FinanceMalta Conference - Malta: Much more than a ‘brass plate’ jurisdiction

Insurers and brokers who come to Malta must occupy office space and employ local staff, rather than ‘just have a brass plate on a door to take advantage of the tax environment’.

This is the opinion of Kenneth Farrugia, chairman of FinanceMalta.

Farrugia says that this needs to happen, because otherwise there is no extra value added to Malta’s economy.

“We need these organisations to employ people, and we encourage them to send their senior executives to the island as well,” he says.

This tactic appears to be working, as Malta plays host to several big insurance industry players.

“These include the likes of Heath, Marsh, Munich Re and Willis,” he says.

“They all have physical operations here, as we have been very careful not allow just brass plates.”

Farrugia made these comments prior to FinanceMalta’s 5th annual conference. 

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