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From Kirsten Bischoff, Opalesque New York:
Since 2002 Malta has allowed firms to re-domicile in that country (foreign companies incorporated outside Malta may transfer their domicile to Malta without
winding up their foreign business). This and other steps the Maltese authorities have taken to make the country more enticing to outside businesses such as hedge funds seem to be working.
In a recent survey by International Fund Investment Magazine, European fund managers (70) considering re-domiciling to other areas in Europe ranked Malta second behind Switzerland, as their target destination. (Source). With 22% of those in the same survey saying they are considering re-domiciling, this could mean a boost in hedge fund presence for Malta in 2011.
In addition to allowing firms to re-domicile Professor JV Bannister, Chairman of the Malta Financial Services Authority (MFSA) explained during the recent Opalesque Roundtable Malta, the country has also worked to set itself apart from other European domiciles by allowing administrators (or hedge fund managers) to be located in any other recognized domicile - not necessarily in the country of Malta itself.
"In May 2004, we had about four hedge funds; today, between funds and sub-funds, we must have registered over 500, some open, some closed. And the net result is we are about 420 or 430. There was a lack of service providers...................... To view our full article Click here
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