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Malta makes headlines as a Centre for Contact:
2005 has been a very eventful year for the captive insurance industry in Malta. Two international captive management firms, namely Marsh and AON, and two local insurance management firms have been licenced by the Maltese Financial Services authorities (MFSA) to manage insurance companies and captives. This has added depth to the complement of insurance managers previously licenced in Malta. Three captive insurance companies have been licenced in Malta so far this year and it is reputed that a growing number of captives will also be licenced shortly. Two captives have so far re-domiciled their seat from other jurisdictions to Malta. Some of the attractions which have appealed to our clients when considering Malta are: § European Union membership and the corollary right
of Maltese insurance companies to passport their licence into all EU and
EEA states. This allows a Maltese registered captive to carry on insurance
business throughout Europe. § Malta’s extensive double tax treaty network. Malta has treaties with 41 countries. § Malta’s Protected Cell legislation. § Malta’s sound company and fiscal legislation. § MFSA’s positive approach to regulation of the insurance industry. § A comparatively low costs base in the EU. |
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