Family Offices
What is a Family Office?
A family office is a private entity composed of qualified and experienced professionals appointed to manage a family’s assets and needs. The entity’s mission usually entails wealth planning to support the current and future needs of multiple generations whilst preserving the family legacy.
Thus, a family office requires competent professionals with expertise in corporate structuring, trust and estate planning, investment management, accounting and asset management and oversight.
Why Choose Malta?
A number of families choose to establish their family office in Malta due to the unmatched privileges offered through its sound legal framework, tax efficiency, supportive investment environment, global reputation and culture. In fact, the Maltese government committed to supporting the development of family offices in Malta in its Strategy for Financial Services launched in 2023.
Exceptional Legal Framework
Hybrid Legal System
Traditionally, the Maltese legal framework is based on civil law principles. However, it has also been greatly influenced by common law principles whilst under British Rule from 1800 to 1964. Therefore, the Maltese legal system serves as a hybrid legal system, offering a combination of the advantages of both legal systems. In fact, the Maltese legal system is the European jurisdiction which provides a framework for the incorporation of both foundations and trusts.
Innovative Legal System
Malta also boasts an extremely responsive legal system, constantly developing and introducing legislation to keep up with new and changing financial markets.
Tax Efficiency
The Maltese legal system also offers a transparent, fully onshore but highly competitive tax system which is complemented by over 70 Double Tax Treaties. Additionally, the tax legislation offers legal certainty and clarity, allowing families peace of mind. The Maltese tax system is also in full conformity with all EU legislation, ensuring and preserving Malta’s high reputation.
Supportive Investment Environment
Less Stringent Regulation
The Maltese legal system recognises the use of Private Collective Investment Schemes as a common form of investment vehicle used by family offices. Thus, it exempts Private Collective Investment Schemes from a number of stringent regulations which are applicable to all other forms of Collective Investment Schemes, preventing unnecessary costs and complications whilst also providing for flexibility in investments.
Investor Protection
The Maltese legal system’s hybridism provides for a diverse range of securities to financiers and lessors. Its incorporation of common law securities such as Mortgages and Security by Title Transfer complement Malta’s investor friendly environment, offering investors strong self-help remedies, preventing delays in enforcement and expenses being incurred during court proceedings. Malta has also ratified numerous international conventions, such as the Cape Town Convention, further enhancing the protection of Maltese investors.
Lifestyle and Culture
Malta has gained an exceptional reputation amongst travellers and expats as an affordable and welcoming destination. Located in the centre of the Mediterranean sea, Malta provides year-round sunny days and beautiful beaches, complemented by exquisite Mediterranean cuisine and seafood.
Malta also enjoys world-class healthcare (ranked among the top five in the world by the World Health Organization), one of the lowest crime rates in the world and a top-tier education system.
Residency
Malta offers a number of routes by which both EU nationals and Third-Country Nationals can obtain a residence permit. Kindly refer to our articles for further information on residency.
How can Zeta Assist?
Zeta Corporate & Management Services Limited is staffed with experienced professionals competent to assist clients with estate planning and other related services including trust formation, company incorporation, asset management, relocation and residency assistance, aviation and yachting, tax support, accounting and bookkeeping services.
Contact us today to see how we can assist you in achieving your goals.