Why should you Pick Malta as the final Destination for Starting a Business?
The business environment in Malta has faced drastic changes due to which incredible flourishing in the business sector is now observed. The success was achieved as a result of a shift from agriculture-based policy to other spheres of the economy. The country has switched over to such domains as pharmaceuticals, IT&C, maritime and aviation technology, finance, engineering, and tourism.
The implementation of modern technologies and infrastructure adaptation cause an influx of foreign businessmen who are ready to invest in the provided conditions. Besides, the country acts like a supplier of the cheap workforce for European giants operating on the territory of Malta. Another important criterion for business attraction is a favorable tax policy towards foreign enterprises. To conduct business in Malta, companies must only register for the VAT.
What is Especially Attractive about Malta for Foreign Businesses?
When speaking about starting a business in the state, its taxation and legal systems are the main trumps that draw both foreign and local entities. The tax and legal policy provided by Malta is considered one of the most favorable in Europe.
The state is appealing to investors since its gambling and financial spheres are well-developed. Malta is one of the leading countries for gambling activity in Europe. Due to its membership in the European Union, Malta is distinguished by a stable credit rating, which stands as a guarantee of secure business development.
As for the taxation policy, the country is famous for its favorable and beneficial system throughout Europe. It is characterized by the lowest personal income taxes and corporate tax rates. These are what attract both foreign enterprisers and job-seekers to work and live in the state.
Benefits for start-ups in the country
Foreign businessmen will be glad to find out that no license is required for developing business in most activities, which means fewer nerves, fewer hustles, and less bureaucracy. There is a limited circle of domains, which requires issuing licenses. These include medical professions and financial services.
The country offers opportunities for opening businesses of many kinds. Investors will be pleased with the list of available types of business. Moreover, a registration procedure is simple and doesn’t take a lot of time. Businessmen can pick different kinds of business vehicles, with sole traders and limited liability companies being the most popular.
Investment programs in the country
To improve Malta’s reputation on the international business market and attract foreign investments to the country, the government has developed several programs that are aimed at making the state the desired destination for business development. Most of them are targeted at start-ups and have already gained popularity across European countries. Some of the programs include:
- the Business Advisory Program,
- the Micro Investment Scheme,
- the Venture Capital Malta Program,
- the Strengthening Market Entry and Internationalization Scheme,
- the Business Development Scheme.
The Citizenship by Investment Program is the leading program of the Maltese government. It implies providing foreigners with an opportunity to apply for Maltese citizenship if a person buys a property on the territory of the country or invests money. We are a law firm and consult our clients on all sorts of business services and affairs in Malta. If you’re interested in investing in the state, feel free to contact us to learn more information and get answers to all questions on company registration on the territory of Malta.