Opening a business in Malta has several advantages. Expat.com is providing you with an overview of these benefits if you are planning to invest in the country.
If you've been searching for the ideal place to start a business, it's more than likely Malta has appeared on your radar. The government of this Mediterranean gem has been actively involved in providing the best options to entrepreneurs looking for a European base for their business. By offering tax incentives and creating pro-business policies, Malta has attracted many new businesses from across the globe. Beyond that, its remarkable financial flexibility during the global financial crisis contributed to its reputation for strength and solidity.
What are some of the specific ways in which opening a business in Malta will help your company thrive?
It's Simple. You won't need to invest as many resources into the legality and so-called red tape of opening a business when you do it in Malta. Rather than employing a team of lawyers to sift through obtuse legal legislation, the entire process can be easily managed by a Maltese corporate services company.
It's Secure. According to EurWORK, during the 2008 global financial crisis, Malta's economy was not severely affected and recovered with comparative speed. This was due in large part to a swift and decisive response from the government, as well as the long-established culture of resilience within the country. The banking system in Malta is also quite conservative by nature.
It's Strategic. Malta is a member of the EU and uses the Euro to ensure that it stays competitive in a global market. It's location in the Mediterranean is also strategically important for transportation of goods from different continents. It also has a thriving tourism industry.
It's Cost-Effective. Though up front taxes for businesses may seem high initially, its unique tax system offers tax refunds, which lower that rate significantly, making it highly appealing to entrepreneurs and investors. Competitive labor costs also contribute to the overall cost-effectiveness of opening a business in Malta.
It's becoming a hot spot for start-ups. Malta has recently evolved into a jurisdiction for many young business-minded people to initiate their ideas and launch their businesses. It has a thriving financial services industry which has grown significantly over the last ten years to compete with a number of offshore jurisdictions, but with the significant benefit of being in the European Union.
Other benefits
These may be some of the most appealing reasons business owners and investors choose to set their sights on Malta, but they aren't the only ones. Malta boasts a long history of pro-business legislation designed to keep the country in the center of the global economy. Much of Malta's infrastructure has been built with businesses in mind. Legislation is written in Maltese and English, which is an official language of Malta.
The best businesses to open in Malta
At this point, you may be wondering if there are some types of businesses that Malta caters to particularly. The financial sector in Malta is world renowned, but more recently it's made several bold moves to secure its reputation as a capital for online gaming and ecommerce activity. By passing legislation that deals explicitly (and thoroughly) with online gaming regulations, Malta has become one of the easiest places in the world to run a gaming company.
In summary
Malta has worked tirelessly for decades to create a culture that supports both local and especially international businesses. From diligently crafted legislation to a society that actively promotes and encourages new businesses and expansive growth, Malta has earned its reputation as a key player in the global market. Are you ready to be a part of it?
