The Prime Minister of Malta, Robert Abela, together with the Finance Minister, Edward Scicluna, and the Economy Minister, Silvio Schembri, announced new economic measures. These measures were taken in order to address the impact COVID-19 pandemic might leave on the Maltese economy.
Malta is one of the most open EU countries when it comes to welcoming foreign investors and 2017 was a very good year for the local economy thanks to the influx of local and foreign companies, but also to businessmen who have injected approximately 55 million euros in new projects and expansions. Our lawyers in Malta can offer detailed information on the laws favoring foreign investments in this country.
Foreign investors who find Malta an attractive country from a technological point of view will be glad to know that Digital Innovation Authority was officially established in the first week of October. This means that those who want to open companies in the high-tech sectors in Malta will benefit from the support of the Digital Innovation Authority. Our lawyers in Malta can help foreign entrepreneurs who want to start their own businesses here.
The Maltese government has started assessing the possibility of reducing some charges on companies, based on a report issued by an important financial company and on the measures taken by other European countries. One of the measures which have already been implemented is the increase of the exemption threshold for VAT. Our lawyers in Malta can offer more information on the tax legislation applicable in this country.
After announcing three new laws aiming at regulating cryptocurrencies, Malta is about to become the first country in the world to host a virtual currency bank. One of the largest cryptocurrency exchanges in the world is planning to launch a bank targeting virtual money investors. If you want to start a cryptocurrency business, our lawyers in Malta can offer legal advice on the procedure.
The fact that the Maltese economy is performing well was recently confirmed by rating agency Standard and Poor’s which issued the last rating for the country in March. As a matter of fact, the agency reaffirmed the last rating from last year: A. Foreign entrepreneurs who want to explore the investments opportunities offered by this country can rely on the services provided by our law firm in Malta.
Despite its small size as a country, Malta is one of the most performant economies in the European Union, as its economy seems to be doing just fine considering the budgetary surplus without considering the Individual Investor Program. Foreign enterprisers interested in the Individual Investor Program can obtain more information about if from our Maltese lawyers.
Tourism remained one of the top industries in Malta in 2017, considering the large number of visitors entering the country, according to a survey released by the National Statistics Office. Last year, Gozo was one of the most visited cities in Malta, compared to the previous years when Valletta was the top touristic destination. Investors who want to set up businesses in tourism can be guided by our law firm in Malta.
As cryptocurrencies are winning over more and more investors, the number of governments seeking to offer them good conditions for transactions with digital tokens is also growing. It is also the case of Malta which is a renowned investment fund destination in the Europe and the European Union. At the end of January, the Financial Services Authority (MFSA) has released the first regulations on cryptocurrencies trading for professional investor funds (PIFs), now known as crypto funds. Our law firm in Malta can help foreign enterprisers who want to set up cryptocurrency businesses here.
Malta is one of one of the most appealing investment destinations in Europe and the European Union for foreigners, according to a recent survey. The Maltese Trade Register and the Financial Supervisory Authority (MFSA) have revealed the number of foreign shareholders in local companies, resulting that more than 31,000 companies have foreign stockholders. Our lawyers in Malta can offer more information on the legislation related to foreign investments.
At the end of 2017, the prestigious Forbes magazine issued the Best Countries for Business 2018 list in which Malta ranked 38th out of 153 in the overall business friendliness ranking. The survey takes into account independent indicators, but also other reports such as those of the World Bank’s Doing Business Report and the World Economic Forum’s Global Competitiveness report. Malta offers a very friendly legislation related to foreign investors which can be explained by our local lawyers.
Last year was a good year for Maltese companies offering online services, as according to the e-Government Benchmark Report 2017, the country ranked first among EU states to offer this type of services. Malta scored best in terms of technical availability and accessibility to online services. Foreign investors who want to start an online business in this country, can receive detailed information on the legislation from our Maltese lawyers.
Malta is known as an appealing jurisdiction for foreign investors who can relocate here through the several investor programs launched by the government over the years. Malta’s initiatives are so appreciated they have brought the country the first place in terms of Global Residency and Citizenship Programs at world level. This is one of the reasons for which the authorities have launched the Individual Investor Program which is now coming to an end. Our lawyers in Malta can explain the conditions of the Individual Investor Scheme.
During the last few years, the Maltese government has created a sustainable business environment which has led to the development of the private sector. Nowadays, private companies are the main engine of the economy and not only. According to the latest report issued by the Central Bank of Malta, private companies are also the most important pillar of the employment market in the country. If you want to open a company in this state and need assistance, our law firm in Malta can assist you.
Not long ago, Maltese companies were commended by Eurostat for being among the best performing companies in the EU. Now, another report announces Malta as one of the most appealing countries in the Union in terms of attractiveness for buying or renting a property. Our lawyers in Malta can assist foreign citizens who want to relocate to this country through one of the investment programs related to property purchases.
Malta is currently one of the best performing economies in the European Union. The second ones, if considering it registered the second-highest ratio among companies registering high economic growth. The new report issued by Eurostat also made the government consider entering the race for hosting the European Medicines Agency (EMA). Our lawyers in Malta can assist foreign investors who want to open companies here.
Malta keeps receiving good ratings from credit rating agencies thanks to the soundness of its fiscal policies and the good results registered by the economy in the past year. DBRS and Fitch are the last two agencies to rate Malta A, respectively A+. If you are interested in starting a business in this country, our lawyers in Malta can offer legal assistance throughout the company registration procedure.
The Maltese gaming industry is close to a very important change as the Malta Gaming Authority (MGA) announced it is currently working on allowing customers of casinos to pay with digital money. Also known as cryptocurrency, this type of money, is the latest trend in the fintech industry in Malta and it is slowly but surely finding its path in day-to-day activities. Our lawyers in Malta can offer more information on the legislation related to cryptocurrency and financial technology.
At the end of June, the Maltese National Bank released its first Investment Sentiment Index which is a report surveying the portfolios of local investors. The interesting fact about the report is that most Maltese investors prefer securing their money by making local investments. Our lawyers in Malta can offer information on the legislation related to foreign investments.
Malta’s taxation system is a beneficial one for both local and foreign investors. One of its most attractive features is that it is made of numerous tax exemptions and schemes under which certain taxes can be refunded. One of these schemes is the VAT refund scheme which is available for non-EU companies and citizens. At the beginning of year, the government signed an agreement with the private company in Malta which will administer the system used to refund the VAT to non-EU nationals and which provides for faster payment of the amounts. Our lawyers in Malta can offer more full information on the taxation system of the country.
The Minister of Economy announced new incentives for family business which represent a great number of the companies registered in Malta. The Family Business Survey which was recently launched showed how important businesses run by families in Malta are for the economy. If you want to open a company here, you can rely on the services offered by our law firm in Malta.
Malta relies on a strong retail industry which generates a significant portion of the country’s Gross Domestic Product. Considering these facts, the Government has recently proposed the development of several fiscal incentives for Maltese companies in the retail sector. If you want to set up a retail company in this country, our lawyers in Malta can offer information about the legislation related to the commercial and the retail regulations.
Malta is one of the most performant economies within the European Union, according to the latest competitiveness index. The European Commission recently announced that Malta ranks among the first five EU countries in the competitiveness scoreboard in four areas of interest. Our Maltese lawyers can assist foreign investors interested in opening companies in this country.
The Maltese Chamber of Commerce recently released a report on the innovation expenses Maltese companies have undertaken between 2012 and 2014. According to the survey prepared by the National Statistics Office (NSO), the number of companies engaged in the innovation industry has risen quite a lot during the last few years. Our Maltese lawyers can assist foreign enterprisers interested in opening companies in this country.
Economically, Malta is doing very good at the moment. This is reflected by a decreasing number of unemployed individuals in Malta. The latest report issued by the Statistic Institute shows that August brought an increase in Malta’s economy which has generated growth in the number of employees in Maltese companies. Our Maltese attorneys can assist foreign enterprisers who want to start companies here.