Financial services have become a significant
part of the Maltese economy over the past 15 years. Sectoral
growth accelerated following Malta’s accession to the EU in
2004. Because of Malta’s membership of the European Union,
financial products and services licensed by the MFSA can be "passported"
into all of the other 26 EU countries. Passporting reduces cost
and bureaucracy and opens up markets, while helping to maintain
investor confidence in high regulatory standards.