30,696 companies with foreign shareholding are registered in Malta, with shareholders coming from 165 different nations (out of a total of 195), according to a response to a Parliamentary Question by Prime Minister Joseph Muscat.

Dr Muscat was replying to a Parliamentary Question by shadow speaker for the economy Claudio Grech.

The way in which the information was provided shows the number of companies registered locally divided up by the nationality of shareholders, so it’s possible that some companies could be listed twice if they have shareholders coming from different countries.

There could also be a substantial number of holding companies listed in the information provided, masking the nationalities of their ultimate beneficiary owners.

Out of all the EU member states, Italy, the UK and Germany registered the highest number of shareholders with companies in Malta. Italian shareholders are involved with 3,500 companies, UK shareholders make up 2,760 companies while German shareholders make up 1,854 companies. Germany is one of the most prominent critics of Malta’s business-friendly tax regimes, among other EU states, arguing that multinational companies should be paying their taxes in the areas where they are carrying out most of their operations, and therefore earning most profits.

The data also showed that 1,382 companies registered in Malta have foreign shareholding coming from the British Virgin Islands, a notorious tax-haven.  There are also 1,312 companies registered locally who have Libyan shareholding. The country has been experiencing massive trauma since the collapse of the Gaddafi regime in 2011.

Other nationalities with major shareholding stakes included Switzerland, Turkey and the USA and Minor Islands.