Set Up Business in Malta and Be Part Of The Nation’s Progressive Growth
Malta has flourished in the last few years economy-wise. The country has transitioned from an economy that once focused on agriculture to an economy that is more diversified. The country has invested a lot of money in expanding its industries, including pharmaceuticals, engineering, technology, tourism, IT&C, maritime, aviation and financial, opening the doors to several more investment opportunities in these domains for investors to leverage on. If you’re an investor that is considering to set up business in Malta, here are several reasons why the country has been attracting foreign investment to its shores for years:
The Legal and Taxation System
The island of Malta has managed to maintain its attractive tax system since joining the EU in 2004 and has ever since then introduced more incentives to attract a growing number of foreigners hoping to set up business in Malta.
One of the main attractions that Malta has to offer foreign investors lies within its legal and taxation system. The business legislation and taxation of companies in Malta is one of the most advantageous ones in Europe. Being able to maintain a stable credit rating since it entered the European Union provides investors with a high sense of security when it comes to opening companies.
One of the best tax benefits investors get to enjoy is being able to claim back most of the money paid out as a dividend from the corporate tax paid. This means they can recover nearly all the corporate tax they have paid.
Ease of Starting a Business
One attraction that enables business investors to set up business in Malta is there are no licenses requirements for most companies. This means there is less bureaucracy involved. The types of businesses in which special business licenses are required are business activities that are being regulated. Examples of which are financial services or medical services for example.
The quick and simple registration procedure is yet another allure as to why investors would like to set up business in Malta.
In Malta, investors will be able to find one of the best and the cheapest workforce available. Maltese people are still highly proficient to fill the necessary roles and positions within a company.
Availability of Investment Programs
The Government of Malta enabled several programs to promote the country as an attractive investment destination. It is part of the nation’s efforts to attract foreign investments further. Most of the programs are ideal for start-ups and have become popular across Europe in the past few years.
Among the programs offered include:
- Micro Investment Scheme
- Venture Capital Malta Program
- Strengthening Market Entry and Internationalization Scheme
- Business Development Scheme, and Business Advisory Program
The Citizenship by Investment Program is among the most successful programs developed by the government. It allows foreigners to apply for a Maltese citizenship after investing in or buying a property in the country if they desired.