Fiduciary and fund services specialists Abacus have been granted a full trust licence by the Malta Financial Services Authority, isleofman.com reported on Tuesday.

Abacus Corporate Services Limited, the group’s Maltese corporate arm, was granted the license by the MFSA, which authorises them to provide trustee and other fiduciary services under the Trusts and Trustees Act 2004.

“We are focused on providing the group with another platform to develop its business across global markets, so the Malta office is an integral part of the group’s growth strategy,” Abacus Malta chief executive officer Garry Crossan said. “Having received our trust license, we can now offer a full range of fiduciary services alongside our existing suite of corporate and fund administration services, complementing the service offering currently available from our head office in the Isle of Man.”

Mr Crossan was full of praise for the Malta offering. Ideally located as a European domicile, Malta, he said, had a low cost set-up for new company and fund vehicles, supported by a “proactive” regulator. He highlighted opportunities for shipping and aviation and Malta’s growing profile as an alternative international finance centre.

The Abacus group comprises fiduciary and fund services specialists embracing more than 30 years’ experience, offering a wide range of financial solutions and fiduciary services to a global client base.