|
|
More than four out of five (82 per cent) also believe the number of UK-based financial services firms generally seeking to establish subsidiaries in the European Union will increase over the next three years due to Brexit.
While 44 per cent believe that UK asset managers specifically will probably get to passport their funds into the EU after Brexit, around 30 per cent believe this will not happen.
The full findings of the research will be announced at the Finance Malta 10th Annual Conference due to be held in Malta on 17-18 May 2017. MPG believes that one of the biggest beneficiaries of Brexit will be Malta because of its EU membership, its efficient regulatory and legal environment and its highly educated, English-speaking workforce.
Jeremy Leach, chief executive officer at MPG, says: “Although a sizeable minority in our survey believe UK asset managers will be able to passport their funds in the EU after Brexit I think this will be unlikely – current members of the European Economic Area such as Switzerland, Liechtenstein and Norway do not have this privilege.
“As such, many asset managers and other UK financial services companies will look to establish a secondary entity somewhere in Europe post-Brexit and Malta should certainly be on the list of serious options. Our survey also showed that respondents believe the most important considerations for those UK companies looking to set up another operation elsewhere are a comprehensive legal and regulatory framework (78 per cent), followed by the tax regime (52 per cent) and economic stability (42 per cent). Malta is exemplary under all of these criteria.”