You’ve probably already heard a little (or a lot) about this small island with a very big personality. If you haven’t, then even the quickest of Google searches will tell you exactly why it’s such an attractive place to be: three hundred or so days of golden sunshine, endless waves of blue sea, vivid cerulean skies and a quintessentially-mediterranean lifestyle that helps you get through the working week feeling laid-back and ready for an ice-cold cocktail.
All that sounds fabulous – but what exactly does Malta have to offer entrepreneurs? The EU country has undoubtedly become home to some of the brightest minds in business, gaming, hospitality, technology and beyond. While the island lifestyle is tempting in itself, it’s not the only reason why business-minded people from all over the world have made Malta their home. Thanks to the island’s top thriving industries like gaming, financial services and tourism, the economy is positively booming and the local market is rife with opportunity. With its flexible and comprehensive legislative and regulatory framework, Malta is indeed emerging as one of the fastest growing business and start-up hubs for financial and corporate services in Europe.
The question is this: what should you do if you’re an entrepreneur looking to bring your business to Malta?
Invest in Malta
Standing at the very forefront of European economy, Malta is a great place to set up your business, whether you’re already established or a start-up about to launch into success. Among its many positive qualities, Malta offers an advantageous tax system which makes setting up shop a lot more straightforward and cost-effective.
Oh, and let’s not forget the fact that Malta is quickly becoming a hub for cryptocurrency, with the expert team at NM Group ready to educate and guide you every step of the way. If investing in cryptocurrency is something you’re interested in, you can talk to one of our awesome advisors.
Make the big bucks
We’ve already touched on how the cost of setting up and running a company in Malta is quite low compared to other European jurisdictions. More specifically, the island operates on a system of tax refunds that lowers the effective tax rate to a fantastic 5% – currently the lowest in the EU!
Prominent companies from the tech, gaming and corporate sectors (to name just a few) have flocked to Malta to make the most of these financial benefits – and the sunshine, of course. Strategically located in the middle of the med, the country boast prime real estate and a well-connected airport, a highly-educated, English speaking workforce and an exceptional communications structure, making it the perfect place to run a successful business.
In short: Malta helps you get more bang for your buck.
Bring the family along
One of the biggest challenges of any entrepreneurial endeavour comes with a little thing called relocation. When it comes to moving your business (and your life) to this slice of the mediterranean, NM Group can help you with all things related to citizenship and residency. From visa applications and Maltese citizenship to company redomiciliation and residence and work permits, you can trust this expert team guide you through it all.
Malta’s Citizenship and Residency Programme has loads of benefits to offer, including:
- Schengen Residence status for 1 year prior to issue of passport
- Malta is a EU member state
- 160 visa-free destinations (including the US and UK)
- Maltese passport issued within 1 year
- Clear rules for eligibility
And if that isn’t enough to have you booking tickets already, there’s the fact that you can bring your family along too! The island is hailed as the perfect place for families, with low crime rates, good private and state schools, and a healthy mediterranean lifestyle to boot.
Save on tax
Malta’s unique tax refund system allows non-resident shareholders of companies registered in the country to benefit from an effective tax rate of 5%, or maybe even be tax exempt! Malta offers by far one of the lowest tax rates within the EU, legally and fully compliant with EU and international regulations.
Throughout the financial year, your Malta trading company will trade, issue invoices and generate a profit. Corporate tax has to be paid on that profit at 35% (Malta’s corporate tax rate).
Once the tax is paid, the non-resident shareholders will receive a dividend from the trading company and can claim back a refund equal to 6/7ths of the tax paid by the company. The end result is an effective tax rate of 5%.
Incorporate your company
Any entrepreneur worth their salt will tell you that company incorporation can be a bit of a headache. That’s precisely where an expert service like NM Corporate comes in – our team is your go-to for advice on anything from which bank to open accounts with and processing annual returns right up to helping you register under the Malta Tax Refund System.
NM Group offers the perfect mix of services to help you start running your business from Malta – get in touch today to learn more.