Insurance and Investment Services are two main pillars of the financial services industry. Both areas are regulated by the competent authority which is empowered to supervise and grant its authorisation in terms of the relative legislation.
The business of insurance in Malta is regulated by the Insurance Intermediaries Act which deals with the authorization and supervision of insurance companies. The competent authority referred to in the Act has the task of supervising and licensing of insurance companies. It is also possible for companies to locate their captive insurance business and insurance management activity resulting in a reliable and tax sufficient environment. An affiliated insurance company underwriting risks situated outside Malta is enabled to operate the foreign income account and, subject to certain conditions, a refund on tax on distributions from this account will be made available. It is also possible for an insurance manager to be appointed by an insurance broker to manage any part of its business, to exercise managerial functions therein or to be responsible for maintaining accounts and other records of such insurance broker. For further information on the subject please do not hesitate to contact us and our team of lawyers and professionals will be available to assist you.
Investment Services are regulated by the Investment Services Act which describes the various instruments and services regulated by the Act. The instruments regulated include securities, options, swaps and collective investment schemes whilst the services regulated include investment advice and management.
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