Investment Financial Licensing
Service Instrument Requirement
14
© 2011 - CCMalta.com

15. 15
© 2011 - CCMalta.com

16. Investment Services: License Categories
16
© 2011 - CCMalta.com

17. Overview of the Licensing Process
Application submission and regulatory review
Queries / In Principle approval
License
17
© 2011 - CCMalta.com

18. Local Presence
 Substance
 Flexibility
 Reasonableness
18
© 2011 - CCMalta.com

19. Tax treatment of Investment Services Companies
 35% Corporate tax, 6/7ths refund
 Fund management and administration: VAT exempt without
credit
 15% rate for Highly Qualified Persons
 EUR 75,000 – EUR 5,000,000
 Broadly applicable: CEO, CFO, portfolio manager, senior
trader
 Benefits for investment services expatriates
19
© 2011 - CCMalta.com

20. About the Firm
Malta Jurisdiction Overview
The Regulatory Approach
Investment Services Overview
Malta: Jurisdiction of Choice
MALTA: JURISDICTION OF CHOICE
20
© 2011 - CCMalta.com

21. Malta: Jurisdiction of Choice
Cost
Effective
Skilled and
multi- EU
lingual Jurisdiction
workforce
MALTA
Reputable Ideal
Financial geographical
Services location and
Jurisdiction climate
21
© 2011 - CCMalta.com

22. info@cclex.com
Thank You
22
© 2011 - CCMalta.com