Malta: An Island of Stability & Prosperity
Intoduction
The Maltese archipelago is located right in the heart of the Mediterranean Sea, stretching to an area which is not greater than 316 square kilometres. The size of the Maltese islands are definitely not a reflection of the great historical and cultural treasures the country prides itself on.
The people are welcoming and English-speaking, helping anyone make the best out of their experiences around the country’s charming attractions. The country is safe and secure, administered through democratic institutions based on the principle of the rule of law.
The hot summers and the mild winters characterize Malta’s Mediterranean climate, certainly a pull-factor to all enthusiasts of outdoor activities taking place all the year round. It comes as no surprise that Malta has established itself as an ideal place for tourism and filmmaking.
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There is always something to engage in around Malta and its sister island of Gozo. Attractions range from Malta’s pristine beaches and countryside, appetizing restaurants, outstanding nightlife and indulging historical and cultural monuments which narrate the island’s 7,000 year-old history.
One of the major advantages for high net-worth individuals in Malta is the pro-business environment cherished in the country. The responsible government authorities adopt a pro-business approach, aiming hard to expand investment opportunities within the European market and beyond.
Since joining the EU in 2004, the Maltese economy has experienced a complete transformation. Presently, the main contributors to the island’s GDP are tourism, financial services, the aviation and maritime industry, film production, online gaming, aviation, high-end manufacturing including pharmaceuticals and education.
Some Facts & Figures
1. FITCH recently updated Malta’s credit rating to ‘A+’ with a stable outlook. FITCH said the Maltese economy was outperforming its eurozone peers;
2. Malta is also outperforming EU Member States in terms of GDP growth and employment - Gross Domestic Product (GDP) growth was at 7.7% for the third quarter of 2017 – the average growth across the EU stood at 2.6% for this same quarter according to Eurostat, the EU’s statistical agency;
3. Low unemployment, currently at around 4.1% – is one of the lowest rates within the E.U.;
4. Malta ranks as one of the best destination for many expats.
Investing or establishing a Business
- Very easy to set up a business;
- Island strategically located at the centre of the Mediterranean Sea;
- Pro-business Government with easy access to decision makers;
- Availability of International Finance Centres;
- Excellent ICT infrastructure;
- Advantageous corporate tax systems;
- Strong work ethics and high productivity levels;
- Easy access to and strong diplomatic and trade relations with North Africa and the Middle East;
- Great Filming Industry;
- More than 250 foreign companies have already invested in Malta and are operating in the country;
- There are 76 double taxation treaties between Malta and third countries;
- Malta has the largest ship register in the European Union;
- The Construction industry is booming – great return on investment;
- Malta is an i-Gaming Hub with very robust legislation;
- Malta is fast becoming a leading global financial services industry;
- The new aviation park will establish Malta as a leader in the aircraft maintenance industry;