Trusts have over the past years been increasingly used by business organisitions in a wide range of commercial and financial transactions, according to Bank of Valletta’s Executive Head – Trustee Services Unit, Dr. Andrew Chetcuti Ganado – furthermore, Trusts are a living, breathing and developing area of law that are highly flexible, adaptable and versatile in nature.

“Trust legislation was introduced in Malta in 2004 providing alternative solutions which were previously not available under the present legislation. The law also proved to be a success thanks to the fact that the island is perceived as a stable and well-regulated jurisdiction. Over the years, we have attracted considerable international and local interest. Bank of Valletta has been active in this area from the outset and has been able to guide its customers into the myriad ways that the legislation can be used for their particular requirements,” Dr. Chetcuti Ganado said.

The Trusts and Trustees Act offers a number of advantages for businesses, ranging from securitisation of assets, as well as the use of trusts for corporate financing and syndicated loans. There are different types of trusts such as life insurance trusts, used to manage the proceeds of the insurance, as well as asset protection trusts, while real estate trusts have advantages to offer when it comes to dividing property between co-owners. Of particular interest in the local context is the use of trusts to help with the succession and continuity of family businesses.

A seminar on trusts is being organised for accountants by the BOV Research and Business Generation Unit at the BOV Centre at Sta Venera on the 4th December between 15.00 and 17.00 hrs

“The Bank is constantly innovating and coming up with products and services, some of which are quite technical and legal. This briefing session is one of a series the Unit is organising to enable us to pass information to expert gatekeepers – lawyers, accountants, tax consultants – who are then in the best position to advise their clients,” BOV Executive Head, Research and Business Generation Unit Noel Scerri said.

The seminar is being organised in collaboration with the Malta Institute of Accountants, which certified the course towards accountants’ lifelong learning accreditation requirements.

For further information and booking, kindly contact Sarah Sciberras on 22755909 or via email on [email protected] by Friday 30th November 2012.

This seminar is being offered free of charge for Certified Public Accountants and has been granted CPE Accreditation by the Malta Institute of Accountants.