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Family offices are companies that handle investment management and for wealthy families. Family offices in general are deemed as very important for such families as they provide services for the optimal management of their assets. They provide a range of services including financial planning, investment management, tax planning, estate planning and philanthropy.
Family Office Services in Malta
Family offices typically work closely with the family members so as to understand their financial goals and objectives and develop a customised investment strategy to meet those goals. They also assist with the management of the family’s business by offering guidance on good corporate governance and succession planning advice.
Additionally, some family offices also assist lifestyle services such as concierge services, travel arrangements, and education planning for the younger family members.
The importance of Family Offices for high-net-worth individuals
Family offices offer a wide range of services that are tailored to the special requirements of wealthy people and their families. Family offices play a crucial role in maximising the financial well-being and legacy of high-net-worth individuals by centralising financial administration, providing tailored solutions, protecting money over generations, guaranteeing privacy, and facilitating access to unique possibilities.
Malta's regulatory framework for Family Offices
There is no framework that is specific to family offices, however, Malta has a vast range of laws that tap into the various services that family offices offer. For example, the Company Services Providers Act in Malta makes provision with respect to company service providers and provides for matters ancillary or incidental thereto, hence any family office that will offer corporate services to its high-net-worth clients, needs a corporate services providers licence.
Services Offered by Family Offices in Malta
Some of the services offered in this respect include:
- Tax planning and compliance: We can provide tax planning and compliance services to help clients minimise their tax liabilities and comply with applicable tax laws.
- Estate planning: We can help clients with estate planning, including the creation of trusts, management of trusts, and other trustee services. We can also assist clients with the creation and management of limited liability companies and foundations.
- Legal services: Our legal arm can provide legal advice and assistance to clients on a wide range of issues, including estate planning, tax law, maritime law, and corporate law.
- Relocation – Assistance with various Citizenship and Residence by Investment Programmes available, such as Caribbean Citizenship by Investment and European Citizenship by Investment, including Malta Residency and Malta Citizenship by Investment.
- Real Estate – Rental & Sale, Investment & Management.
- Luxury Assets – Asset Management in Malta, Registration & Ongoing Management of Yachts and Aircrafts.
- Concierge Services – Assisting with Travel logistics, Schooling and Domestic Bill Paying
- Corporate Governance – Company Administration, Regulatory & Compliance.
- Fiscal Compliance – Payroll, VAT, Book-keeping, Financial Reporting & Internal Audit, acting as your Financial Advisor in Malta.
- E-commerce – iGaming, VFA/Fintech & Financial Licensing, and function Outsourcing.
The future of Family Offices in Malta
Through a focus on Family Offices, a solution used widely around the world, Malta has the chance to carve out a space for itself by promoting Malta as attractive for the formation of Family Offices. The goal is to draw qualified individuals to Malta to handle the primary duties traditionally assigned to family offices. Furthermore, Maltese enterprises, many of which are in their third generation and are just beginning to deal with strategic concerns like succession, asset preservation, and investments, would greatly benefit from a strong framework for family offices. With a focus on the families of High Net Worth and Ultra High Net Worth Individuals, the proposal is for Malta to present itself as a reliable European/Mediterranean domicile for the creation of Family Offices.
We offer the following related services.
'I want to applaud CSB Group, and specifically Malcolm Ferrante and Michela Pace for their endless patience, relentless dedication, speedy efficiency, and personal attention when it comes to establishing my Tax Residency in Malta in record time. The whole process was managed as promised, above and beyond my expectations. Undoubtedly highly recommended!'
Tax Residency Client
‘I approached CSB Group in late 2022 to open a discretionary family trust. CSB have the right set up and an experienced and friendly team who helped me act on the pressing investment decisions of the trust and with opening a bank account quite smoothly. While I took the decision to establish the trust with caution, now that it is up and running, I am pleased with the result.'
UK Expat Residing in Malta
"I really enjoyed working with Roger and his team. CSB Group has been very professional and a very efficient corporate services partner. I look forward to more business together and will not hesitate to recommend their top-notch services."
Relocating to another country is a challenging endeavor however, the support of the team at CSB Group, made a significant difference. Their guidance throughout the process instilled a sense of security and confidence, ensuring a successful outcome. Special thanks go to Michela, who displayed professionalism, and promptness, and who treated my case as if it were her own. I will always be grateful!
Family Reunification Client
We chose Malta as our new permanent home and CSB Group to help us through the residency process. They went way beyond our expectations treating our application as if it were their own. Their service was nothing short of stellar from understanding our needs preparation of the required documentation, and follow-up phase during a period with the sharpest movement restrictions. Malta deserves a place on every investor’s radar, mostly because of the surprising efficiency permeating the place, efficiency which starts with CSB.