A member of the European Union, Malta is a small island in the Mediterranean Sea. As it doesn’t have a lot of landmass, it isn’t considered in the same league as some of the larger countries in Europe. However, nowadays people are taking an interest because of some of the perks they can enjoy when they decide to open a business in Malta. What are these perks? Let’s check some of them out here:
- Setting up is simple
When you are setting up a business, the last thing you want to encounter is a bureaucratic registration process that can take a long time. In Malta, you only need a minimum share capital of €1,165 and only 20% of this amount is required upfront. If you have any knowledge of business, you can deal with the paperwork of setting up yourself. Otherwise, there are some good corporate service providers, such as https://papilioservices.com/, who are more than willing to help you throughout the process.
- Support measures for all kinds of businesses
Regardless of the industry your business may be in, there is a good chance that Malta has a tax or grant scheme you can apply for. There are also public entities that offer various support measures and your business may be eligible for. You can find the right scheme for your business to get the funding necessary for developing a plan, researching a product and showcasing your operations internationally.
- Tax benefits
The cherry on the top that you will find in Malta are the tax benefits that businesses can enjoy. The country has signed numerous double taxation treaties and foreign investors can also benefit from special rates and exemptions. The effective corporate tax rate in the country is considered one of the lowest all across the European Union.