Legal framework that provides flexibility and clarity to families

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Because of the country’s history, the Maltese legal system is based on civil law (Roman law) but also has a strong component of common law, typical of the Anglo-Saxon legal tradition. This allows a great degree of flexibility that spans from traditional structures based on civil law, such as foundations, to more innovative concepts such as trusts. Malta is, in fact, the only European jurisdiction in which both foundations and trusts can be established.

The flexibility in structuring opportunities is accompanied by clarity and certainty in terms of tax legislation, another element which is sought after by families willing to protect their wealth in an efficient, yet lawful manner. Laws france mobile database are also available in English, one of the official languages of Malta, which allows a direct understanding of the regulation by families. This clarity is complemented by an extensive network of Double Taxation Agreements that Malta has in place with over 80 countries.

Innovative systems to address the needs of third and fourth generations
The increase in popularity of family office structures clearly represents an opportunity for a country like Malta, and this has been acknowledged by both the local industry and by the government. Family offices were included among the opportunity areas in the strategy for financial services launched in March 2023.

While the mass of wealth owned maintains its importance and needs to be taken into consideration, each family has its own views in terms of wealth distribution, application, and succession. The different, and unique problems that a family office now faces in its third or fourth generation require new, innovative systems that help families address them in the best possible way. Malta is gearing up to create all the conditions that usually drive decisions by family offices to establish operations in a jurisdiction and enhance them based on how family offices have evolved in recent years.