Malta: Striving forward when it comes to company formations
Valletta: The Financial Action Task Force (FATF) has now officially re-evaluated the state of Malta on the basis of its fulfilment of international standards and awarded it the rating "trustworthy". With this, Malta joins the remaining 26 states of the EU as a reputable jurisdiction, ending its short stint of increased monitoring by the FATF.
The FATF is a global anti-money laundering institution. It monitors the integrity of the international financial system across countries. Thus, as the responsible organisation, it has put an end to the discussions surrounding the 'GREY LISTING' of Malta, the well-known financial centre of the Mediterranean.
The Prime Minister of Malta, Robert Abela, said in the Malta Independent: 'Malta has implemented its action plan for new regulatory standards in record time. At the same time, we have managed to maintain strong economic growth with high levels of employment'.
The fact that the archipelago in the Mediterranean is making a fresh start in economic and financial matters can already be felt at a grassroots level.
Dr Hermann Kresse, CEO of Dr Kresse International Law, a leading law firm on the island for German-speaking clients responded as follows: 'Since the FATF decision, we have noticed strong growth rates in the area of new advisory client engagements. This is especially true in the areas of company formations in the online sector and the establishment of new companies in Malta. This varies from small start-ups to large corporate structures'.
During the company formation process, the lawyers and consultants of the Law Firm will focus on the general structuring of business set-ups, including tax optimisation and the creation of holistic infrastructures for new companies. This ranges from the choice of office location to the appropriate selection of human resources.
Kresse International Law Firm, together with the KME Consulting Group, a German-Maltese network of high-calibre experts from a wide range of business sectors, has successfully supported new settlements on the island of Malta for the past 10 years, in successful collaboration with Maltese institutions and decision-makers.