Why Set Up Your Business in Malta?
When it comes to choosing the country to set up your business, a number to things need to be considered. Right from comparing the political, cultural, economical and historic lookout of the country to a number of other things, there is plenty to consider. Setting up business in a foreign country is not an easy decision. Considering all these parameters a great option to set up your business is Malta. Apart from the rich cultural heritage and a strong economical background of the country, there are plenty of other advantages too. The country is home to hundreds of companies and businesses form all around the world.
Malta is a great place for investment and offers an immaculate business environment along with advance setups for communication. It is a great country to grow and innovate your business and compete with others in the international marketplace.
Malta has close ties with the Middle East, Africa and Europe and is located right in the middle of the Mediterranean. It is a logistic hub and has an excellent infrastructure with state of the art ports with frequent air connections with almost all major cities of the world.
Since its independence in 1964, there has been an incredible transformation in the country. The government of Malta favors businesses and offers an open market, attractive, flexible and progressive economy to businesses. The economy of the country is so strong that it has not faced any real financial crisis up till now and was also one of the first countries to recover from recession too. There are pro-business policies in the country and the industrial climate is also pretty favorable making it an ideal place to set up your business.
The taxing system in Malta has been in place since 1948. The corporate tax, which is the most important tax when it comes to investors and entrepreneurs, stands at 35% in Malta. While this percentage may seem to be big, shareholders are entitled to claim all of the tax or some part of it back paid by the Malta company. This is one of the many things that make the taxation system in Malta unique, ingenious and attractive. The picture gets even better when the working hours, productivity and the labor costs are factored together. Workforce in Malta is also very cheap as compared to the main economies in the EU.
It may be difficult for a new company and its employees to enter into an entirely new and pretty unknown culture. The people of Malta are, however, very warm, welcoming, kind and tolerant. More than 88% of the population of Malta speaks English which is also a great point when it comes to setting up your business in the country. Malta not only offers a great economical environment, but is also great on all precious commodities of life. There are great facilities for health, safety and recreation, making it one of the best places if you are planning to set up your business.