A fund, corporate and fiduciary services provider, JTC has been granted a licence by the Malta Financial Services Authority (MFSA) to operate as a retirement scheme administrator (RSA).
The company’s first pension scheme, Gemstone, has met HM Revenue & Customs’ (HMRC) requirements to operate as a Rops.
Through Gemstone, expatriates will be able to benefit from more flexibility in their pension planning and greater freedom to access global investment and growth opportunities, the company said.
Nadine Cachia, managing director of JTC Malta, said: “In the modern working environment, more and more UK residents are starting new lives overseas and they will understandably want to ensure they can keep a sensible pension plan in place. We are delighted that the MFSA has granted us this licence to enable us to offer this fully-fledged Rops facility.
“Malta is a natural fit for the Gemstone product, given its robust, stable and secure regulatory and legislative framework and broad financial services expertise all within an EU environment, and this should give investors, and their advisers, real comfort.”
JTC established a presence in Malta in 2014 to widen its geographical reach and strengthen its presence within Europe.
Stuart Pinnington, group head of institutional services, said: “The launch of Gemstone through our Malta operation reinforces our commitment to providing our global client base with a truly holistic offering spanning the private client and institutional arenas.
“It also underlines our commitment to Malta as a financial hub, following our being approved to provide a range of fiduciary services from the jurisdiction last year and being registered as a company service provider by the MSFA in 2014.”
