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Malta's Brexit benefits

Malta is anticipated to benefit greatly from Brexit due to its position as a financial centre with significantly fewer drawbacks than other European countries according to Chief Financial Officer at MPG, Jeremy Leach.

Malta will benefit more than any other financial centre in Europe from Brexit, according to an international asset management group.

As Paris and Frankfurt battle over “Brefugees” more companies could actually choose to move to Malta’s shores because it offers significantly fewer drawbacks than its European Union counterparts.

Jeremy Leach, Chief Executive Officer at MPG, said: “Malta will be the biggest beneficiary following Brexit. After London, it should be the first choice for a financial firm to establish a branch or secondary office because its residents speak English and are well-educated, it provides easy access to the EU and it has an efficient regulatory process.

“It is politically stable, which is not so easy to say with regards to Italy and even France, while it also has a great financial rating, unlike Greece.

“Dublin is good and it offers English but it is more expensive and less tax-efficient than Malta while all the other options in Europe such as Luxembourg, Liechtenstein, Norway, Switzerland or Gibraltar have one or more flaws that weaken their case.”

Jeremy Leach says Malta also has a number of advantages that are supporting its emergence as one of the world’s most important financial jurisdictions. These include its membership of the European Union and the Commonwealth, its tax framework, both domestically and internationally with 65 tax treaties with other countries and the legislation it has put in place around securitisations means it is the only EU jurisdiction outside of Luxembourg that has the legislation in place to offer these flexible tools.

Article published by The London Economic

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