Salt Partners officially announce Malta operations

Salt Partners, a foreign company based in Malta since January 2007, this morning officially announced their presence on the island.

Managing director Tracy Lange said the company offered back office facilities to several local and foreign companies working in the financial sector.

Its first clients were from Bermuda and the Caribbean islands. The business idea was to use Maltese people and Malta’s sophisticated financial services sector to assist professionals overseas, Ms Lange said.

The company employed 11 people and offered a 14-hour working day due to time-zones.

It strove to develop partnership with its clients and other companies offering similar services in Malta.

Its primary objective was to bring business to Malta and support Malta’s financial services sector

Finance Minister Tonio Fenech said the financial services sector was an important one for Malta. It was part of the country’s 2015 vision and one of the main pillars of the local economy.

It was a sector that was still posed to grow because Malta had built its framework on the right fundamentals.

The style and structure of the regulations, along with other aspects such as bilateral double taxation agreements which Malta signed with a number a countries, created the necessary environment to attract financial services to Malta, he said.