Joint stock exchange between Malta and Ireland recognised

Bernard Gauci  -  12/February/2013

During 2012, Ireland and Malta formed a new European Wholesale Securities Market (EWSM) involving a joint stock exchange held between the Irish Stock Exchange (holding 80%) and the Maltese Stock Exchange (holding the remaining 20%). The aim of this joint stock exchange is to deal with complex debt listings. It acts as a specialist new market which offers issuers of wholesale fixed-income debt securities (which are currently considered to be very attractive) an additional EU-regulated market choice.

On the 18th January 2013, the HMRC announced that this new EWSM meets its definition of “listed” and it will also be regarded as a recognised stock exchange for inheritance tax purposes. HMRC’s standpoint will bring further customers to invest in contemporary instruments that could be well established in of the two countries but not in the other.

This is expected to contribute to additional, better and positive developments in terms of bilateral economic relations between Malta and Ireland. In fact, the two countries already share various pro-business features and characteristics which could be exploited for corporate restructuring purposes with the aim to maintain business costs at a minimum.

For any queries about the aforementioned issue or other matters, kindly contact Mr Joe Gauci (Managing Partner) or Mr Benjamin Griscti (Senior Advisor)

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