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Asian Wealth Solutions Forum 2019 - Exclusive Insights - Ivan Grech

Ivan Grech of FinanceMalta

Nov 13, 2019

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1. What are the most important factors in selecting an IFC? Are your Asian clients sufficiently inquisi-tive about the quality and integrity of the IFCs they use?

Video transcript

1. What are the most important factors in selecting an IFC? Are your Asian clients sufficiently inquisi-tive about the quality and integrity of the IFCs they use?

One needs to consider a number of factors when considering the choice of an International Financial Service centre. One of the things, definitely, is the availability of the infrastructure, and the ecosystem that exists within that that IFC. Another is the costs that are involved. I can say that in that, in this re-spect, for example, Malta is very well placed. Because first of all, Malta is an EU jurisdiction, so with all the advantages that comes with being an EU jurisdiction, and all the passporting rights into the rest of the European countries. If you look at costs as well, for example, Malta offers some very, pretty good advantages in that respect when compared to the more established jurisdictions. There's also the fact, for example, that all legislation in Malta is written in English and Maltese, which is the local language. But one advantage over there is that the English language takes precedence over the Maltese in the courts of law. So that gives clarity and perspective to whoever's setting up in the jurisdiction. Another issue is, for example, the closeness of the regulator to the industry. So, I think that's another ad-vantage that Malta has, in the sense that it has one single regulator for all the financial services and a very approachable regulator, very business oriented, very, very tough and strict. But at the same time, very approachable. And that's another important aspect.

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