Are you thinking about setting up a business and considering the location? There are numerous places where you can set up your business, but Malta comes highly recommended. Why should you register a company in Malta? Some of the reasons that people are considering Malta are:
- The Maltese tax system is very impressive
The tax system in Malta has been designed to attract entrepreneurs and investors. While the corporate tax rate is 35%, they have a refund system that enables shareholders to get a 6/7th refund on any dividends paid. Thus, the tax rate is reduced to 5%.
- Malta has double taxation treaties
There are over 70 double taxation treaties that Malta has signed with other countries. With these treaties, entrepreneurs can stay safe from double taxation and they don’t have to pay excessive foreign tax either.
- Quality workforce
Lots of people decide to register a company in Malta because it has a highly qualified yet lower-cost workforce as opposed to the rest of Europe. As compared to its EU counterparts, the cost of living in the country is 18% cheaper. Since cost of living is low, the rent and salaries are more economical and the standard of education is also exceptional, which makes it easy for businesses to find good employees.
- Member of the European Union
There are some fantastic benefits for businesses registering in Malta due to its membership in the European Union. This includes free trade with other members, competition and currency laws and a huge potential market.
- Reliable banking system
The banking system in Malta comprises of national banks as well as international ones. Furthermore, the country’s banking system is also ranked 14th in the world and it is considered very reliable.
Due to these solid reasons, registering in Malta can turn out to be a solid idea.