Financial statements audits

Financial statement reviews

Financial statements compilations

IFRS

Audit quality monitoring

Global audit technology

Systems and risk assurance

General business consulting

Market research

Business planning and performance improvement

Change and program management

Business intelligence and analytics

Business valuation and litigation support

Business process outsourcing and consulting

Our business solutions for family businesses center on alignment of all aspects of the family and business, including culture, vision, mission, values, governance, ownership, leadership, communication and policy development.

Grant Thornton has a wide professional network with a vast array of technical skills that is coupled with a drive to understand the business problem; we can set up the most efficient financial risk management structure that fits your underlying business structure and your risk appetite.

Data analytics is the process through which businesses leverage data to gain actionable insights and enhance their performance. This is based on a solid foundation of well-organised and accurate data. Many businesses have a large amount of data at their disposal however, most of them do not have the expertise to analyse the available data.

Bookkeeping & financial accounting

Payroll and personnel administration

Tax compliance within outsourcing

Compilation of financial statements

Business process outsourcing including back office and secretarial

Family business consulting

Startups

Company formation

Entities in Malta, including companies, partnerships, foundations, trusts and associations, have an obligation to disclose the ultimate beneficial owner/s (physical person) of the entities. A beneficial owner is defined as the individual (s) who ultimately owns or controls a legal entity or arrangement through direct or indirect ownership of a sufficient percentage of the shares or voting rights or ownership interest in that entity.

Internal audit

Risk management and internal controls consulting

Governance and risk management

Regulatory services

Risk modelling services

Forensic and investigation

A compliance audit is a detailed review which focuses on whether an organisation is in conformity with statutory laws as well as internal rules and decisions. This type of audit also assesses the effectiveness of an organization’s internal controls by identifying weaknesses in compliance processes whilst finding measures to enhance such processes.

The Maltese Citizenship Act (Cap 188) establishes who may become a citizen of Malta by naturalisation, provided that the applicant satisfies the relative provisions.

With the continuously changing global dynamics and evolving geopolitics, there is an ever-growing number of highly-talented high-net-worth individuals who are willing to invest and relocate to give themselves and their family members the chance to broaden their horizons and become part of a welcoming community.

Malta has enacted legislation which extends to individuals providing excellent or manifestly superior contributions in the fields of science, research, sports, arts and culture as well as people of exceptional interest to the Republic of Malta, the right to become Maltese citizens.

The Maltese Citizenship Act (Cap 188) establishes who can register as a citizens of Malta. The Act was amended on 1st August 2007, this making it possible for second and subsequent generations born abroad to acquire Maltese citizenship by registration.

For over 30 years Grant Thornton’s advisory teams have assisted family businesses in navigating the challenges of leadership and succession across generations

Preparing the next generation for leadership and ownership is an integral part of any succession process. Grant Thornton can help formulate the necessary grooming plan for all the potential successors.

Using a combination of reason and instinct, we can work with clients to develop a strategy that helps them understand and manage their tax liability in a transparent and ethical way.

Like all companies, family businesses need finance. As an ongoing business concern looking at expanding, when it comes to raising capital, it’s important that this is done wisely to minimise the risk of collateral damage.

Having a proper governance structure is essential to ensure that the family and business strategies are achieved. Grant Thornton can advise on this, and facilitate the implementation of the ideal governance structure based on the exact scenario.

Letting go of your family business is difficult for all owners and even more so for founders; however, in a family business the additional challenge presented by the family component increases the complexity of this process. Our team of family business advisors will ensure that such ownership issues are dealt with in an effective and structured approach.

There are many 'exit strategies' that need to be considered to minimise the risk of conflict. They can arise from the eventual exit of a family member from the ownership ranks and can have many causes. See how we can help.

By implementing our family business guidelines to family succession and a proper governance structure, the management succession process can be completed with minimal conflict and will result in the most competent successor being chosen.

Firms within the financial sector face a critical imperative to fortify their operational resilience in the digital sphere, particularly with the advent of the Digital Operational Resilience Act (DORA), set to take effect by January 2025.

Whether you are a multinational corporation, a small business, or an individual, the digital realm holds equal importance for us all.

IT business consultancy serves as a crucial bridge between technical solutions and strategic business objectives. Through comprehensive analysis, we identify opportunities for efficiency and innovation, providing actionable recommendations to enhance processes and maximise ROI.

Efficiently implementing new technologies or upgrading existing systems demands meticulous planning, strategic execution, and seamless integration. GT serves as a guiding force, steering businesses through complexities and facilitating a structured approach to technology adoption.

Information systems strengthens an organisation’s financial and operational processes. Grant Thornton Malta strengthens your organisation’s need for IT and information assurance.

Operational and financial restructuring and reorganisation

Recovery

Financial regulatory services

The General Data Protection Regulations (GDPR) have transformed the way we handle personal data. This regulation is a game-changer for businesses operating within the EU, or the handling of EU citizens' data worldwide.

Ship and aircraft registration

A study published in 2018 by market intelligence and strategic consultancy firm Prohibition Partners, has forecasted that the European cannabis market will be valued €115.7 billion by 2028. According to the same study, while patient numbers are currently below 100,000 across the region, their number is set to grow to over 30 million in the next decade. In 2018 Malta introduced a bill to legalise the use of medical marijuana and attract companies willing to produce high-grade medical cannabis for the European market.

As an entrepreneur, business owner, parent or guardian, you will want to ensure that whatever happens in the future, the rewards from your hard work can be protected as efficiently as possible. Grant Thornton Fiduciaire Limited (Grant Thornton) understands this and provides a professional and holistic trust management service.

The law establishes the requirement of a license for one to be able to act as a trustee subject to certain limited exceptions. One such exception is found in the Rules for Trustees of Family Trusts which provide for an exception to this rule where a trust is set up to hold property settled by a settlor or settlors for the present and future needs of family members or of family dependants who are clearly identifiable.

Direct international tax

Indirect international tax

Global mobility services

Transfer pricing

Estate planning

Wealth advisory

Regulatory and legal

Corporate services

At its simplest, VAT is a tax on consumption and is a multi-stage tax (ie applied at every stage of the production process), which is applied to both goods (ie tangible property) and services. Additionally, although the tax is ultimately borne by the consumer (by getting included in the price paid), responsibility for charging, collecting and passing the tax on to the tax authorities, rests with the supplier.

The following is a brief overview of the new tax provisions introduced in 2018 by the Budget Implementation Act (Act VII of 2018) and other legislative enactments

Mergers and acquisitions

Our ESEF reporting service is tailored to assist listed companies in complying with the European Single Electronic Format (ESEF) requirements. As of 2020, ESEF is mandated for annual financial reports of issuers with securities listed on regulated markets. We provide services for mapping the taxonomy and generating audit/regulator-ready xHTML reports.

EU funding

As of 2016, small and medium-sized enterprises in Malta can access the capital markets through Prospects - a market of the Malta Stock Exchange (MSE) designed specifically for Small and Medium sized Enterprises (SME). Prospects offers a cost-effective opportunity for entities looking to raise up to €5 million per issue.

Project financing

Due diligence

Valuations

Foreign direct investment (FDI) is the category of international investment that echoes the objective of obtaining a lasting interest by an investor in one economy in an enterprise resident in another economy.

WSM is a joint venture between the Malta Stock Exchange and the Irish Stock Exchange, combining the best of each partner’s processes and technical skills.

The government of Malta has made available several incentive programmes, aimed at supporting Maltese SMEs and start-ups. These support schemes are targeted at different stages of a company’s lifecycle and cover from the start-up to the consolidation and expansion phases. Such incentives are usually promoted and managed by Malta Enterprise, while Trade Malta focuses on supporting businesses to penetrate foreign markets.

The Maltese Government is constantly remaining to improve the position as the best place to do business within the aviation industry through exhaustive tax agreements, powerful legislation, and many aviation professionals. This is the best time for airlines, financiers and aircraft owners to be located in Malta.

For Maritime, Grant Thornton provide direction with regards to VAT guidelines for yacht leasing, as well as ship and aircraft registration.

We offer a broad range of services relating to automotive, ranging from Transaction advisory, access to finance, business advisory, process and inventory management, tax advisory, audit and advisory, outsourced support services.

SME Growth

Start-up investment

SME Diversification and Innovation

SME Internationalisation

SME Consultancy services

SME eCommerce

Blockchain technology

The Virtual Financial Assets Act provides a sound legislative framework for Malta to regulate and responsibly promote the use of cryptocurrencies, crypto-exchanges and other crypto-related services, through which Malta aims to promote further technological innovations and growth, and continue building on its robust financial services industry.

Our role as a VFA agent consists to assist, monitor and provide guidance throughout the full licensing process, and beyond the licensing stage. The VFA agent will be required to apply for the VFA license on behalf of the issuer.

Initial Coin Offerings (ICOs) in Malta have risen to prominence as a method to raise capital from the public, institutions or venture capitalists by selling a percentage of cryptocurrency to investors in the form of tokens in exchange for legal tender (smart contracts).

Malta recently overhauled the framework regulating the iGaming sector. Going forward operators will still be required to obtain authorisation to carry out regulated activities.

Prior to submission all applicants are advised to go through a pre-application process with one of the MGA’s Licensing Officers. This will ensure that the application has been correctly compiled and all the key ingredients are present.

As part of the 2019 budget, the government has pledged to introduce a Real Estate Investment Trust (REIT) framework in Malta.

MiFID II aims to protect investors and make sure that financial markets operate in the fairest and most transparent way possible. Building on stock and investment trading regulation introduced in 2007 it sets to ensure a more integrated financial market.

Malta-registered collective investment schemes (CISs) are generally not subject to Malta tax. Given that CIS are properly structured, such schemes generally can take advantage of a number of tax benefits. When it comes to taxation of investors in collective investment schemes, this will depend on what type of income is being received, whether the investor is a Malta resident or not, and if the shareholder is an individual or a body-corporate?