Warwick firm adopts Maltese registration to improve EU trading

A WARWICKSHIRE medical consultancy has taken the decision to register its business in Malta to improve its chances of winning new orders from within the EU.

Advena, which is based in Warwick, will retain all of its operations in the UK but has set-up an office on the island where the business is now registered as a subsidiary.

Advena consults with around 180 global manufacturers of medical devices ranging from pregnancy test kits to x-ray machines to prepare product dossiers, quality systems and registrations so they are ready to sell within the EU.  

The move to Malta – set up by Leamington accountants Harrison Beale & Owen (HB&O) – means the firm will continue to trade as an EU business for an indefinite period, retaining its relationships with existing clients.

John Adcock, managing director at Advena, said: “We are a key gateway for global manufacturers looking to sell their medical devices inside the EU, because we ensure millions of medical products a year made outside the EU arrive inside the EU carrying the CE mark of conformity.

“Leaving the EU was a concern to us, as there is now going to be at least a two-year period of uncertainty about whether or not we will be able to proceed with our EU Authorised Representative service which provides help, advice and a legal trading footing to our global clients.

“Thankfully we had anticipated Brexit, and after three months of planning we have registered a subsidiary of the business in Malta that will enable us to trade as an EU company for as long as we wish.”

He said everything would stay the same, except the firm would have a virtual office in Malta which would enable it to expand its client portfolio and operate as usual while eliminating any uncertainty for clients.

“We haven’t lost any clients as a result of Brexit thanks to our planning, and we are currently adding around two companies a month to our client base,” he added.

HB&O used its membership of DFK – a global network of accountancy firms – to find the business a suitable location to trade from.

Mark Ashfield, director at HB&O, said: “John has adopted a sensible approach to Brexit that gives his business stability during a time in which a lot of other firms and their customers are in limbo about what the future holds for them.

“Once John decided on his preferred destination, through our DFK membership we were able to reach out to other accountancy firms in Malta who were able to recommend suitable contacts that could help a variety of things, from finding a suitable registered premises to setting up bank accounts.”