![]() ![]() The Malta Financial Services Authority (MFSA) provides a sound regulatory and legislative framework which inspires confidence. Malta has benefited from a growing demand from investors for transparency as well as from fears among hedge funds that the EU was becoming increasingly hostile to outside firms.ĮU membership has positioned Malta on a level playing field with other European Union countries, and introduced passporting rights so that investment services and schemes may be registered in Malta and passported to any EU country. The sector should get a significant boost from Europe-wide regulation of the industry, as well as the preference for start-up managers to choose a jurisdiction that offers flexibility and responsiveness, tempered with pragmatism.” Malta’s professionals report that they have begun to win business from the more established fund jurisdictions. According to Finance Malta, the public/private initiative aiming to promote Malta’s financial services centre: “Whilst Malta may be the smallest European Union member state, it has developed a significant financial services sector and, within that, a growing hedge fund business. This is not just because of the fact that the climate is far superior to that of its main rivals in that category, Dublin and Luxembourg, but mainly because of Malta’s flexible yet robust regulation and reputation as a world-class centre for hedge fund services. Malta is already earning independent plaudits from within the hedge funds industry for its quality as a launch pad for fund vehicles. The later British ‘stay in residence’ eventually proved beneficial to Malta’s rise as a financial hub, via the legacy of the English language, with English commercial law having been grafted onto the island’s civil law system, alongside the “Anglo-Saxon” work ethic, as some like to describe it. Phoenician sailors, Roman centurions, Arab traders, pirates and Norman mercenaries were also drawn to the island’s natural harbours and strategic location between Europe and North Africa. Whilst it was the bloodthirsty pirates that first ventured from Europe into the Caribbean islands, invasions are nothing new to the Maltese either. However, financial regulations and practicalities are now convincing more and more early-stage managers to consider Malta as their domicile of choice, and not just because of the Mediterranean island climate with excellent tourism opportunities and 300 days of sunshine per year. ![]() Managers and promoters of start-up hedge funds will usually think of the warm tropical climates of Caribbean islands when thoughts turn to their preferred domicile for funds. ![]()
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