In the light of the growth of the Chinese financial services industry, Malta should seek to attract Chinese financial institutions to its shores. This statement was made by Malta’s Finance Minister Prof. Edward Scicluna during the annual General Meeting of the Maltese Chinese Chamber of Commerce. Malta is strategically positioned to serve as a gateway to Chinese investment seeking to enter the European market, enabling the island to widen its financial services infrastructure, including its securities market.
There are a number of incentives from which Chinese investors can benefit, such as the 5% effective corporate tax rate for non-resident shareholders of international trading companies. Moreover, Chinese making use of Malta as their financial location can also benefit from the double taxation agreement in force between the two countries.
The strong relations between Malta and China date back several years and these have been enhanced by the recent Memorandum of Understanding between the governments of the two countries in the energy sector. The fusion of experience and abilities which both countries have to offer could result in a strong business relationship and stimulate expansion in various business areas, particularly financial services.
