Throughout the years, the Maltese islands have become the ideal country to invest and set up a business in. The country’s laws do not impose any restrictions on the type and sectors of business activities that one decides to operate in. However, for gaming and financial sectors to start operating in Malta, they are required to apply for a license. In case of gaming operators, a license will be approved by the Malta Gaming Authority following a thorough application form and assessments that are conducted by the Authority.
When incorporating a company in Malta, one will be setting up a business in a country that offers a safe and regulated jurisdiction. In addition to this, Malta’s taxation system is also another favourable factor to consider as it encourages foreigners seeking to start up a business in an EU country to choose the Maltese islands to do so.
Why is tax considered as a favourable factor? Although tax is charged at 35%, it is important to note that the islands offer an advantageous tax refund system by eliminating the double taxation of company profits. This allows non-residents shareholder to apply for tax refunds on income allocated to the Maltese Taxed Account and Foreign Income Account. This highly advantageous tax system approved by the European Union offers companies to claim tax credits that can result in an effective rate of between 0 – 10%.
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