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Matthias Knab, Opalesque:

Taurus Orators, the well-known alternative thinking group, have persuaded the Maltese Authorities to declare the Maltese island of Filfla as a tax free zone to encourage hedge fund managers to move to Malta and to domicile funds within the EU.

The Three Maltese Islands of Malta, Gozo and Comino are well known to the international community, but the island of Filfla has never featured although it is in close proximity to the west coast of the main island of Malta.

Filfla is famous as being used by the cinema industry as the setting for the imprisonment of the Count of Monte Cristo.

Malta itself has become a popular destination for the setting up and domiciling of hedge funds within the EU.

The move by Malta is likely to be controversial with Brussels who is very keen to have tight control over hedge funds and is imposing stiffer and stiffer rules on hedge funds in the form of AIFMD, and also plans to restrict the financial remuneration of hedge fund managers.

Dr Adolph R Shole, the Chairman of Taurus Orators is absolutely delighted with the Maltese authorities’ acceptance of Taurus Orators proposal and will be marketing the island to the hedge fund industry.

Dr Shole added: "At long last a European country has realized the value of the hedge fund industry’s contribution to the financial stability of the global economy. The traditional financial centers of London, Dublin and Luxembourg will have strong competition."

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