The fact that Malta offers so many benefits and advantages to foreigners who decide to relocate their business to the islands, means that Malta is becoming ever popular in this regard.
Being an idyllic investment destination, Malta has increasingly attracted foreigners to consider these tiny Mediterranean islands for the purpose. Here is a breakdown of what benefits to look forward to, with a few well-intended eye-openers for newcomers to the islands.
- Consider that Malta is a member of the European Union and part of the Euro-zone, with the local economy being based on the Euro. This will definitely alleviate any foreign exchange issues for those companies which also operate within the European Union.
- Malta has flights departing and arriving at the Malta International Airport from key capital cities, ranging from Berlin to Milan to Algiers, Moscow or Dubai amongst others. Not only does Malta boast its own national airline, but its airport welcomes a host of major airlines including low-cost ones.
- Shipping machinery, equipment or furnishings from your country to Malta is possible and easily organised thanks to a number of efficient and experienced professional companies which operate locally purposely in this sector.
- If you decide to furnish your Maltese office with new fittings and equipment, you can rest assured that Malta can cater for all or most requirements since business is high on the local agenda.
- The Malta Enterprise is a purposely created institution which sustains and assists newly formed or established enterprises as well as aspiring businesses to start operating profitably from day one. A series of beneficial incentives exist for foreign investors, for small to medium sized enterprises and also for mega business set-ups. Some interesting support measures include Micro Invest, Business Advisory Services, Business Development Grant Schemes, Business START and more.
- The islands are small. This means there are short distances to travel. However the road network is very dense and short distances are deceptive since traffic can be heavy at times, causing delays. It would be wise to set up your office close to where your staff members will be allocated to save on commuting time and expenses. For those wishing to set up office in the smaller island of Gozo, the Malta Enterprise has also created a Gozo Transport Grant Scheme to reduce inter-island transport costs of manufacturing undertakings.
- Locally, the IT segment is very strong, therefore bringing a company which depends on IT to Malta is a win-win situation. Indeed many smaller companies which operate via the internet, do re-locate to Malta. A case in point is the number of foreign betting companies who set up a call centre locally.
- The Maltese are generally polyglots, speaking at least two languages. Everybody understands English, most speak it as fluently as a first language. Italian, French, German and Spanish follow.
- Finding the right premises for your offices can be easily tackled thanks to RE/MAX Commercial Malta experienced team of agents. Agents are specifically trained to deal with businessmen looking for such premises and assist in finding you the commercial property to rent or buy. It can also assist in picking out suitable lodging for your employees, rentable on the short or long-term basis.
- There are a number of leading law firms based in Malta that may advise on legal business start-up procedures for foreigners. The registration process is not long or complicated if you get the right guidance to lead you through the paperwork.
- Malta has some of the most known 5-star hotel brands thus when visitors come over on business or leisure you will be able to provide red carpet treatment. Of course 3 and 4 star hotels are also in abundance.
- Salaries are still relatively low compared to major cities whereas the skill set is at par or even higher. The Maltese Government together with the Department of Education has created new courses through institutions such as MCAST and University of Malta to accommodate for the skill gap so that the Maltese may excel in new roles within different Industries.
Malta has proved to be a major hub which offers the adequate infrastructure with the fiscal advantages to entice you to move to Malta not to mention the right mix of foreign and local human capital that will ensure that your business will kick off and flourish.
Several well-known businesses have taken the plunge and haven’t looked back, consistently growing their business whilst Malta has continued to accommodate their requirements of office space, employment and accommodation.