Doing Business & Investing In...
Bernard Mallia Equinox Advisory Ltd.
19/14, Vincenti Buildings, Strait Street, Valletta VLT1432, Malta
Tel: (+356) 21376242 I Mob: (+356) 99800001 Email:
info@equinoxadvisory.com I Web:
www.equinoxadvisory.com
With such a scant resource base and such positive results, it is amply clear that Malta’s success cannot be ascribed to luck.
Q
What policies currently exist in Malta that benefit business and investment?
One of Malta’s key ingredients in being able to achieve the successes delineated above is undoubtedly, the business-friendliness of its macroeconomic policy framework.
Payroll costs (including both salaries and taxes) remain very competitive relative to the rest of the EU and other competing destinations. But unlike in other relatively low-cost jurisdictions, this does not come at the cost of HR quality. Macroeconomic policies to keep inflation in check are in place and the Government invests heavily in achieving and maintaining a highly-educated workforce.
Regulatory policies to make it easier to get things going when starting up a business are also in place. A limited liability company can be setup in a few days if all documentation is in order. In other jurisdictions, it is not uncommon to hear of waiting times of over a year. This is complemented by easy access to regulators and Government officials and full compliance with the EU’s Service Directive, which is intended to facilitate life for businesses and increase transparency for firms when they want to provide or use services in the single market, as well as to unfetter the growth potential of services markets in Europe by curbing legal and administrative barriers to trade in the services sector. Moreover, Maltese regulators are not inimical to businesses but act as facilitators while retaining rigorous regulatory standards, especially the case in those areas of business which require particular attention to customer care (such as financial services or gaming).
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Malta’s stable Government also means that the instances of stop-go policies are minimised and are conducive to stability and resilience in the macroeconomic environment.
Malta is well connected by sea and air to
all business destinations that matter
Furthermore, Malta is well connected by sea and air to all business destinations that matter, it has an industrial policy geared to undertake infrastructural investment to support the business community, especially in high-value added areas, and has a low corporate tax rate and VAT rate which in 2008 were ranked by Forbes Magazine as the fifth most tax-friendly country in the world, and the single most attractive country in the European Union.
What are the main potential liabilities that arise when investing in Malta
and how can these be mitigated or avoided entirely?
The two main potential liabilities when investing in Malta may be said to be:
1. The learning curve that doing business in a foreign jurisdiction gives rise to, as doing business in Malta requires some degree of adaptation to ad hoc circumstances and regulations, and this is where the services of corporate and legal service firms become important; and
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2. The complexity of taxation issues brought about by company re-domiciliation, which are mitigated by continuation of companies regulations and clear regulatory guidelines.
Equinox Advisory
Equinox Advisory provides integrated legal, economics, corporate and technology services to a worldwide clientele. The preponderance of its clients have one thing in common: they want to partake in the numerous benefits that Malta has to offer as a business destination. Whether it is in the area of patenting, ship registration, aviation registration, tax planning, online business, remote gaming, banking and finance, tourism, the media industry or software development, Malta has a lot to offer. Equinox Advisory is there to guide and advise clients in making the best out of the opportunities that arise when considering relocation of corporate entities or individuals to Malta.
Equinox Advisory’s core business concept in providing services to the private sector is that of providing all the services that a company commencing or relocating part or all of its operations in/to Malta could require under the convenience of one roof, at a high quality standard and at competitive prices.
For more information on how we can be of assistance, please visit
www.EquinoxAdvisory.com Equinox – Perfectly aligned with your needs
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