The report made twice a year by the initiative Long Finance has not only outlined the spectacular performance of Jersey in the global financial centres’ list but also highlighted Malta as a jurisdiction, which rivals with such prominent cities in the finance world as Luxembourg, Zug and Geneva.
Malta Financial Services moved from 70th to 72nd place. But the island country still enjoys the place in the top 10 offshore centres, despite the fact that it is a member of the European Union.
Financial services industry contributes about 12% of the country’s GDP. According to FinanceMalta, the public-private initiative created to promote jurisdiction’s international financial services, Malta is the key location for wealth managers, family offices, high net worth individuals. The experts of FinanceMalta also think that the jurisdiction has begun to appeal to a wide audience as evidenced by the growth of the financial services industry over the last couple of year