GANADO Advocates was instrumental to the introduction of modern structured finance techniques to Malta, with a hand in drafting both the Securitisation Act and a great deal of supporting legislation. Bringing a wealth of knowledge and experience from overseas, GANADO lawyers advised on the establishment of the first two Maltese securitisation vehicles established here under the Act, issuing legal opinions to rating agency / Rule 10b 5 standard.
The popularity of Maltese special purpose vehicles for structured finance transactions at home and more significantly abroad is growing dramatically. A regulatory safe harbour for non-public issues by securitisation vehicles, statutory bankruptcy remoteness, specifically tailored rules on income tax neutrality and Malta’s network of double tax agreements with over 65 jurisdictions has prompted international transactions involving financial, corporate, aviation and intellectual property assets. There has been similar interest in relation to raising funds for public projects in Malta.
Most work in this area is by its nature driven by tax planning. The team at GANADO Advocates recognises therefore the need to work closely and consistently with tax specialists within the firm as well as other professional advisers to the client. We have the capacity to deliver opinions on Maltese taxation in relation to international finance transactions where this complements more general advice on structuring or on tax compliance. The area is equally integrated with other related areas of the firm such as in debt capital markets and financial markets regulation.
Maltese legislation allows for a wide variety of legal entities to be used in structured finance transactions from public and private limited companies, limited partnerships, foundations to trusts. These forms can be combined to achieve ownership structures for the best prospect of bankruptcy remoteness. At each stage, the firm or its affiliates are able to assist in relation to corporate governance and good standing, including the provision of a registered office and company secretarial, administation, trustee and fiduciary services.