One of the top places in the EU that has gained popularity amongst entrepreneurs for setting up a business is Malta. As the world is becoming globalized, more and more people are opting for Malta to set up their business. But, why should you consider it when there are other options to explore? Listed below are some reasons to consider Malta companies registration:
- Tax system
First and foremost, the Maltese tax system is designed in such a way that it can work in favor of businesses that are set up in the country. A corporate tax rate of 35% is applicable, which appears high, but there is a refund system that allows companies to reduce their effective tax rate to as low as 5%. In addition, the income tax rate in the country is also very low, which makes it beneficial for entrepreneurs.
One of the top reasons why Malta has become a hotspot for businesses is due to its strategic location. Malta is positioned between Africa and Europe and it has an international airport that offers easy flights to the top countries in the world.
The minimum wage in the country is fairly low, which can reduce staffing expenses for businesses. The cost of living in Malta is quite low, which makes rent and salaries more economical. Moreover, businesses can get access to a more qualified workforce because the standard-education in the country is world-class.
An important thing to remember about Malta is that it is an English speaking country. This makes it easy for anyone to adapt in the country and do business with the rest of the world without any hassles. In addition, since it attracts a lot of EU citizens, you can easily find a multilingual workforce in the country without any issues.