The Advantages of Starting a Business in Malta

With a GDP growth rate of 4.6%, Malta is one of the few places in Europe managing to thrive in a cooling global economy. With a business-friendly environment, it has streamlined its processes so that setting up a business is quick and easy. Combining world-class facilities with the beauty of the Mediterranean, we discuss why you should consider opening a business in Malta. 

Malta’s Main Industries

Tourism is a given when it comes to Malta’s major industries. However, many people are surprised to find that behind this, it has a huge manufacturing industry. The country is a large exporter of semiconductors, making it vital for the construction of computer systems. Added to this is the financial services sector, which is growing exponentially. This is particularly true of offshore finance. 

Several industries have begun to form a thriving ecosystem in Malta as a result. One of the most prolific is the iGaming sector, which is focused on the provision of online sports wagering and casino games. The 10.38 billion online slots market has many operators and developers working in Malta. They provide games as wide-ranging as Fluffy Favourites to Mega Zeus, which allow people to win cash prizes with the convenience of playing from a device. The Malta Gaming Authority has been set up as a governing body and is now respected the world over.

Malta’s Strategic Location

As an island in the Mediterranean, it is strategically placed between Europe, Africa, and the Middle East. It is well serviced by its international airport, and you can be connected to several major hubs in just a short time. 

A highly skilled workforce is also available in Malta, with the added bonus that English is one of the most widely spoken languages. Thus, if you do want to bring in workers from abroad, they will have no problem integrating with local talent. This opens up the talent pool to a much wider scope of players. 

Attractive Taxation Policies

Malta’s corporate tax rate, on the surface, is quite standard at 35%. However, a series of incentives and refunds can bring this down drastically, with the actual rate standing at around 5%. This makes it one of the lowest in Europe. 

Regulations are in line with EU rules and directives. This makes it much easier to do business across the block. For personal taxation, it also has added benefits like no taxes on royalties and dividends, combined with taxation treaties in agreement with 70 different countries. 

Before you dive headfirst into the opening of a business, get some professional advice. There are experts who will know the many grants and funding programmes available to those starting a business in Malta. The Malta Enterprise is a government agency that focuses on funding to stimulate economic growth. They have a range of options for expansions, start-ups, and innovation, which you may be able to access.

Thus, Malta has several opportunities waiting for you. It may not be for every company, but for those diving into global tech and offshore finance, or hoping to have a manufacturing base in Europe, few places can rival Malta.