Why Malta is so popular for Businesses
Many businesses choose to base themselves in Malta, even if the founders and investors are from other areas of the world. So what is it that’s so attractive about this island republic, and why does it continue to gain attention from entrepreneurs?
Competitive Tax Rules
Taxation in Malta is fairly liberal compared to other parts of the continent, in spite of its membership of the EU and the fact that the Euro has been its official currency for a decade.
People who move there from other countries can enjoy a 15 per cent flat rate of income tax while working in Malta, as well as being able to avoid any tax on income from overseas work, capital gains and other key sources.
This makes it attractive for businesses as well as their employees, as transplanting a workforce from elsewhere in Europe is inexpensive and has plenty of tax-related perks. There is also no inheritance tax, which has long-term relevance for anyone who is thinking of sticking around and starting a family there.
Although it is not home to the fastest average connection speeds around, Malta remains well connected when it comes to internet access and all-purpose telecoms solutions.
The government is working to further improve connectivity on the island, but there are already business-quality services offering speeds of 1Gbps or more on offer for those organisations that need unfettered access.
This is important for businesses in the world of finance, as well as to emerging online gaming providers like Casumo. Since the Casumo careers website regularly advertises positions at its Malta offices, it is clearly finding the island’s existing network infrastructure more than adequate to fuel its expansion.
Geographic Location & Transport Links
Although Malta looks a little like it has been cast adrift at sea, its power as a hub for business and tourism means that getting to the island is easy, with flights heading in from hundreds of major destinations worldwide.
It also has the benefit of being located in the southern reaches of European territory, bordering Africa and the Middle East. This means that it effectively has straightforward access to a trio of continents, rather than being entirely beholden to a single geographic region.
Sitting in the Mediterranean sea to the south of Sicily and the east of Tunisia, Malta is surrounded by rich, blue waters and is bathed in warm sunshine throughout much of the year. It has been a hotspot for tourists for decades, but offers even more for those who are willing to up sticks and settle down there to work.
In the summer, things can get a little hot, with average temperatures in July and August sitting at around 30 degrees. But in the autumn and winter, when the weather in northern Europe takes a turn for the worse, Malta will be entirely pleasant, hovering around 20 degrees even in November and December.
The Lifestyle & the Language
Aside from the fine climate, Malta also benefits from good living standards, covering everything from housing and utilities to general amenities and leisure. Its burgeoning business clout and its strong tourist trade help to keep money flowing into the country, which in turn means that public services and general infrastructure are of a high quality.
Another major perk for businesses that want to open a location in Malta is that English is an official language, going hand in hand with the native Maltese tongue and effectively taking equal billing. This means that there is not a huge cultural shift for people to make when they move to Malta.
On almost every level, Malta has a lot to offer businesses, which is why its rise in popularity looks set to continue.