GM Corporate & Fiduciary Services Ltd

GM Corporate & Fiduciary Services Ltd was set up to further complement the portfolio of services which the Economicard Group of Companies offers to its overseas clients. This company is in fact involved specifically in the area of International Financial Services.Malta’s involvement in the Financial Services industry can be traced back to 1988 with the enactment of the Malta International Business Activities Act and the consequent concept of Offshore Companies. The Economicard Group was quick to tap into this market and a new company – GM Nominee Ltd - was set up in 1990 with the main objectives being the incorporation and administration of offshore companies.Subsequent changes in legislation brought about the phasing out of the offshore regime and in effect all offshore companies ceased to exist as such by September 2004, and consequently GM Nominee terminated its activities in 2004.New legislation was set up in 1994 which provided for the setting up of International Trading Companies – companies whose objects are carried out outside Malta and which benefit from a favourable tax treatment. Once again the Economicard Group quickly involved itself in this area by setting up yet another company – GM Corporate & Fiduciary Services Limited in 1998The financial services industry is a constantly evolving industry and GM Corporate & Fiduciary Services Limited endeavours to keep abreast of changes in relevant legislation. In fact during 2003, legislation was enacted to allow for the continuation of companies from Malta, as well as into Malta, and this too became another service which GM Corporate & Fiduciary Services Limited began to offer its overseas clients.Further to Malta’s membership in the EU in 2004, the International Trading Company set up has been phased out and replaced with an onshore company structure, therein referred to as the Malta Company. Such a company pays tax on a worldwide basis at the rate of 35% with significant tax refunds to shareholders based on the imputation tax system and with the possibility of confidential beneficial ownership.It was also in 2004 that the Remote Gaming Regulations came into force, which allowed companies in the online gambling industry to obtain licences to do business in Malta. Through the promulgation of this legislation, Malta became the first EU member-state to regulate remote gaming. In this respect, Malta soon established itself as a reputable jurisdiction and fast became one of the preferred jurisdictions for the establishment of remote gaming operations, which eventually led GM Corporate & Fiduciary Services Limited to ensure that it could accommodate its clientele in this field.Mission StatementGM Corporate & Fiduciary Services Limited is primarily concerned with the design and administration of tax efficient structures under local legislation to suit the requirements of the individual international client in a timely and cost efficient manner.