As a result of Malta’s small size and limited resources, successive governments have focussed on the importance of the services industry for Malta’s economic sustainability, particularly the financial services industry. Particular attention has been devoted to establishing a sound regulatory regime and providing incentives to entice promoters to include Malta in their financial services operation. Malta is now becoming a leading jurisdiction for Financial Services operators, even more so following Malta’s accession to the European Union in 2004 and the adoption of the Euro in 2008.

The Malta Financial Services Authority (MFSA) is the single regulator responsible for the supervision and regulation of financial services in Malta. The MFSA is an autonomous public institution and reports annually to Parliament. The MFSA is flexible in its approach to novel ideas while constantly ensuring that Maltese licensed entities are subjected to a firm and prudent regulatory regime.

We have dedicated unit to handle licence applications and on-going compliance requirements. We service the following financial service operators:

  1. Investment Services
  2. Investment Funds
  3. Financial Institutions
  4. Insurance principals, agents and brokers
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Industry Service Offerings

RSM provides a wide range of services to operators in the financial services industry, at various stages of their operation, including:

Prior to deciding that Malta is the best choice for your business, we will be able to assist you providing preliminary advice and assistance on the regulatory regime applicable to your proposed operation. Our assistance would include details on the application process and an overview of what the MFSA will normally expect of you in terms of presence in Malta, application information and capital requirements.

At this stage, one would normally organise a preliminary meeting with the MFSA to have initial feedback from the regulator prior to proceeding with an actual application. Our services may also include assistance in introducing you to the relevant people or entities who you may work with in Malta such as compliance officers, local directors and other relevant services.

While the regulatory regime is of top importance in one’s decision to establish a regulated entity in a particular jurisdiction, the costs and fiscal implications of the operation will take a high second. In this regard, our services will involve advising on the relevant direct and indirect tax implications form your operation in Malta.

Apart from offering a favourable effective corporate income tax rate of 5% following tax refunds available in terms of Malta’s full imputation system payable to the shareholder of Maltese companies, our services will also include an examination of the business in order to assist on any Value Added Tax savings that the operation may avail of.

We will also be able to assist you with the tax implications in others jurisdictions through RSM’s network of international tax experts available throughout the globe.

We will assist you throughout the licence application process including communication with the regulator, management of the application process, and compilation of the relevant information together with collection and review of questionnaires and due diligence documents that will be submitted to the MFSA.

We can also assist you with your financial forecasts and the detailed business plan that the regulator expects from applicants and is aimed at providing the MFSA sufficiently detailed information on the proposed activity to understand the regulatory risk behind it.

Depending on the proposed activity and the availability of documentation and information on your part together with the proposed activity, the licence application process can take between three to six months, or more, usually depending on your ability to reply to the MFSA’s questions.