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:
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 support.