The Ministry of Infrastructure, Transport and Communication, on the occasion of the presentation of an Air Operators’ Certificate to Comlux Aviation on the 3rd December 2008, has declared its intention to develop a new aircraft registry during 2009 and to extend dedicated fiscal benefits to air operators and related service providers.

This is a most welcome decision, particularly to small and medium size operators in the business aviation industry which. Depending on the fiscal benefits to be implemented, this revamp may rival the regime in place in other jurisdictions particularly the Isle of Man. As the situation currently stands, the local register is already attractive in comparison to other registers, including those of the Isle of Man, Bermuda and the Cayman Islands, whereas Malta’s status a fully fledged member of the European Union, subject to a harmonized regulatory regime being further developed by the European Aviation Safety Agency, constitutes a further benefit to those companies whose operations are principally based in Europe.

Malta’s has in recent years developed a reputable financial services industry, suitable to address the needs of many. General fiscal benefits, including the refund to shareholders of 6/7ths of the corporate tax paid by the company on foreign income has already proved popular and successfully utilized, amongst others, by companies licensed to conduct remote gaming in Malta. Other benefits available relate to back office providers and call centers.

The developments, which are to based on a system analogous to the acclaimed ship register, should make Malta an attractive base for air operators.

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4.12.2008