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.
Agenda
16:00 - 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
Venue
Advokatfirman Delphi,
Regeringsgatan 30-32,
SE-11184 Stockholm
Sweden
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
[email protected] by 27 May 2013.
PARTNERS
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.
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, stateof-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.
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: [email protected]
Tel: +46 8 677 54 17
Dr Mark Fenech, Fenech & Fenech Advocates
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.
Email: [email protected]
Tel: +356 21 241 232
Mr Mirko Rapa, PwC
Mirko joined the firm in 2002 and is a Tax senior manager. He has worked
for some time in the international tax department at PwC Berlin and
currently provides tax advice to a varied portfolio of clients. He forms part
of 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.
Email: [email protected]
Tel: +356 2564 6738
Mr Anders Grundberg, McGuireWoods, LLP
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.
Email: [email protected]
Tel: +44 20 7632 1604