Over the past decade, Malta has increasingly expanded its role as an international financial services centre, and financial services’ contribution to the island’s GDP has grown to circa 12% in 2006. This positions the financial services industry as the fastest-growing sector in the Maltese economy, powered by a positive legislative framework and a strong pro-business attitude.

On the 1st May 2004, Malta became a member of the EU. This development has significantly contributed to accelerate the growth of the financial services sector in Malta. Another important development will take place on the 1st January 2008 when Malta introduces the euro as the national currency.
Operating an EU compliant regulatory regime, Malta boasts a professional multi-lingual and skilled workforce, providing an excellent business environment at very competitive costs when compared to those found elsewhere in Europe.
The additional advantages Malta offer such as location and the double tax treaty with Spain, which came into force with effect from 1st January 2007, have contributed to the interest that Spanish businesses have shown in using Malta for their operations and structuring plans. One of the first activities organised by Finance Malta will be two financial services seminars to be held in Madrid and Barcelona on the 4th and 5th December 2007 respectively, with the theme “Investment Opportunities in Malta, and Malta as a Base for International Activities”.

The scope of the financial services seminar is to highlight the advantages that Malta offers with a view to expanding the business relationships between the two countries and to provide an opportunity to hear from, and network with, leading professionals of the Industry on the Maltese Islands.

Please do not hesitate to contact Dr. James Muscat Azzopardi on jamesma@ma-advocates.com for more information in this regard.