Malta - where's that?

[partridge]

I always get nervous when I get told that tax efficiencies for investors and lower compliance costs are the main reasons for moving to a (so - called) offshore centre. But 7%#@ me, - Malta? That is not a serious place!! I think this is all avout the needs of the owner managers...how boring. (Well, let's just hope its boring) So if this is a roaring success will it come trundling all the way back to a proper jurisdiction with attendant costs?