Malta has reached the required standards that allow international companies in any sector, but particularly in the financial services sector, to be based here and be serviced by highly-qualified and highly-experienced professionals, Minister for Finance Edward Scicluna, said today. He was addressing an event held to celebrate the fifth anniversary of Alter Domus, a European provider of Fund and Corporate Services, and its move to new offices in Mrieħel.

“The reason many companies that used to operate in North Africa and the Middle East are now basing themselves in Malta is not just the fact that we offer economic and political stability, but also because here they can obtain the services of high-calibre professionals and firms in the financial, accountancy, IT and legal spheres,” the Minister said. “Malta has become an ideal place from where companies can operate, and this is attracting all forms of investment to the country.”

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Turning to Malta’s tax regime, Prof. Scicluna said that the Government is keen on defending it from whichever forces try to reduce the island’s competitiveness. “We don’t mind cooperating with any other country, whether at the European or the international level. We are in favour of exchanging information, we are in favour of transparency, and we are against any criminal behaviour. However, when it comes to our tax regime, we shall defend it. We’re against having any effective minimum rate of taxation. Every country has its own choice of taxation levels. Tax harmonisation is definitely a red line.”

On his part, Alter Domus Group’s Deputy Chairman, Mr René Beltjens, said that, after five years of operations in Malta, the company is even more convinced that it pays to continue to do business here and that there is potential to grow. Also present were Alter Domus’ Country Executive in Malta, Mr Chris Casapinta, and other company officers. At present Alter Domus has a staff of 90 professionals.

– Friday, 23rd October, 2015