News | Wednesday, 02 December 2009

Malta, a favorable jurisdiction for family offices

FinanceMalta in conjunction with Campden Conferences, a division of Campden Media which is a specialist business-to-business information provider specialising in Wealth Management organised a seminar in London aimed at Family Offices and Family business.
The half day business forum attracted some 80 foreign families in business, high net worth private investors, executives from private investment and family offices, and their close advisors. Over 20 local members of FinanceMalta also attended the event as speakers or delegates in order to maximise on the networking opportunities.
Kenneth Farrugia, Chairman of FinanceMalta, introduced the forum and provided an overview of the developments and milestones that have shaped the financial services industry over these last twenty years to where it stands today and the vision going forward.
This session was then followed by a panel consisting of Francis Vassallo and Ramona Piscopo covering the advantages to be considered by European Family Businesses and Family Offices when investing in Malta.
Alan Camilleri, Executive Chairman of Malta Enterprise spoke about the opportunities and incentives available for family businesses and family offices interested in investing in Malta.
A panel discussion was then held to provide information on the legal and regulatory framework, the Banking Sector in Malta, Trusts and the Funds Industry.
The panel consisted of Max Ganado, Charles Borg, Diane Vella Bianco, and Charles Azzopardi and moderated by Geneva based Lee Thistlethwaite, an independent non-executive director and consultant to several family groups, provided information on their respective sectors of the Maltese wealth management industry as well as the wide range of services and products created to meet the growing demands of family businesses and family offices.
Josef Formosa Gauci, Chief Executive at the Malta Tourism Authority concluded the proceedings through a presentation which highlighted the lifestyle and quality of life in Malta driven by the diverse range of cultural and leisure events that would compliment the quality of life of the personnel operating their business from Malta.
On this conference, Kenneth Farrugia, Chairman of FinanceMalta said that “this event was the first of its kind to be organized by FinanceMalta aimed at family offices and family businesses and its outcome is a clear confirmation of the opportunities that exist to attract this market segment to set up their business in Malta”.
In addition, Kenneth Farrugia said that “the conference was also a first insofar as the program content which was structured in a three pronged manner to provide information on the financial services industry, the non financial economic sectors and equally important the quality of life/lifestyle one expects to experience in Malta.


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02 December 2009


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