Experienced Financial Services Professionals Are In High Demand In Malta In 2019
Since joining the European Union, successive Maltese governments have written legislation that has gradually made Malta an international financial services and professional consulting hub. For example, Malta now has one of the world’s most successful shipping registries. It has a successful aircraft registration system, as well as rules for trusts, fund management and more.
The net result has been that many companies have some level of establishment in Malta. This has created an ever growing need for lawyers, CFOs, accountants, auditors and financial administrators. The reality is that there are simply nowhere near enough financial services professionals at all levels in Malta.
iGaming companies need financial services staff in Malta
There are now around 200 companies in Malta with some form of remote gaming license. Many of these companies either have their entire operation based in Malta (usually in St Julians, Sliema, Gzira or Msida) or an office with a sizable number of staff. The result is that most of these companies require several finance professionals to be based locally.
Blockchain companies also need financial services staff in Malta
If the situation is difficult to find qualified and experienced financial staff, it is about to become much worse. In mid 2018, the Maltese government passed laws that make Malta a much more desirable jurisdiction for blockchain companies. The laws were designed to make Malta appealing across the crypto sector, to exchanges, agencies and ICOs alike. The press have started to call Malta Blockchain Island. Needless to say, blockchain technology is primarily related to financial services and so there will be little choice for these firms but to recruit professionals. They may be able to locate the staff they need locally, but it is more likely that they will need to relocate people to Malta.
While many companies based in Malta prefer to have Maltese staff fill their financial and HR positions, the reality is that there are too few of these staff in Malta. If you have relevant qualifications and experience, speak English well enough to work in a multi-national company whose corporate language is English and have an EU passport, then there is likely to be a job for you in Malta! Send us your details and cv today to find out about the roles currently available.
Are you an accountant?
Here at MaltaStar.com we have partnered with one of the most trustworthy and successful recruitment companies in Malta and their words to us were, “there is a constant need for accountants in Malta”. It seems that the growth of financial services simply advanced at a much faster pace than accountants qualify. Over the last ten years there has been an almost constant need for more accountants in Malta. If you have relevant experience, qualifications and – speak and write – good English, there is a high chance that you could be placed in a new position quickly.
Are you an auditor?
There is also a near constant need for auditors in Malta. As the igaming sector has grown, so have the number of companies whose financials are complex enough to need proper auditing. Additionally, the igaming sector rules require companies to have very strict controls over their financials and other topics like anti-money laundering (AML) and know your client (KYC).
Are you an experienced CFO?
As you might imagine, there are less roles available for Chief Financial Officers (CFO) in Malta, but these positions come up regularly and are very difficult to recruit for. If your are currently a CFO that is looking for a change in direction, or think that the next logical step in your career is to become a CFO, please use the form below to contact us and we will begin the process of finding you a dream job.
Are you a financial services professional?
There is also a regular flow of positions for financial services professionals, such as administrators, in Malta. Experience and training in topics like AML, KYC, fund and trust administration, require a certain level of knowledge and professionalism. For several years, there have not been enough of these people in Malta to meet the demand of companies based locally. If you are the kind of person that these companies are looking for, please click on the link below and fill in the attached form for details of the positions currently available.
Why live and work in Malta?
It will come as no surprise that the salaries on offer to financial service professionals are lower than in London, Frankfurt and New York. However, there are many exceptional lifestyle benefits to living and working in Malta when compared to the big financial service hubs.
Malta obviously has great weather which makes evenings and weekends very different to big city life. Additionally, being such a small country, it is possible to live close to your office and so cut the commute from hours each day to minutes. We happen to be friends with a gentleman that moved from London to Malta and his daily commute was cut from one hour to three minutes each way. That has changed his life!
Will a new employer offer a relocation package?
A relocation package depends on the company and job in question, but many employers do provide some level of assistance to new staff that are moving to Malta. As is always the way in life, the more important the position is, the more likely a company will offer relocation assistance.
Do you need a visa to work in Malta?
Malta is a part of the European Union which means that citizens of EU member states – plus Iceland, Switzerland and Norway – can relocate and work without needing a visa.
Staff that come from outside the EU will need to go through some visa process. The process itself will depend on which nation you come from. For smaller firms, this will be a process that they will help with, but will not be easy for them. Larger firms will be able to help staff to obtain the required working visa more easily.
Find out more today
Yes. Here at MaltaStar.com we work with one of the leading recruitment agencies in Malta. They specialise in two sectors – financial services and online gaming. After years of living here and working locally we know who we trust and we will introduce you to the people we ask advice from. Just click on the link, fill in the form and we will have someone contact you to help you understand more about the roles currently available and what might be a good fit for you.