Malta's decreasing debt levels and large banking system were the key factors contributing to the positive affirmation by Fitch Ratings. Malta’s resilient economy benefits from its strategic location in the Mediterranean and its European Union membership. This resilience is also reflected in Malta's 48th position out of 140 countries on the World Economic Forum's 2015-2016 Global Competitiveness rankings.
The largest increase of Foreign Direct Investment in 2015 was registered in financial and insurance activities by €3.7 billion according to the August 2016 Report of the National Statistics Office (NSO). The NSO figures reflect an increase in activity across all regulated financial sectors, with an increase in licensing activity noted particularly in the electronic money and payment services sector, insurance cell companies, retirement schemes and investment intermediation.
The level of growth continues to be sustained by new legislation introduced in recent years, including changes in retirement pensions legislation, the extension of cell company legislation to new areas of the financial and insurance service activity, the introduction of the loan funds framework and changes in limited partnership legislation.
Malta has recently placed itself under the spotlight as an international financial centre which is both dynamic and responsive with the launch of the new Notified Alternative Investment Fund (NAIF) which improves the structuring process and the time-to-market for new collective investment schemes.
For further information on the corporate, fund administration and depositary services we offer in Malta, please don’t hesitate to contact Neville Carabott