Malta Legalises Divorce

Following a recent referendum Malta has now legalised divorce, meaning it is no longer the only EU country not to allow it.

London, UK (Pryce Warner International) June 9th, 2011 – Despite the watershed decision, the exact framework for settling financial issues following a divorce has yet to be agreed.

This may cause particular problems for the significant Expat population, as any such people looking to divorce may face a highly complex international financial tangle.

Due to Expats often residing in multiple countries, having children in others and properties in more than one country, divorce can often be a complex procedure. Though Expats in Malta will now technically be able to divorce in Malta, the lack of a clear framework means many may opt to initiate proceedings in another country.

Divorce laws in numerous countries across Europe often do not adequately reflect marriage as it exists in the modern world, as the divorce laws were laid down some time ago and only evolve on a case-by-case basis. There is an opportunity for Malta to set a precedent in divorce law that reflects contemporary marriages i.e. they often have dual incomes, independent wealth and wealth and residency in multiple locations.

One aspect of divorce for Expats that Malta may attempt to address is that often couples have a choice between which jurisdictions they want to divorce in. This can often lead to drawn out and acrimonious battles as one partner will inevitably prefer to initiate proceedings in whichever location gives them the most benefit.

British Expats in particular often face the issue that UK based settlements awarded to the wife tend to be more generous than in other European countries and therefore some individuals initiate proceedings in the UK so as to force the courts to settle the case in Britain as opposed to their present country of residence.

The issue of jurisdiction shopping is a complex one, and due to the as yet unclear nature of the financial settlements in Malta any Expats undergoing divorce there will need to carefully consider which jurisdiction offers them the most legal clarity and financial security.

David Harra, a Senior Market & Investment Analyst with Pryce Warner International Group, a Financial Services Provider for Expats worldwide commented: “It is good to see that Malta is now offering divorce, for too long it has been an absurd situation that a European country in this day and age did not allow couples to separate. Hopefully Malta will also adopt a more modern attitude towards settlements and recognise the numerous ways that modern marriage differs from its historical partner. Divorce is always a very traumatic and difficult time for all involved and it is vital that the Maltese government ensure that the process is as fair as possible. Lengthy custody and financial battles can often be unforeseen consequences of unclear laws, especially in cases where individuals can contest which jurisdiction the divorce takes place in."

Pryce Warner International Group provide International Asset & Investment Management, Independent Financial Advice & QROPS Overseas Pensions.

-------------------------------
By: Aneil Fatania
Financial Editor
Pryce Warner International Group
For any corrections of factual information contained within our news items please contact our editor.
Email: af@prycewarner.com
Skype: newsdesk-pwi
Telephone: U.K.- +44 20 3364 5016 or Monaco - +377 97 97 29 22