CapServices, a company services provider (CSP) authorised by the Malta Financial Services Authority in 2019, is “committed to actively participating in positioning the island as a premier global business destination,” says Jurg Hirschi, the firm’s Managing Director, with 2024 being a year in which the business plans to expand, continuing to “build strategic partnerships with other stakeholders in the country and abroad.”

The CSP was founded a handful of years after he moved to Malta from South Africa. “I graduated from the University of Cape Town and thereafter registered as a Chartered Accountant with the South African Institute of Chartered Accountants (SAICA), one of the most prestigious bodies in the field. I then worked in audit and financial management for many years, before being offered the opportunity to join one of the big four audit firms in Malta,” he recalls. He soon shifted into the iGaming sector which, he adds, “was more exciting at the time,” after which he was headhunted to establish the corporate services firm.

As with similar firms, CapServices aids in the incorporation of businesses, provides support services for already-established outfits, and oversees detailed AML and KYC processes to ensure compliance. “We focus on company formation, secretarial services, corporate governance, bookkeeping and payroll, VAT handling, opening of bank accounts as well as general transaction support,” the Managing Director explains.

However, what distinguishes CapServices from its competitors, Mr Hirschi points out, is the boutique-like approach and the firm’s focus on building long-term relationships. “It’s about the quality of the service, ultimately, and we prioritise the provision of a higher-end offering, at a reasonable price. We also don’t just complete one-off services, but we are typically a partner, aiding in our client’s operations over time. We also know that growth comes with positive word of mouth, and we are committed to ensuring efficient communication and attention to detail. So, for instance, whenever we receive an enquiry, we are focused on responding as quickly as possible, with all the information the client may require.”

With this philosophy, the company has seen steady growth since its establishment. The firm’s client base is not specialised – for the time being – with Mr Hirschi describing the variety of enterprises CapServices has partnered with: “from iGaming, to the financial and film industry. We are generalists, and are involved across myriad sectors.”

In conjunction with these efforts, and over the past few years, Mr Hirschi has also launched a twin-firm, CapConnect, which is run by his wife, Carmen Hirschi, and focuses on recruitment, facilitating immigration paperwork, with a particular specialisation in the South African-to-Malta market. “Through CapConnect, we have a partnership with Sable International, a cross-border financial and immigration company, boasting offices in the UK, Portugal, South Africa itself, and Australia. CapConnect liaises with Sable to ease and accelerate recruitment of South Africans in Malta, including work permits, the application to residency programmes, as well as VISAs to the island,” Mr Hirschi explains. Their pool of local candidates has also grown significantly and they have successfully placed a large number of local candidates at various firms in Malta, with a particular focus on financial services, audit, management and compliance roles.

Looking ahead to the next 12 months, the Managing Director is driven to “push the growth of the businesses”, with CapServices poised to collaborate with various entities, such as law and audit firms, tax practitioners and estate agents. “CapServices is at the point where it’s a profitable enterprise. We’re in a comfortable position, so we’re looking at ways to expand our business at a steady rate, while retaining the stringent standards we adhere to in compliance and risk management.”

The firm is also making moves to “fill key and strategic team positions,” with an eye to expand its expertise in specialist industries, such as the financial services and iGaming sectors.”

To this end, the management team at CapServices have committed to investing in the firm’s IT systems. “We’re adopted a project management tool, to streamline our processes, as well as upgrading our accounting, anti-money laundering and secretarial systems, so we can be as efficient as possible. Like many small companies, in the past, we’ve done a lot of manual work, but the priority is to institute state-of-the-art technology, which will help position us towards further growth.”

Other than CapServices and CapConnect in Malta, the group also owns a company service provider in the United Kingdom (Capricorn Corporate Services UK Limited – or CapServices UK), as well as having owned and sold a Trustee/Company Service Provider in Hong Kong, to which there is still some affiliation. There may also be opportunities of expanding the group into other markets, as well as the possibility of bolt-on acquisitions in Malta. “We are hungry for growth and want to build a quality international business.”

However, the priority will always be the firm’s activities on the island. “When I first came to Malta, I didn’t really know what to expect but my wife and I have found a home here from day one. It’s a fantastic place to do business, a great place to live, with a healthy quality of life, and I have never once wanted to leave. I see there’s a significant skills shortage here – through CapConnect we’re well placed to assist with addressing the current skills shortages in Malta and we are able to assist companies who wish to set up offices, and settle on the island,” he asserts.

For more information and to enquire about CapServices suite of professional services, email Jurg Hirschi on [email protected]