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DeMontford Bell
DeMontford Bell, the UK-headquartered financial introducer, has announced that it is in talks to acquire a leading Edinburgh financial consultancy firm.
Demontford Bell specialises in compliant EU-focussed tax planning and has a presence in most onshore and offshore financial centres. Tom Jackson, European Business Development Director, said: “Our team sees Scotland as a growth area, and one which is currently under-exploited. This acquisition isn’t about helping people to avoid paying tax, it’s about strengthening business links between Caledonia and other parts of the EU and hopefully creating jobs and wealth in the process.”
Commenting on the reasons for the expansion Robert DiGiallonardo, COO, said: “DeMontford Bell remains very much an international general practice firm, but in recent years it has developed a distinctly modern flavour - we’ve seen a lot of e-commerce work, nominee services and some very interesting new ideas in the form of patents, inventions and software. We’ve also done some quite innovative work in the licensing arena - obtaining licenses for online gaming companies and collective investment schemes - including crypto-currencies like bitcoin.”
DeMontford Bell also recently announced that it is expanding its permanent operations in Malta following exceptional Q1 and Q2 growth. Commenting on this development Wendy Funes Betancourt, Head of Group Media, said: "We decided to step up our Malta operation because we have seen a huge amount of migration into Malta to take advantage of its attractive five percent tax rate, the lowest in the EU. Apart from the low tax rate the fact that Malta is English-speaking with a strong Anglo-Saxon work ethic also makes it popular on both sides of the Atlantic."
"Other areas where we have seen strong growth include Gibraltar and the Isle of Man, though Malta seems to be eclipsing the more traditional offshore territories, especially in light of the recent EU tax blacklist."