Malta is gearing up for a financial services sector boom, with aspirations of serving Europe as an international financial services centre, similar to those in Dublin and Luxembourg.

The recent Maltese general elections have led the way for the small island to become part of the European Union, with membership lined up for 2004. Max Ganado, a lawyer with JM Ganado & Associates in Valletta, the capital, says: "This is an exciting development. For the last five to six years, Malta's financial services laws have been aligned with EU laws, without the benefit of access to the market."