C A M I L L E R I P R E Z I O S I A D V O C AT E S
Cost savings appeal to emerging managers Interview with Andrew Caruana Scicluna
H
igh set up costs could stymie the fortunes of emerging and start up managers before they even make their first step. Malta offers such organisations the opportunity to set up their business in a low-cost jurisdiction while taking advantage of the high touch service they would benefit from due to the size of the industry. “Malta is well placed to attract small and medium sized business. The island is attractive to these funds where high cost would really impact their total expense ratios and make medium to long-term viability impossible. I don’t see any reasonable manager or fund with just a few million in assets setting up 10
in Ireland or Luxembourg. The costs in both countries are exponentially higher than Malta which would simply not make it possible,” remarks Andrew Caruana Scicluna, senior associate at Camilleri Preziosi Advocates. These are the niche clients Malta should be focusing on, with cost as one of the key selling points. Caruana Scicluna points out: “Cost can be a decisive factor. The cost of doing business with service providers is considerably lower here. From a structuring perspective we’re on par, in that anything that can be structured in Ireland, Luxembourg or London can also be done here, but with a lower cost base.” MALTA FUND SERVICES IN FOCUS | Nov 2020
