Maltese Trusts Sector Represented At Key Industry Event
Wednesday, July 4, 2012
FinanceMalta, the public-private partnership set up to promote Malta's financial
services sector, represented Malta’s International Financial Centre at the
recent 27th Transcontinental Trusts Conference 2012.
The Geneva conference is widely regarded as one of the most prestigious in
the trust industry with over 150 delegates from 10 jurisdictions in attendance.
Over 30 speakers delivered presentations over the two-day event including a
panel presentation to delegates by Malcolm Becker, CEO of Bentley Reid Trust
in Malta, who described the audience as highly motivated to learn more about
Malta: “Our presentation focused on the relocation of various structures to
Malta, both in the corporate as well as in the trusts and other fields, and
highlighted the benefits associated with Malta as a leading onshore European
financial services centre."
The Transcontinental Trusts Conference discussed the current issues faced by
trustees on new regulation from Europe and beyond. Sessions covered a variety
of critical topics and new approaches, as well as an update on recent cases.
This year, eight separate Breakfast Briefings were conducted during the course of
the conference with topics ranging from Asset Protection to residence and
citizenship. The conference itself rotated around five key themes:
- Key Issues Facing Trusts & Trustees;
- Focus on Trust Companies;
- Focus on Switzerland;
- Overview of Jurisdictions; and
- Small IFCs in the Spotlight.
The Small IFC Session included: ’IFCs & the European Union' in which the
Malta delegation discussed new business opportunities for Malta’s practitioners
and the industry’s increasing potential for growth.
The financial services industry is
one of the key pillars of the Maltese economy along with tourism, manufacturing
and business services, providing over EUR1bn of revenue to the economy. The delegation highlighted Malta as a financial gateway to Europe, offering a number of
attractions including a benign tax environment, stable economy, liquid markets,
skilled workforce, cost-efficient business infrastructure, and advanced IT