Economic Overview & Business Opportunities
Malta is a highly industrialised, service based economy. It is classified as an advanced economy by the International Monetary Fund and is considered a high income country by the World Bank and an innovation-driven economy by the World Economic Forum. It is a member of the European Union and of the eurozone, having formally adopted the euro on 1 January 2008.
The strengths of the economy of Malta are its strategic location, being situated in the middle of the Mediterranean Sea at a crossroads between Europe, North Africa and the Middle East, its fully developed open market economy, multilingual population (88% of Maltese people speak English), productive labour force, low corporate tax and well developed finance and ICT clusters. The economy is dependent on foreign trade, manufacturing (especially electronics), tourism and financial services. In 2014, over 1.7 million tourists visited the island. Besides, Malta is fast becoming a sought-after Digital Gaming hub, attracting companies seeking to relocate their business or set up their operations in Malta. Malta offers attractive corporate and personal tax incentives and a good ICT infrastructure. Malta also offers the lowest effective tax rate in the EU through the operation of its general tax system which is applicable to any company operating in Malta, including Digital Gaming companies. Malta operates a full imputation tax system which completely eliminates the economic double taxation of company profits. While the corporate tax rate stands at 35%, upon a distribution of dividends, the shareholders are entitled to a refund of the Malta tax charged (generally 6/7ths), which reduces the effective tax to as low as 5%.
Malta’s GDP per capita, adjusted by purchasing power parity, stands at $29,200 and ranks in 15th place in the list of EU countries in terms of purchasing power standard. In the 2013 calendar year, Malta recorded a budget deficit of 2.7%, which is within the limits for eurozone countries imposed by the Maastricht criteria, and Government gross debt of 69.8%. At 5.9%, Malta has the sixth lowest unemployment rate in the EU.
- Audit and Assurance
- Business Advisory
- Corporate Services
- Incorporation of companies
- Relocation & redomiciliation
- Malta registered office
- Malta bank account
- Due diligence
- Fiduciary services
- Directorship and company secretarial
Robert Ebejer is a Certified Public Accountant and a Practicing Auditor with vast experience in the field. He graduated in 1997 with a B.A. (Hos.) Accountancy degree from the University of Malta. In 2005, Robert obtained the University of Malta M.B.A. He has been working as an accountant and auditor in various sectors, including telecommunications, insurance and the National Audit Office (NAO).
Robert brings over 15 years of experience in accounting, auditing, and tax planning and corporate work. He was responsible for the setting up of various entity’s accounting and control systems and setting up internal auditing functions. Robert has also spent a number of years in Internal Auditing. During the last 5 years, Robert was responsible in setting up companies in Malta and corporate tax planning.
Robert is a fellow member of the Malta Institute of Accountants (MIA), and a listed auditor at the Malta Accountancy Board.
Keith is a Certified Public Accountant, a member of both the Association of Chartered Ceritfied Accountants (ACCA) and the Malta Institute of Accountants (MIA). He also holds a degree in Business Management from the University of Malta.
He has worked in the financial services industry by occupying posts with a local Maltese bank and also with the regulator, being, the Malta Financial Services Authority (MFSA). During this time, Keith worked within the International Taxation Unit. Keith has also worked at the National Statistics Office, specifically at the Business Statistics Department where among the various assignments entrusted to him, he was in charge of the ‘Access To Finance’ survey.