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    Audit and assurance
    Audit and assurance
    • Financial statements audits
      Financial statements audits
    • Financial statement reviews
      Financial statement reviews
    • Financial statements compilations
      Financial statements compilations
    • IFRS
      IFRS
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      Audit quality monitoring
    • Global audit technology
      Global audit technology
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      Systems and risk assurance
    Residence
    Malta Residence Programme
    • 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.
    Related insights:
    RESIDENCY Applying for residence in Malta
    01 Oct 2019
    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
    Citizenship
    With its balmy Mediterranean climate and favourable business environment, Malta is the ideal place to relocate your family and/or your business.
    • 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.
    Business risk services
    Business risk services
    • 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.
    Business consulting services
    Business consulting services
    • General business consulting
      General business consulting
    • 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
      Quantitative small caps
    • 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.
    Family businesses
    Our business solutions for family businesses center on alignment of all aspects of the family and business, including culture, vision, mission, values,...
    • 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.
    Technology
    IT and technology
    • GDPR consultancy
      The General Data Protection Regulation (GDPR) is the EU's data protection law which brings a lot of changes for your business to prepare. Grant Thornton can help your business make sure it complies to the new regulation.
    • Cyber security consultancy
      Cyber security consultancy
    • IT business consultancy
      IT business consultancy
    • Technology implementation
      Technology implementation
    • ESEF Reporting
      We are providing a service for listed companies that fall in scope to report in xHTML. Our service includes the mapping of the taxonomy, as well as the output of the audit/regulator ready xHTML report
    • 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.
    Other services
    Other services
    • Human resource consultancy
      Human resource consultancy
    • Brand development
      Brand development
    • Marketing and communications consultancy
      Marketing and communications consultancy
    • Market research
      Market research
    • EU funding
      EU funding
    Business Process Solutions
    Business Process Solutions
    • 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.
    Recovery and reorganisation
    Recovery and reorganisation
    • Operational and financial restructuring and reorganisation
      Operational and financial restructuring and reorganisation
    • Recovery
      Recovery
    Tax services
    Tax and regulatory
    • 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
    Transaction services
    Transaction services
    • Mergers and acquisitions
      Mergers and acquisitions
    • 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.
    Regulatory Services
    Regulatory Services
    • Financial regulatory services
      Financial regulatory services
    • 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.
    Industries
    • Transport
    • Consumer goods
    • EU funding
    • Fintech and Innovation
    • Public sector
    • iGaming
    • Startups
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    • Financial services
    • Collective Investment Schemes
    Transport
    Due to the breadth of expertise available, Grant Thornton can provide players in three main sectors of the transport industry; these being Maritime, Aviation,...
    • 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.
    EU funding
    EU funding
    • SME Growth
      SME Growth
    • Startup investment
      Start-up investment
    • SME Diversification and Innovation
      SME Diversification and Innovation
    • SME Internationalisation
      SME Internationalisation
    • SME Consultancy services
      SME Consultancy services
    • SME eCommerce
      SME eCommerce
    Fintech and Innovation
    At Grant Thornton we help innovative firms and entities operating in the fintech space launch new propositions and grow their business. We also help...
    • 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).
    iGaming
    With a sound jurisdiction that steers clear of bureaucracy and that has a proven track record, the iGaming industry in Malta is continuing to build on its...
    • 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.
    Real estate
    Real estate
    • 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.
    Financial services
    Financial services businesses engage in an increasingly complex and heavily regulated environment. Grant Thornton's multi-disciplinary Financial Services Group...
    • 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.
    Collective Investment Schemes
    At Grant Thornton we help innovative firms and entities operating in the fintech space launch new propositions and grow their business. We also help...
    • 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?
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    ADVANCE TRAINING Upcoming training – The Duties and Responsibilities of Directors
    Grant Thornton is organising a webinar called ‘The Duties and Responsibilities of Directors’. Directors are the backbone behind the good corporate governance of a company. While upon the inception of their role they were vested with generous manoeuvrability and freedom of control, the development of the Companies Act has presupposed more defined powers and responsibilities to ensure practices of good faith and diligence in the corporate sector.
    12 Jul 2021
    TAXATION Reporting obligations in cross-border arrangements under the DAC6 Directive
    Over the past few years, automatic exchange of information has been viewed as the ultimate tool to combat tax fraud and tax evasion and following various amendments to the first Directive issued during 2011, the EU Directive 2018/822 (DAC6) was implemented to ensure mandatory automatic exchange of information in the field of taxation in relation to reportable cross-border arrangements.
    11 Mar 2021
    Accounting GAPSME: general accounting principles for individual and group companies
    The EU Single Accounting Directive 2013/34/EU which substituted the Fourth and Seventh Directives on both individual and consolidated financial statements, introduced a new set of financial reporting requirements.
    15 May 2020
    DIGITAL TAXATION Double digital taxation: what it is and how to avoid it
    Governments and tax authorities are scrambling to keep pace with the increasing digitisation of the global economy and public outcry over the levels of corporate tax being paid by large multinational enterprises.
    01 Apr 2020
    Fintech Exploring the funds travel rule in terms of virtual assets issued by the FATF
    In June 2019, the Financial Action Task Force (FATF) established various rules to combat the misuse of virtual assets for the purpose of money laundering and financing of terrorism. The funds travel rule featured in the FATF’s recommendations as well as it requires Virtual Asset Service Providers (‘VASPs’) to collate and share information about the sender (originator) and receiver (beneficiary) whilst undertaking a transaction.
    07 Jan 2020
    Fintech Preventing and detecting the misuse of virtual financial assets: introducing the tools
    Technology is rapidly evolving, and this is proven with the development of blockchain technology, cryptocurrencies and other virtual assets. Concurrently, criminals are also advancing in terms of technology use since traditional crimes such as money laundering, theft, drug trafficking and financing of terrorism are being shifted to the cyber world.
    27 Aug 2019
    TAX Say goodbye to the arm's length principle
    The G20 has endorsed the The Organisation for Economic Co-operation and Development’s (OECD’S) roadmap for resolving the ‘tax challenges arising from the digitalisation of the economy’. The reallocation of profits and minimum tax proposals that have emerged following a recent round of consultations could put an end to the arm’s length principle that has governed transfer pricing for decades.
    05 Aug 2019
    Business risk consultancy The code of ethics – why is it important for organisations and professions?
    The code of ethics is an important tool which can enhance the reputation and the perception of the public of a profession and an organisation. In fact, local professionals such as lawyers, accountants, auditors and teachers must abide by a code of ethics which is issued by a recognised organisation. Moreover, businesses tend to establish their own code of ethics when they do not have an official code.
    05 Jul 2019
    Tax Direct to indirect taxation
    How manage the hidden complexities of indirect taxation? It’s not just the immediate demands of VAT/GST that are complex and challenging, but the extent to which it forms part of wider shifts in how businesses are taxed.
    20 Dec 2018
    Finance The evolutionary progress of money
    Progress in finance has facilitated the exchange of value to an automated process, but behind the scenes it has been a centuries’ long process to get where we are today.
    10 Dec 2018
    TAX Taxing the digital economy
    Commerce is increasingly digital. Yet, the global tax system is still geared to the needs of a traditional ‘bricks and mortar’ economy. The OECD’s Base Erosion and Profit Sharing (BEPS) Action Plan recognises the need for modernisation and has achieved quite a lot since the issue of its reports in October 2015. However, specific recommendations on digital taxation have been limited and the OECD’s calls for an international consensus on the way forward have so far been unheeded.
    10 Sep 2018
    Family Businesses 1.5% reduced duty on intra-family donations. Don't miss out.
    The introduced Family Business Act in 2017 saw the introduction of an incentive scheme for family businesses, whereby donations of marketable securities and business property used in a family business would be subject to a reduced duty rate of 1.5%, from the standard 2% or 5%.
    22 Feb 2018
    Tax Taxation in real-time: Gearing up for blockchain
    The question is no longer whether blockchain will disrupt the tax system, but how far, how fast and how to ensure your business is up to speed. Putting the hype aside, what does blockchain really mean for tax compliance and management within your business? What are the main risks and opportunities? How can you begin preparing for the shake-up ahead?
    11 Jan 2018
    GDPR Taking stock of GDPR – 10 key changes it will bring about
    When it comes to the way companies handle and protect data, things are soon going to change thanks to a new set of rules that are stepping into force as of May 2018. Better known as the General Data Protection Regulation (GDPR) –the new legal framework is meant to harmonise data protection standards across the 28 EU member states and is expected to ultimately reduce compliance costs, complexity, risks and uncertainty and ensure that people’s data is adequately protected.
    22 Nov 2017
    Intelligent Business Preparing your business for the GDPR
    On 25 may 2018 the European Union's new data protection law comes into effect, it will govern all businesses operating within the union and embed a more consistent approach to data protection.
    20 Sep 2017
    Family Business Reduction on tax on business inheritance comes into force
    The Family Business Act came in to force in January 2017 with the aim of facilitating the transfer of family businesses from one generation to the next with the hope of addressing significant succession planning issues.
    26 Apr 2017
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