10 reasons to do business in Malta
A cosmopolitan country
Malta, the EU's smallest member state, lies in the middle of the Mediterranean. Its history and culture have been uniquely enriched by successive foreign occupiers. The official languages in Malta are English and Maltese. The island's thriving expatriate scene is the result of attractive career prospects and an inimitable lifestyle. Malta's storied past testifies to its enduring position as a multicultural bastion. In essence, Malta is the ideal cosmopolitan village.
History
The history of Malta, an island rich in vestiges, reflects its strategic position at the crossroads of Mediterranean civilizations. It is marked by remarkable prehistoric sites, such as the Megalithic Temples, among the oldest free-standing structures in the world, the medieval city of Mdina, and Valletta, its captivating capital. These places, emblematic of Malta's heritage, are UNESCO World Heritage Sites, testifying to the island's extraordinary historical and cultural wealth, woven over millennia.
A diversified economy
The Maltese economy, already well established in tourism, online gaming, manufacturing and financial services, is diversifying into cutting-edge fields such as AI, Big Data, IoT and DLTs, with the ambition of becoming a world leader in these niche sectors. The aviation industry is experiencing notable growth, particularly in the fields of maintenance, repair and overhaul (MRO), engineering, and now also in the promising UAV sector. In addition, Malta is positioning itself in the nascent medical cannabis sector, and taking advantage of its sunny climate to distinguish itself in the expanding digital games and digital creativity markets.
300 days of sunshine a year
The magazine "International Living" ranked Malta first for its climate, considered to be the best in the world. With a temperate year-round climate and over 300 days of sunshine a year, Malta has earned this enviable distinction. Expatriates can enjoy the sun all year round, with 12 hours of daylight in summer and 5 to 6 hours in winter.
Health
In 2000, the WHO ranked Malta's health system fifth in the world (World Health Report 2000: Health Systems - Improving Performance, p. 200). A Eurofound survey found that the people of Malta rate the health system very favorably and are very optimistic about their future. Most health services are provided by the government, free of charge, and are accessible to Maltese citizens as well as expatriates paying national insurance contributions. Private health services are also available.
Welcoming your family
Malta is a safe and family-oriented place, great news for expats moving to Malta with their families. The island has attracted an ever-expanding expatriate community; 25% of the Maltese workforce is made up of expatriates.
It's very easy to fit in due to the large number of expatriates, and the growing number of people moving to Malta throughout the year should make you feel right at home.
Various expat groups like Français à Malte have been set up on social networks to help and connect expats.
Education
Education in Malta is mainly provided by the government and is based on the British system.
There are a number of private schools and international schools adapted to expatriate children, with English as the language of instruction.
Baccalaureate courses follow the local curriculum and represent a promising pathway for children of expatriates who plan to pursue their studies and employment opportunities abroad. The University of Malta offers higher education in line with the Bologna Process.
Wages and Salaries
Wages in Malta (€15/hr) are lower than most EU countries (EU27 - €27.7/hr, EA19 - €31.4/hr), and the increase in the wage rate from 2018 to 2019 (1.0%) is also lower than its counterparts (EU27 - 2.9%, EA19 - 2.5%), according to a 2020 study. It is also worth noting that hourly labor costs in Malta are around half those of the EU27 and EA19. National insurance contributions are set at 10% of gross salary, capped at €2,500 for both employer and employee.
The only taxes on employment in Malta are national insurance contributions and personal income tax.
Taxation
Malta's corporate tax rate is 35%, but can be reduced to 5% for non-resident shareholders, thanks to Malta's tax imputation system.
The European Union and the OECD fully endorse Malta's tax system.
Malta Enterprise manages the Qualified Employment in Innovation and Creativity program, which offers a flat tax rate of 15% to eligible highly skilled expatriates.
Other similar programs are managed by different entities.
The personal income tax rate for individuals in Malta is attractive, even by international standards.
International talent
Malta is home to many talented individuals with high standards. It's a nest of opportunities.
Local talent, in addition to the global talent pool, can be called upon to provide the right skills for any project.
According to the Global Talent Competitiveness Report 2020,
Malta ranks 23rd out of 132 nations on its index. Malta has a good record in attracting and retaining talent, ranking 20th and 14th respectively.