An Island World
The authorities have put in place a number of incentives to attract companies and professionals to the island. The island’s unique appeal, which at times combines a big city vibe with Mediterranean charm, is also playing a role in making Malta an attractive place to work and live. Residents enjoy an exceptional standard of living: 10 months of sunshine, an English-speaking population, and a Mediterranean island setting in which it is easy to find one’s way around. For years, Malta had a reputation of being a relatively inexpensive place. Although costs are rising, the overall cost of living in Malta is still lower than in the majority of European cities.
Malta enjoyed 15 years of uninterrupted growth within its financial services industry, which saw the sector grow in size and stature. Clients from all over the world have come to appreciate the abilities of Maltese practitioners. The country’s strengths should not be underestimated. The island remains one of the most competitive choices in Europe, and investors believe in Malta. The actions being taken are clearly having the desired effect as business continues to flow into Malta, which is a strong endorsement of the steps the country is taking. As financial companies the world over are strengthening their position in the financial technology race, Malta’s move into digital finance also offers massive growth potential.
While cryptocurrencies might be the poster child of virtual finance, and Malta’s decision to regulate blockchain technologies turned out to be a headline grabber, the island’s policy-makers highlight that this is just the beginning of what will be a very ambitious journey.
There is no doubt that technological disruption has and will continue to change the face of financial services. The future of finance might look very different, and today’s smart digital business models only offer a glimpse of what is yet to come. With a focus on innovative technologies, a cutting-edge regulatory environment and a willingness to embrace digital disruption, Malta is transforming itself to rise above the competition and become a trusted partner for next-gen finance companies