Attracting almost 2 million tourists every year, Malta is a truly remarkable place to live and work. In addition to the Mediterranean climate and clear sea, the country is also a full member of the EU. This, of course, means that the citizens enjoy the complete freedom of movement and employment within the Union. The 15th most democratic country in the world, according to Economic Intelligence Unit, Malta is an internationally-minded nation that has welcomed an expansive expat community over the years.

The corporate tax rate of 35% may at first may act as a deterrent for many businesses and entrepreneurs. After accounting for numerous incentives and tax credits, however, the effective rate of taxation ends up being between only 0% and 10%. As if this is not enough, international businesses are given further tax incentives, which makes these Mediterranean islands a promising jurisdiction to set up a company. Maltese firms, naturally, also get access to the wider European market with all its economic might and potential.

Thanks to the Suez canal with its busy trading routes, Malta’s large port is never idle, attracting millions in foreign investment every year. Strong export-oriented manufacturing sector also brings in plenty of capital to the islands. With Euro being the main currency and the full access to EU’s financial and regulatory instruments, Malta has become an attractive investment destination in recent decades.

Key Facts

Location

Central Mediterranean

Population

0.44 million

Neighboring countries

Italy (maritime border)

Average temperature (summer)

81°F(27°C)

Average temperature (winter)

55°F(13°C)

Languages

Maltese, English

Form of government

Parliamentary Republic

Corporate tax rate

0%-35%

Currency

Euro

GDP

$10.9 billion

GDP growth

5%

Inflation

1.30%

Unemployment rate

4.20%

Average salary

$22,300

Key industries

Manufacturing, Tourism, Financial services

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