The island of Malta has a strategic location in the Mediterranean. It lies between Africa and Europe and benefits from being one-hour ahead of UTC. Malta provides international travelers and entrepreneurs easy access through its international airport.
Setting a company in Malta can be a simple task if done with the best legal support. But you might wonder why you consider a Malta company set up with the world being so globalized. If you have the same question in mind, here are the top four reasons you should be forming a company in Malta.
- Tax System
Malta has an attractive taxation system to attract entrepreneurs and investors from across the world. The Maltese tax system requires corporations to pay 35% of corporate tax, though a refund system allows shareholders to get a 6/7 refund on dividends. As a result, it makes the corporate tax rate effective at 5 percent.
- Double Taxation Treaties
Malta enjoys double taxation treaties with over 70 countries across the globe. These treaties protect from double taxation on similar earning from two states and save against unnecessary foreign tax.
Malta possesses a lower-cost and highly-qualified workforce than other European countries.
The living cost on the island is almost 18 percent cheaper than its counterparts. It means the lower living costs, rent, and salaries on the island are more economical than EU countries that scored higher. Above all, Malta has a world-class education standard that makes the country an excellent spot to find your perfect team of professionals.
- EU Membership
Malta is a member of the EU, which grants the country several fantastic benefits. These advantages include free between members, the currency and competition laws, and a vast potential market.
- No Language Barriers
Malta has no language barriers since it uses English as one of its two official languages. It makes your running an international business a much easier job. Since Malta is more likely to attract several EU citizens, it is not uncommon to find a multilingual workforce on the island than anywhere else in European Union counterparts.