Malta lies in the middle of the Mediterranean Sea, between mainland Europe and North Africa. Tourism and Financial Services are the main pillars on which Malta’s economy is built. Much of Malta’s economic growth can be attributed to the excellent regulation of banks and the financial services sector.
Some general fact finding about Malta:
♦ Great weather all year round;
♦ Strategic geographical location and transhipment hub;
♦ Travel times – Short travel times for connections to the main European hubs and North Africa;
♦ Political and economic stability resilient to financial turmoil and economic recession;
♦ Language – English and Maltese are the main spoken languages. Although many Maltese are fluent in Italian, and there is an increase in French, German and Scandinavian languages heard due to the influx of foreign workers;
♦ ICT – High speed internet available as well as fibre optic connections; and
♦ Unemployment rate amongst the lowest in the EU.
Malta offers a number of advantages when doing business:
♦ EU Member State – Passporting rights for services and companies;
♦ Schengen and Commonwealth member;
♦ A flexible, competitive tax regime with effectively very low tax rates;
♦ No witholding tax on distribution of dividends, interest and royalties;
♦ A large network of Double Tax Treaties (DTAs);
♦ Highly skilled labour force and qualified professionals;
♦ Low operating costs; and
♦ Incentives for investment.