Doing Business in Malta
Malta attracts a significant number of international investors, entrepreneurs and private corporations, mainly due to Malta’s attractive tax system. As a result of this, the financial services industry has seen rapid growth in the last ten years. Since then, Malta has become one of the leading financial services centres in the world and has become a significant contributor to Malta’s GDP.
Malta’s is tied for the14th safest banking system in the world judged by the World Economic Forum in 2018. By comparison, the US is ranked T22nd, Germany is ranked T50th, the UK is ranked T57th, Cyprus is ranked 127th, and Portugal is ranked at 129th.
Malta has a skilled and well-educated workforce, but as the industry is still growing, it offers people looking to move to Malta many employment possibilities.
Recently Malta has seen significant growth in e-commerce activities, entrepreneurs and corporations are relocating their business affairs to Malta. Setting up an online business is a relatively straight forward process and offers many favourable tax advantages by basing the company in Malta. Malta is becoming not only a hotspot but a mecca for the IT and financial services sector.
All language for legislation in Malta is in Maltese and English. All companies in Malta generally conduct their business in English, making doing business in Malta a relatively easy task.
If you’re considering doing business in Malta, contact us today for a discussion on how Papilio Services can help you get set up.