-
Financial statements audits
Financial statements audits
-
Financial statement reviews
Financial statement reviews
-
Financial statements compilations
Financial statements compilations
-
IFRS
IFRS
-
Audit quality monitoring
Audit quality monitoring
-
Global audit technology
Global audit technology
-
Systems and risk assurance
Systems and risk assurance
-
General business consulting
General business consulting
-
Market research
Market research
-
Sustainability
Sustainability is indeed a broad concept. Aside from mitigating the environmental changes caused by the interaction of the industrial world and society with nature, social and governance matters are subjected to increased public and government scrutiny, calling for the promotion of a sustainable performance agenda.
-
Business planning and performance improvement
Business planning and performance improvement
-
Change and program management
Change and program management
-
Business intelligence and analytics
Business intelligence and analytics
-
Business valuation and litigation support
Business valuation and litigation support
-
Business process outsourcing and consulting
Business process outsourcing and consulting
-
Family business 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.
-
Quantitative small caps
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
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.
-
Grants and Funding
At Grant Thornton, we specialise in providing comprehensive assistance to navigate the complex landscape of National and European Union (EU) funding. Our team of experts are dedicated to assisting you to access the financial resources you require to turn your vision into reality.
-
Bookkeeping & financial accounting
Bookkeeping & financial accounting
-
Payroll and personnel administration
Payroll and personnel administration
-
Direct and Indirect tax compliance
Tax compliance within outsourcing
-
Compilation of financial statements
Compilation of financial statements
-
Business process outsourcing
Business process outsourcing including back office and secretarial
-
Family business consulting
Family business consulting
-
Startups
Startups
-
Company formation
Company formation
-
BOR
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
Internal audit
-
Risk management and internal controls consulting
Risk management and internal controls consulting
-
Governance and risk management
Governance and risk management
-
Regulatory services
Regulatory services
-
Risk modelling services
Risk modelling services
-
Forensic and investigation
Forensic and investigation
-
Compliance audit
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.
-
Citizenship by naturalisation
The Maltese Citizenship Act (Cap 188) establishes who may become a citizen of Malta by naturalisation, provided that the applicant satisfies the relative provisions.
-
Citizenship for Exceptional Services by Direct Investment
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.
-
Grant of Citizenship for Exceptional Services
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.
-
Acquisition of citizenship by registration
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.
-
Maltese Family Businesses Resource Centre
For over 30 years Grant Thornton’s advisory teams have assisted family businesses in navigating the challenges of leadership and succession across generations
-
Grooming
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.
-
Tax services
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.
-
Access to finance
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.
-
Governance
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.
-
Ownership succession
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.
-
Exit strategies
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.
-
Management succession
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.
-
DORA Consultancy
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.
-
Cyber security Consultancy
Whether you are a multinational corporation, a small business, or an individual, the digital realm holds equal importance for us all.
-
IT business consultancy
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.
-
Technology Implementation & Project Management
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.
-
IT Audit and Assurance
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
Operational and financial restructuring and reorganisation
-
Recovery
Recovery
-
Financial regulatory services
Financial regulatory services
-
GDPR consultancy
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
Ship and aircraft registration
-
Medical cannabis licensing in Malta
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.
-
Trust and trustee services
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.
-
Family trusts
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.
-
Programmes
Grant Thornton is authorised and regulated by the Government of Malta to handle and submit applications for both citizenship applications as well as residence permits under the various residence programmes available in terms of Maltese law.
-
Ordinary residency in Malta
Any EU, EEA or third country national who resides in Malta for more than 3 months is obliged to apply for a Residence Permit. There are various grounds upon which an applicant may apply to require a residence permit, including: Self-Sufficiency, Employment or Self-Employment, Family Members, Permanent Residence, Study Purposes.
-
Qualifying Employment in Aviation Rule
Malta provides qualified persons employed in the field of aviation with an opportunity to enjoy a 15% flat personal tax rate on income generated from their direct employment in Malta. For a candidate to qualify, their annual income must exceed €45,000. This does not include the value of fringe benefits and applies to the derived income received from an eligible office.
-
Qualifying Employment in Innovation and Creativity (Personal Tax) (Amendment) Rules, 2019
These Rules allows persons employed in a role directly engaged in carrying out, or management of research, development, design, analytical or innovation activities, to enjoy a 15% flat personal tax rate on income generated from their direct employment in Malta.
-
Qualifying Employment in Maritime and Offshore Oil & Gas Industry Rule
Malta provides qualified persons employed in the field of aviation, with an opportunity to enjoy a 15% flat personal tax rate on income generated from their direct employment in Malta.
-
Nomad Residence Permit
The NOMAD residence permit, which was launched in June 2021, allows third-country nationals who would normally require a Visa to travel to Malta, to retain their current employment based in another country whilst legally residing on the island.
-
Direct international tax
Direct international tax
-
Indirect international tax
Indirect international tax
-
Global mobility services
Global mobility services
-
Transfer pricing
Transfer pricing
-
Estate planning
Estate planning
-
Wealth advisory
Wealth advisory
-
Regulatory and legal
Regulatory and legal
-
Corporate tax services
Corporate services
-
VAT
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.
-
2018 Amendments of the Income Tax Act
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
Mergers and acquisitions
-
ESEF Reporting
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
EU funding
-
Prospects MTF
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
Project financing
-
Due diligence
Due diligence
-
Valuations
Valuations
-
Foreign direct investment
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.
-
Wholesale Securities Market
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.
-
Investment Support
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.
-
Aviation
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.
-
Maritime
For Maritime, Grant Thornton provide direction with regards to VAT guidelines for yacht leasing, as well as ship and aircraft registration.
-
Automotive
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.
-
Blockchain technology
Blockchain technology
-
The Malta Virtual Financial Assets Act
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
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
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).
-
Gaming Regulations
Malta recently overhauled the framework regulating the iGaming sector. Going forward operators will still be required to obtain authorisation to carry out regulated activities.
-
Licensing Process
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.
-
Malta Real Estate Investment Trust (REIT)
As part of the 2019 budget, the government has pledged to introduce a Real Estate Investment Trust (REIT) framework in Malta.
-
The Markets in Financial Instruments Directive (MiFID) II
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.
-
Taxation of Malta Collective Investment Schemes
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?
Introduction
This privacy policy (the “Policy”) sets out information about how Grant Thornton (hereinafter referred to as the “Firm”, “We” or “Our”) processes and uses your Personal Information. We are firmly committed to respecting your privacy and the confidentiality of your Personal Information. All Personal Data will be processed in accordance with the Data Protection Act (Chapter 586 of the Laws of Malta) and subsidiary legislations thereunder (the “Act”) and the Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data (hereinafter referred to as the “General Data Protection Regulation” or “GDPR”).
Contact Us
This Policy outlines Our internal practices to ensure that Personal Data collected in relation to Data Subjects is protected. Furthermore, it also provides that Our operations are subject to continuous review to maintain alignment with GDPR. We must emphasize that We will only be using and/or disclosing any Personal Data collected from Data Subjects in accordance with the manner set out in this Policy.
Should you require further information regarding Our privacy practices, kindly contact us via e-mail at gdpr@mt.gt.com.
Key Definitions
“Controller” or “Data Controller” means any natural or legal person, public authority, agency or other body which, alone or jointly with others, determines the purposes and means of the processing of personal data.
“Data subject” refers to any living person (natural person) whose personal data is being collected, held or processed.
“Online Forum” refers to an online medium through which discussions will take place and be made available to the registered attendees.
“Personal Data” or “Personal Information” means any information relating to an identified or identifiable natural person (‘data subject’); an identifiable natural person is one who can be identified, directly or indirectly, in particular by reference to an identifier such as a name, an identification number, location data, an online identifier or to one or more factors specific to the physical, physiological, genetic, mental, economic, cultural or social identity of that natural person
“Processor” or “Data Processor” means a natural or legal person, public authority, agency or other body which processes personal data on behalf of the controller.
‘Processing’ means any operation/s which is/are performed on personal data or on sets of personal data, whether or not by automated means, such as collection, recording, organisation, structuring, storage, adaptation or alteration, retrieval, consultation, use, disclosure by transmission, dissemination or otherwise making available, alignment or combination, restriction, erasure or destruction.
NB: Information in relation to legal persons (e.g. company, other legal entities) does not constitute personal data in terms of both the Act and the GDPR. Nonetheless, the aforesaid information will still be handled in a confidential manner, in accordance with Our standard internal practices and professional secrecy obligations.
Data controller
When processing Personal Data of Data Subjects for the purposes indicated in this Policy, the Firm is generally qualified as a Data Controller.
Purposes for Processing Personal Data
The Firm requires the collection and use of certain Personal Data on Data Subjects primarily to facilitate the participation in the Online Forum, including communication in relation to the system access and the communication of any possible matters that were not addressed throughout the conference which will be sent after the conference. Furthermore, Personal Data shall be collected and used for the following purposes:
- to process actions to determine any troubleshoot problems that may arise;
- to subscribe to the Firm’s newsletter;
- to subscribe to the Firm’s marketing communications;
- to send out communication related to the Online Forum;
- for statistical use;
- as is required by law; and
- should the Firm determine to be necessary to ensure the safety of the users, clients, employees, third parties and the public.
The collected Personal Data shall only be processed for the purposes outlined to the Data Subject or any ancillary purposes.
We shall inform data subjects accordingly in cases where we are required to process Personal Data for any other purpose.
Collection of personal data
Specific data is collected directly from Data Subjects. This consists of the general data information provided directly by the Data Subject upon registration to the Online Forum. Personal Data will include:
- full name;
- year of birth; and
- email address.
However, upon registration, Data Subjects may opt to provide additional information which will not be required in order to access the Online Forum. Information which would be processed include:
- company name;
- LinkedIn profile;
- zip code;
- information as to how the Data Subject got to know about the event; and
- information about the conference theme that interests the Data Subject.
The above information, should it be provided, will be processed specifically for statistical purposes. Furthermore, the provision of the LinkedIn profile will be used solely for networking purposes by cross-linking the Data Subject’s profile.
Once the Data Subject creates a profile upon registration, the information in relation to the username will be retained for profile personalization. It is important to note that said information will be publicly available to other users. Additionally, the Online Forum registration allows you to participate and interact with other users as well as being able to share content and information through chat messaging which will be made available to all users.
Data Subjects may opt to receive the Firm’s monthly newsletter as well as other marketing material. In such instances, Personal Information provided by the Data Subject will be processed to send out same.
Collection of data of minors
We recognize the interest that may arise in relation to the topics and speakers that are presented throughout the Online Forum. Hence, as a means of providing the best possible experience to all those interested, including minors, participation may take place from 16 years of age or older.
Personal Data collected from minors (i.e. Data Subjects who are less than 18 years of age) requires further protection. As a result, the Firm will process such Personal Data as a result of their consent. Consequently, the Firm has the right to process the data for the purpose of the Online Forum and for marketing purposes should the minor provide consent.
In the event that We become aware of any Personal Data collected from a minor who is under 16 years of age, without parental consent, the necessary steps will be taken to ensure that the information is removed expeditiously and efficiently. Should the public be aware or believe that We may be holding any information collected with regards to a minor (a person who did not attain 16 years of age), kindly inform us as soon as possible on gdpr@mt.gt.com
Lawfulness of Processing
Personal Data will be processed on the basis of the following legal grounds:
- when the Data Subject has given consent to the processing of his/her personal data for one or more specific purposes;
- when We have a legitimate interest to process the data, except where such interests are overridden by the interests or fundamental rights and freedoms of the data subject which require protection of personal data.
Kindly note that special categories of data, which include information about the data subject’s racial or ethnic original, political views, religious or political beliefs, trade union membership, genetic, biometric or health data, sexual orientation and data related to the Data Subject’s conviction and offences will not be processed by the Firm.
Sharing Personal Data
In order to ensure that Data Subjects are provided with the best possible experience throughout the Online Forum, the collected Personal Data will be accessed by the organizing committee. Personal Data will also be shared with the Economic Research team as a survey(s) is (are) being prepared as a means to support the proposed discussions as well as by way of follow up to same. The members of the organizing committee as well as the Economic Research team are employees and personnel of the Firm.
It is important to note that due to the technological requirements of the Online Forum, Personal Data may be shared with the Firm’s IT team to help resolve any technical issues that may arise as a result of the Online Forum.
Moreover, should consent have been obtained in relation to marketing purposes, your data shall be utilised by the Firm’s marketing team in order to provide you with our monthly newsletter, industry news, services marketing and other information.
The Firm shall not transfer personal data to any third party without the prior consent of the Data Subject, except where We are required to do so by operation of law.
Personal data shall not be transferred to third parties located outside the EU or European Economic Area (EEA) unless specifically instructed to do so in writing by the Data Subject or mandated by provision of law or ordered by a duly empowered competent body.
Data Retention
Personal Information provided solely for the participation within the Online Forum without the provision of any other optional information or consent for marketing purposes provided upon registration will be retained for a period not exceeding one year from the participation in the Online Forum. Such Personal Information includes the full name, email address and year of birth.
Personal data collected and processed on the basis of the Data Subject’s consent shall be retained until the Data Subject withdraws his/her consent.
Moreover, the Data Subject’s LinkedIn profile shall be retained by the Firm for the purpose of networking until the Data Subject withdraws his/her consent.
The indicated time periods may be further extended when We have a legitimate interest related to exercising or defending legal claims or in case of inspections by relevant authorities or where empowered by law or regulation.
Data Subject’s legal rights
Data Subjects have various rights vis-à-vis their Personal Data:
- the right to be informed: the Data Subject has the right to be given clear information regarding how his/her Personal Data is processed. We do this by means of this Policy which will be duly revised from time to time and by means of and any future communications directly with the Data Subject on a case by case basis.
- the right to access Personal Data: the Data Subject may send Us a request to access all Personal Data that the Firm holds in his/her respect. To avail of this right, kindly send an email to gdpr@mt.gt.com. We will do Our best to attend to the Data Dubject’s request within one (1) month. In case of more complex requests, the timeframe will be extended by a further one (1) month. Should the Data Subject disagree with Our judgement, s/he can complain to the Information and Data Protection Commissioner (hereinafter referred to as the “IDPC”) on https://idpc.org.mt/en/Pages/contact/complaints.aspx
- the right to rectification: the Data Subject can also request that any inaccurate or incomplete Personal Data held by the Firm is corrected accordingly. In such instances, kindly send an email to gdpr@mt.gt.com.
- the right to erasure: there are certain instances where Data Subjects may also request the deletion of his/her Personal Data. On a general note, We will comply with the Data Subject’s request in this regard. However, We may have the necessity not to comply with the request if retention of the data is required for us to be compliant with a legal obligation and/or such data would be required by Us to exercise or defend any legal claims.
- the right to stop direct marketing messages.
- the right to object: the Data Subject may object regarding his/her Personal Data being processed including when such processing is based on legitimate interest.
- the right to data portability: the Data Subject has the right to put forward a request asking Us to provide him/her with certain personal data which s/he had provided the Firm in a structured, commonly used and machine-readable format. When technically feasible, the Data Subject may also request that his/her personal data be transferred to a third-party controller of his/her choice.
- the right to withdraw consent: the Data Subject can also withdraw any consent given at any time.
- the right to lodge a complaint: the Data Subject has the right to lodge a complaint against any Personal Data breach by communicating such breach to the IDPC. The IDPC may be notified by filling in the complaint form available at https://idpc.org.mt/en/Pages/contact/complaints.aspx
Security of Personal Data
Keeping the Data Subject’s Personal Data secure is of utmost importance to Us. We undertake to put in Our best efforts to keep any disclosed Personal Information secure by implementing the appropriate technical and organizational measures with the aim of protecting such Personal Data against unauthorized or unlawful processing, encompassing also accidental losses, destruction, storage or access.
Notwithstanding Our efforts to protect personal data, no system can guarantee that the aforementioned scenarios will not occur.
Accuracy of information
The Firm undertakes to hold accurate and where necessary up-to-date Personal Information. In view of this, Data Subjects are asked to keep Us informed of any changes that might occur to Personal Data throughout the previously stipulated data retention timeframes.