Malta hELD the Presidency of the Council of the EU IN THE FIRST HALF OF 2017
Although a small economy, fully exposed to the vagaries of the global economic context, Malta has managed to weather recent upheavals remarkably well. This can be ascribed to the fact that the economy is diversified, with the result that a downturn in any one sector is compensated for by continued strong performance in other areas. The country’s Gross Domestic Product stood at €8.8 billion in 2015 with high exports per capita of over €28,000 pointing to the essentially export-driven economy, both in physical goods as well as services.
It is also pertinent to point out that, although the country is well known as a tourist destination and, increasingly, as a financial services hub, the manufacturing industry still has a very important role to play with a contribution of over 13% to the country’s GDP as well as being the second largest employer on the island. All this points to a competitive edge, not only in newer sectors, which is to be expected, but also in well established areas such as industry.
Malta has been welcoming investors into the country for decades. This means that both private and public service providers are well aware of the requirements of an incoming operation. The process of setting up on the island is a straightforward and transparent one in which the investor is always kept updated as to what is required. Prospective investors often make use of a service provider from the private sector capable of seeing to all their legal and logistical requirements from company registration, access to banking facilities to recruitment of staff.
Malta's key location mid-way between Europe and North Africa gives the island added advantage as an investment location; with its Western European business environment, sophisticated infrastructure solutions and its highly skilled workforce, the island is targeting investment from high value-added industries and service providers — and it is succeeding well.
• Mostly English speaking Nation (many Maltese speak two - three languages, some several more)
• Highly educated, and skilled workforce – 60% of students continue to tertiary level
• Mainly British-based accountancy and legal principles
• Liberalised Taxation Laws and supportive Government FDI policies, especially in the areas of dual-taxation and Corporation Tax — Tax imputation system can result in 5% tax rate
• Strong Communications Infrastructure
• Low wage and accommodation costs of around 40% of the original 12 EU nations
• Politically stable, democratic Republic with 0.4 Million Inhabitants – very low security risks
• Eurozone, with significant additional trade (and language) links to MENA
• Strategic European location
• Open for Business with a secure, stable base offering easy business access and a high-quality lifestyle.
We have access to a large and extenstive network in Malta and would be happy to help you in all aspects.