MALTA: A safe European option for international business

Thursday 30 May 2013

Start time: 16:15 Conclusion: 18:00

Attendance is free of charge and will include refreshments.

Agenda16:00 - 16:15 Registration

16:15 - 16:20 Welcome - Mr Clas Romander, Delphi

16:20 - 16:50 Why Malta? - Dr Mark Fenech, Fenech & Fenech Advocates

16:50 - 17:35 The fiscal regime in Malta - Mr Mirko Rapa, PwC Malta

17:35 - 18.00 The UK angle - Mr Anders Grundberg, McGuireWoods LLP

18:00 onwards Networking and refreshments

VenueAdvokatfirman Delphi,Regeringsgatan 30-32,SE-11184 StockholmSweden

Attendance is by registration only and free of charge on a first come, first served basis. Please feel free to invite any of your colleagues or clients who you feel may be interested.

Register your interest by sending your details (name, surname, telephone and organisation) to csu@fenlex.com by 27 May 2013.

PARTNERS

Malta has earned its reputation as one of the most ideal locations for international companies to relocate their business interests, offering a sound, cost-and tax- efficient jurisdiction and acting as a hub from which to reach out to Europe, Africa and beyond.

Malta’s banks remained largely unaffected by the euro area crisis, averting the need for any government assistance and avoided what in other countries became a major source of fiscal overruns and distress. Malta has avoided the two essential sources of the euro area crisis. In fact, the deficit ratio has been moving in the right direction while the banking model followed by the core domestic banks remained prudent. Meanwhile, Maltese banks’ recourse to Eurosystem funding has been modest. This in itself is a good sign, reflecting the absence of banking distress.

Business Solutions

In successfully attracting more private investment towards Malta, the Government of Malta has created structures to eliminate bureaucracy where possible and create clear guidelines and regulations for setting up a presence in Malta.

Malta has made its mark as a smart island in more ways than one. It boasts a technical infrastructure like no other, with no technical barriers to business wishing to set up here. Not only does Malta benefit from a favourable geographic position but it also offers political and social stability, state-of-the-art telecoms, a wonderfully colourful history and culture, a multi-skilled and multi-lingual workforce, healthy industrial relations, accessible regulators with a “can do” attitude and a pleasant and secure living environment. Malta brings to the table a modern country with an open market economy, good corporate climate, advantageous tax regime, a low inflation rate, low unemployment and an excellent track record.

An Attractive Corporate Tax Regime

The Maltese legal and fiscal landscape is very inviting, and the limited liability company offers a convenient, tax efficient vehicle for carrying out trading or investment activities from Malta.

The standard rate of tax on income and chargeable gains is 35%. However, further to the application of a statutory right to refund, triggered by certain distributions of taxed profits, the overall effective Malta tax burden may be reduced generally to 5% in respect of such distributed profits. In some instances the effective Maltese tax burden is even lower.

The preferential corporate tax regime coupled with no withholding taxes on payments of interest, royalties, dividends to non-resident makes Malta an ideal jurisdiction in which to locate operations. A Maltese company may also benefit from over 60 Maltese tax treaties and the EU Directives to reduce or altogether remove foreign withholding taxes.

At the event you will learn more about Malta and the 360 degree package it presents offering excellent corporate structures and tax incentives. Malta is Europe’s best kept secret in this regard. Service providers and Government agencies design and assist with offering advice and incentives to facilitate your setting up, moving, or relocating to Malta. You are spoilt for choice: preferential corporate tax regime, income tax exemption for royalties on patents (copyright and trade mark royalties in the pipeline), advantageous income tax rates for High Net Worth Individuals and Highly Qualified individuals, and lest we forget, the best climate in the world.

Mark Fenech is one of the Partners at Fenech & Fenech Advocates, heads the firm’s Ship Finance department and is a member of the Ship Registration and Corporate law department. Since 1996, he has practiced in the area of ship finance and has gained considerable experience in advising various international banks as lenders in different transactions involving Mortgages registered over Malta-flag vessels. He has also advised Maltese and non-Maltese shipping companies in their capacity as borrowers and mortgagors and has also given advice and issued legal opinions on security documents governed by Maltese Law involving the registration of Maltese mortgages. He has vast experience on the Maltese law aspects in relation to security documentation connected with financings granted by major international Banks to Malta-registered corporate borrowers, leading up to the legal registration of Maltese Statutory Mortgages against the respective Malta flag vessel/s. Mark is currently the Chairman of Scandinavian Business Forum Malta (www.sbfmalta.com), a business council within the Malta Chamber of Commerce, Enterprise and Industry.

Dr Mark Fenech, Fenech & Fenech Advocates

Email: mark.fenech@fenlex.comTel: +356 21 241 232

The Speakers

Mr Clas Romander, Honorary Consul for Malta, Delphi

Clas Romander has advised issuers as well as underwriters on many equity and debt offerings for private and publicly listed companies. He has been involved in the establishment, organisation, sale and regulation of banks, securities dealer/broker companies and insurance companies. He has acted for a Luxembourg bank in a global equity offering, for several Swedish companies in their initial public offerings, acted for several Swedish and foreign companies in public offers for Swedish companies listed on the NASDAQ OMX Stockholm Stock Exchange and advised several Swedish companies listed on the NASDAQ OMX Stockholm Stock Exchange in regard to their listing requirements. He has advised management as well as investors in private and public companies in connection with MBOs/LBOs.

Email: clas.romander@delphi.seTel: +46 8 677 54 17

Anders practiced as a barrister for eight years before he was admitted as a solicitor in 1977. He concentrates on advising foreign businesses and private clients on establishment in the UK and elsewhere, international corporate structures, and related tax planning. He is a speaker at seminars on subjects relating to investing and/or moving to the UK and related tax issues.

Anders is the former managing partner of McGuireWoods’ London office. Prior to joining the firm, he was the founding partner of Grundberg, Mocatta Rakison LLP in London which became the London office of McGuireWoods. Anders is certified by the Law Society and the Bar Council. He serves as a director on the boards of various private companies in the UK and overseas.

Mr Anders Grundberg, McGuireWoods, LLP

Email: agrundberg@mcguirewoods.comTel: +44 20 7632 1604

Mirko joined the firm in 2002 and is a Tax senior manager. He has workedfor some time in the international tax department at PwC Berlin andcurrently provides tax advice to a varied portfolio of clients. He forms partof PwC’s European Union Direct Tax Group (EUDTG). Mirko also lectures in advanced taxation to students preparing for the ACCA and the Advanced Diploma in International Taxation examinations.

Mr Mirko Rapa, PwC

Email: mirko.rapa@mt.pwc.comTel: +356 2564 6738