Jeremy Leach, CEO of Managing Partners Group, has forecast that Malta will benefit more than any other financial centre in Europe from Britain leaving the European Union.
He predicted that Malta will be the go-to financial centre for British companies that still want to retain an EU presence.
“Malta offers several benefits, including an English-speaking and well-educated workforce,” Mr Leach said.
Other advantages include a tax-efficient regime and low cost of living, gives it the edge over Dublin, another English-speaking option for British companies. Another attraction for operators in the financial services industry is what Mr Leach describes as Malta’s ‘first class’ legislation on securitisation, making it the only EU jurisdiction outside Luxembourg with the legislation in place to offer these flexible tools.
“Any reputable firm that wants to continue doing unhampered business in the EU will seek to open a branch or secondary office in an EU member state and many will not wait for the two years to be up,” Mr Leach said, with reference to the two years of negotiations which will ensue after Prime Minister Theresa May triggers Article 50 next week.
In comments to the Times of Malta, Mr Leach said that Malta was not an ‘offshore jurisdiction’ like Gibraltar or the Isle of Man, but an EU country with solid legislation that can also serve as a gateway to the Middle East and the Commonwealth, which is an important aspect for British firms.
Mr Leach will be delivering his views on Malta’s attractiveness at a seminar in London titled, ‘The Malta Solution – Ahead of the Curve’, organised by Bank of Valletta Fund Solutions on March 30.