Malta is made up of a small group of islands in the centre of the Mediterranean Sea. The Maltese islands are located 93 kilometres south off the Southern coasts of Sicily and 290 kilometres away from the shores of North Africa. Its location makes it easily accessible from most European countries and those located on the North African coast. Malta has a good infrastructure. Telecommunications, postal services, banking, hospitals and health services are efficient and of a high standard. The national airline operates daily routes mostly within Europe and the Mediterranean region and most major European airlines operate flights to Malta. There is a regular sea link with Italy.
Malta became independent from Britain in 1964 after being a colony for more than 200 years. Malta is a nation with a rich cultural heritage and a history going back several thousands of years. The national language of Malta is the Maltese language. Besides Maltese, the official language of Malta is English which is spoken by the majority of the population. English is also the language which is used in business and commerce.
Malta has a diversified economy mainly based on tourism, manufacturing and financial services. Foreign investment is highly encouraged as is evidenced by the numerous financial incentives and a low tax regime intended to encourage economic growth.
The Maltese Financial Services:
- The financial services sector includes domestic banking, collective investment schemes, captive insurance, life insurance and unit trusts.
- Manufacturing is given a high prominence with particular emphasis on those industries producing high-technology and a number of other targeted industries producing for the export market. In this area, there is an attractive incentive package for those industries wishing to set up in Malta.
- Malta is an excellent jurisdiction to establish international trading companies and treaty-protected international holding companies.
- Malta also has an important shipping register and is one of the world’s preferred jurisdictions for tax-free yacht registrations.
- Malta is an attractive location for private residence. Non-Maltese persons acquiring permanent residence status benefit from an attractive and efficient tax regime.