Sovereign Trust (Malta) Limited
Valletta Buildings,
Flat No 20,
4th Floor,
South Street,
Valletta,
VLT 11
Malta
Telephone Number: +356 21 228 411
Fax Number: +356 21 228 412
E-mail: ml@SovereignGroup.com
Directors
Dr Mark A Miggiani, Harry Vassallo, Howard Bilton, Diane Dentith
Languages Spoken
English, Maltese
About Malta
Background: Great Britain formally acquired possession of Malta in 1814. The island staunchly supported the UK through both World Wars and remained in the Commonwealth when it became independent in 1964. A decade later Malta became a republic. Over the last 15 years, the island has become a major freight transshipment point, financial center, and tourist destination. It is an official candidate for EU membership.
Location: Southern Europe, islands in the Mediterranean Sea, south of Sicily (Italy).
Economy - overview: Major resources are limestone, a favorable geographic location, and a productive labour force. Malta produces only about 20% of its food needs, has limited freshwater supplies, and has no domestic energy sources. The economy is dependent on foreign trade, manufacturing (especially electronics and textiles), and tourism; the state-owned Malta drydocks employs about 3,800 people. In 1999, over 1 million tourists visited the island. Per capita GDP of $13,800 places Malta in the ranks of the less affluent EU countries. The island is divided politically over the question of joining the EU. The sizable budget deficit remains a key concern.
Time
Malta is one hour ahead of Greenwich Mean Time (GMT).