Malta: the ideal base for in­ter­na­tional com­pa­nies to op­er­ate from

The Malta Business Weekly - - NEWS -

Malta has reached the re­quired stan­dards that al­low in­ter­na­tional com­pa­nies in any sec­tor, but par­tic­u­larly in the financial ser­vices sec­tor, to be based here and be ser­viced by highly-qual­i­fied and highly-ex­pe­ri­enced pro­fes­sion­als, the Min­is­ter for Fi­nance Prof. Ed­ward Sci­cluna, said last week. He was ad­dress­ing an event held to cel­e­brate the fifth an­niver­sary of Al­ter Domus, a Euro­pean provider of Fund and Cor­po­rate Ser­vices, and its move to new of­fices in Mrieħel.

“The rea­son many com­pa­nies that used to op­er­ate in North Africa and the Mid­dle East are now bas­ing them­selves in Malta is not just the fact that we of­fer eco­nomic and po­lit­i­cal sta­bil­ity, but also be­cause here they can ob­tain the ser­vices of high-cal­i­bre pro­fes­sion­als and firms in the financial, ac­coun­tancy, IT and le­gal spheres,” the min­is­ter said. “Malta has be­come an ideal place from where com­pa­nies can op­er­ate and this is at­tract­ing all forms of in­vest­ment to the coun­try.”

Turn­ing to Malta’s tax regime, Prof. Sci­cluna said that gov­ern­ment is keen on de­fend­ing it from which­ever forces try to re­duce the is­land’s com­pet­i­tive­ness. “We don’t mind co­op­er­at­ing with any other coun­try, whether at Euro­pean or in­ter­na­tional level. We are in favour of ex­chang­ing in­for­ma­tion, we are in favour of trans­parency, and we are against any crim­i­nal be­hav­iour. How­ever, when it comes to our tax regime, we shall de­fend it. We’re against hav­ing any ef­fec­tive min­i­mum rate of tax­a­tion. Ev­ery coun­try has its own choice of tax­a­tion lev­els. Tax har­mon­i­sa­tion is def­i­nitely a red line.”

On his part, Al­ter Domus Group’s deputy chair­man, René Belt­jens, said that af­ter five years of op­er­a­tions in Malta, the com­pany is even more con­vinced that it pays to con­tinue to do busi­ness here and that there is po­ten­tial to grow.

Also present were Al­ter Domus’ Coun­try ex­ec­u­tive in Malta, Chris Cas­ap­inta, and other com­pany of­fi­cers. At present Al­ter Domus em­ploys 90 pro­fes­sio

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