Financial services have become a significant part of the Maltese economy over the past 15 years. Sectoral growth accelerated following Maltas accession to the EU in 2004. Because of Maltas membership of the European Union, financial products and services licensed by the MFSA can be “passported” into all of the other 26 EU countries. Passporting reduces cost and bureaucracy and opens up markets, while helping to maintain investor confidence in high regulatory standards.
