History alone does not draw the annual summer influx of tourists. The warmth of the sun, the clarity of the sea and the welcoming attitude of the Maltese people have likewise won the hearts of visitors for many years. Whilst Malta is still a very popular tourist destination and Tourism is a key pillar of the Maltese Economy Financial Services has in recent years developed to the extent that it is a main contributor to the economy and key part of the success that the island has had in recent turbulent times in maintaining stronger than average economic growth.
Tourists visit Malta for various reasons with the Island offering numerous attractions that will surely spark the interest of most travellers. But Malta is not only a holiday destination – with competitive operating costs, easy access to the European and North African market and availability of highly educated and qualified personnel, amongst others, it is also the ideal jurisdiction in which to set up your business. The following list provides a quick and comprehensive overview of Malta’s advantages:
- European Union member state since 2004;
- The Euro is the official currency since 2008;
- A highly developed financial services centre;
- A strong legal system;
- A very competitive tax regime;
- The Island’s strategic location at the crossroads of three continents, serving as Europe’s Middle Eastern outpost;
- A liberal foreign direct investment regime;
- Simplified administrative procedures for acquiring necessary permits;
- Bilateral investment agreements with over 15 countries;
- Double tax treaties are signed with over 50 countries;
- Low set up and operating costs;
- English is an official language;
- A highly qualified, well-educated and multilingual labour force;
- Efficient legal, accounting and banking services;
- High standard of living;
- Excellent flight connections;
- A very pleasant climate and agreeable topography;
- One of the lowest crime rates in Europe;
- A sound ICT infrastructure;
- A solid international reputation.