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Doing Business In Malta

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Malta’s geographical location has always been envied, from the time of the Phoenicians’ arrival in Malta in c.1000 BC, through to the Roman and Byzantine Empires, the Arabs and Spanish, the Knights of St. John, the French and the English, up to today. After being a British colony for 160 years and relying on the services offered to British armed and naval forces, in 1964, Malta gained its independence from the United Kingdom. Subsequently, Malta established itself as a low-cost manufacturing open economy. This, along with the privatization of Government-owned enterprises, has opened up a new era of business in Malta.

Since joining the European Union in 2004, Malta has quickly become a significantly important financial centre and has also been in a stronger position to facilitate links with other EU member states and North African Countries. Nowadays, Malta is seen as an established onshore financial centre in accordance with European Union Directives. Indeed, the Financial Services sector currently contributes to approximately 12% of Malta’s Gross Domestic Product and it is envisaged by the Government’s ‘Vision 2015’ that this figure will increase up to 25%. Furthermore, the World Economic Forum’s Global Competitiveness Index 2010-2011 has ranked Malta The World Economic Forum’s Global Competitiveness Index 2010 – 2011 has ranked Malta as the 10th soundest banking sector and 11th out of 139 countries for its financial market development.

Malta is not only about its financial services. The country’s economy is always becoming more sustainable and depends mainly on tourism and the service industry, including its ports. In effect, the island has become an attraction for high-value services, amongst others in maritime, aviation, and ICT.

Over the years, Malta has also gained international respect and provides an attractive business environment. It also boasts of a highly-qualified, multi-lingual workforce and an availability of specialised professionals at competitive rates. Furthermore, Malta has an internationally accepted advantageous tax regime and also an excellent IT and communication infrastructure.