Legal, Tax, Accounting & Fiduciary

 

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We worked on a 6000-words English to Simplified Chinese business brochure translation for a Malta-based set of boutique legal, tax, accounting & fiduciary firms, with associated barristers chambers in March 2017.

The business brochure was comprehensive, spanning from an overview of Malta, its strategic location, EU membership, to setting up a trust and applying for its citizenship and residency programs.

The Republic of Malta a full EU member since 2004 is strategically located to provide services to the international community. Malta an English speaking country, has built upon the commercial laws of England and now the EU, to position itself as a premier family wealth, corporate and financial services jurisdiction.

马耳他共和国自2004年起便成为正式欧盟成员国,具备策略位置,为国际社会提供服务。 马耳他是英语国家,建基于英国,现今的欧盟商业法律,并本身定位成为首要的家庭财富,企业和金融服务管辖权。

With robust, competitive taxation rules, Malta has achieved sustained economic growth. Such growth is not solely the result of Malta’s tax and fiscal policies – there are other important factors such as multilingual workforce, lower labour costs, a strategic location and a sound telecommunications infrastructure.

马耳他拥有健全,具竞争性的税务规条,实现了持续的经济增长。 这增长不仅仅是马耳他税务和财政政策的果效 – 还有其他重要因素,如多语言的劳动人口,低劳动成本,策略位置和良好的电信基础设施等。

  • Credit Ratings – Moody A3, Fitch A, Standard and Poor BBB
  • 信用评级 – 穆迪A3,惠誉A,标准普尔BBB
  • Mixed common and civil law system – corporate, commercial and trusts laws based upon English statutes and EU
  • 混合普通法和大陆法系统 – 公司法,商业法及信托法,建基于英国和欧盟法规

Trusts, Confidentiality, and Tax Treatment.

Uniquely for an essentially civil law jurisdiction, Malta has succeeded, by virtue of the Trusts and Trustees Act 2004, in implementing the common law concept of trusts into its judicial and legislative systems.

根据2004年“信托和受托人法”,马耳他成功地在一个基本上属于大陆法管辖区的国家,在其司法和立法制度中实施普通法信托概念。

Trusts may be established for either private or charitable purposes. Private trusts may exist for a period of 25 years.

信托可以因私人或慈善目的而设立。 私人信托可以存在25年。

In terms of the Trusts and Trustees Act, a trust may be established in a number of ways, although usually by an instrument in writing i.e. deed, or will. A trust may also come into existence by oral declaration, by operation of law, or judicial decision.

根据“信托和受托人法”,可以通过多种方式建立信托,尽管通常采用书面形式的文书,即契约或遗嘱。 信托也可以通过口头申报,通过法律操作或司法决定而成立。

Although trust property is settled on trust with the trustee, the trust is not a legal entity and does not have a legal personality separate from that of the trustee; compare with the distinct legal personality of a company, foundation, or family trust company.

虽然信托财产是根据与受托人的信托结算,但该信托并非法律实体,并且不具有与受托人分开的法人资格; 与公司,基金或家族信托公司的独特法人资格有分别。

As a highly regulated jurisdiction, Malta has a number of laws such as Professional Secrecy Act, the Trusts and Trustees Act and the Code of Ethics (Trustees) aimed at protecting the confidentiality of trusts and foundations.

作为高度管制的管辖区,马耳他有一些法律,如“专业保密法”,“信托和受托人法”和“道德守则”(受托人),旨在保护信托和基金的保密性。

Any necessary disclosure as to the terms of a foundation or trust instrument – for instance so as to satisfy a court judgment, or in respect of the trustee’s/ administrator’s duties towards the settlor or beneficiaries of a trust – is carefully crafted so, if necessary, only the minimum disclosure occurs in order to satisfy any such legitimate interest or order.

对基金或信托文书的任何必要披露 – 如为满足法院的判决,或就受托人/管理人对信托的委托人或受益人的职责,须作出必要的披露, 将谨慎谋划只作出最低限度的披露,以满足任何此类合法利益或命令。

Trusts & foundations may opt for either:

信托和基金两者可以选择其一:

  1. Tax Transparent & Exempt – both trusts and foundations may be tax transparent – income is ‘looked through’ – and is exempt from tax in the hands of non-resident beneficiaries and resident trustees; subject to all of their income arising outside of Malta and all beneficiaries being either not ordinarily resident in and/or not domiciled in Malta; or

1.税务透明及豁免 – 信托及基金均享有透明税务 – 收入会被“看略” – 即在非居民受益人及居留受托人手中是免税的; 凡所有收入来自马耳他境外,而受益人通常不居留在马耳他和/或不居住在马耳他; 或

  1. Treated as a Company & Tax Refunds – for tax purposes both foundations and trusts may opt to be treated like a Maltese company, thereby enjoying the tax refund scheme (i.e. 5% effective corporate tax rate). Additional benefits will apply: access to Malta’s 70+ tax treaty network. Malta’s participation exemption – ensuring tax efficient extraction of subsidiary income from other jurisdictions.

2.作为公司处理退税 – 出于税收目的,基金及信托可选择像马耳他公司的相同对待,从而享受退税计划(即5%的有效公司税率)。 其他优惠将适用:享有马耳他70多项税务条约网络。 马耳他的参与豁免 – 确保有效的税务,收入提取自其他司法管辖区的子公司。

The brochure was exhaustive with information. We further worked on topics such as the benefits of setting up a Maltese company, double taxations, full imputation system, aviation, funds, financial services, EU passports, and Brexit.

The opportunity was a precious learning experience as we have to do extensive research on the different types of trusts, foundations and their workings to ensure the translation was accurate. We were thrilled that our client was happy with our work.

Excellent work, will use again! – Geraldine, Malta

 

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