The Malta Stock Exchange houses both the Admission to listing
and trading operations that are synonymous with normal exchange
business, as well as the Depository services that comprise the
clearing and settlement duties, the full range of register
administration services as well as custodial services.
During the last year, a number of unlisted companies have chosen
the MSE's depository to administer their shareholders'
register, which is operated in a dematerialized environment, and
make the best use of the Depository's relationship with
Clearstream. This registry service is very cost effective since it
offers the organisation a seamless process of handling of all
administration, management and notarial functions that go hand in
hand with the service, as well as international access to the
depository's platform through the Clearstream custodial
relationship. The Company seeking such a service may be registered
in Malta, or may be completely independent of the Maltese domicile,
being incorporated elsewhere and having non Maltese shareholders.
Of course, the due diligence process in respect of the shareholders
and directors of the company would need to be carried out, however
in circumstances where the applicant is already a financial
services licenced entity, this may not be required.
It is interesting to note that whilst this service remains of
prime interest to organisations that are listed and traded on the
Malta Stock Exchange, the service is also being availed of by an
increasing number of unlisted organisations that clearly recognize
its cost effective and efficient operation. The Malta Stock
Exchange is a relatively young Exchange which is a significant
member of the Maltese financial services sector but which, through
its Clearstream custodial relationship and the use of the Xetra
trading platform, is carving out a niche of specialised services
available to international organisations.
Malta Stock Exchange
Valletta VLT 1063
In this article, Richard Grasby and Charlie Sparrow cover the various uses they have seen for BVI private trust companies ("PTCs") in the past 12 months, demonstrating the wide variety of opportunities for which PTCs can be used by Chinese families and businesses.
Confidentiality of corporate documents and information is one of
the key attractions of incorporating a company in the BVI. A
company search of the BVI Registrar of Corporate Affairs will only
disclose certain information and documents.
FATCA is a US federal law that aims to reduce tax evasion by US persons. FATCA has significant extra-territorial implications and, most notably, requires FFIs to report information on accounts of US taxpayers to the IRS.
VISTA trusts, as they are commonly known, came into existence in 2004 with the enactment in the British Virgin Islands ("BVI") of the Virgin Islands Special Trusts Act 2003 ("VISTA").
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