Malta: Ideal Business Scenario
Understanding what makes a country appealing as an investment destination is the first step to making an investment decision. For foreign companies that are already based in Malta, corporate taxation, fiscal incentives and aspects relating to human resources are key investment criteria.
During the past 40 years, the country has notched up an impressive record in attracting foreign investors to Malta, and who continue to re-invest in their production and service facilities on the island. How has Malta achieved this? By successfully moving from labour-based to knowledge based industry, and in doing so, attracting Foreign Direct Investment from countries like the UK, Germany, Italy, France, Spain and the United States. Malta's favourable industrial climate and pro-business policies have been the pillars in which foreign companies have built their success.
Adaptability, innovation, competitiveness and flexibility are key elements of Malta's economic strategy. Throughout the years, these traits have helped the Maltese to adjust to the island's realities as well as to those of the international business environment. This ability to accommodate necessity has kept investors interested in setting up business on the island. Today, official statistics demonstrate that the package the country offers, ranging from a highly skilled workforce, to the availability of fiscal and financial incentives, together with the fact that Malta is an EU and euro-zone state, makes Malta attractive even in difficult times.
The Maltese Archipelago is situated virtually at the centre of the Mediterranean. Malta lies around 90km south of Sicily and 290km north of Africa. An approximate of two to three hours are all you need to get to Malta by air from most European cities. Frequent and direct flights to Malta from major European cities are available, while other frequent flights are also operated from North African and Middle East destinations.
No other group of Islands can offer as much natural beauty, art and architecture, entertainment and activity as Malta can. Everything in Malta is close and easily accessible. Lifestyle is typically Mediterranean with warm summers and mild winters. Thus, one can enjoy the outdoor life 365 days a year.
Living in Malta is an unique experience, especially for those used to hectic city environments and long commutes between work and home. The island's small size and wealth of entertainment options means that in Malta, it is possible to have it all; work hard, play hard and relax by the sea - all in one day!
However, a relaxing haven in which to live and work is not the only benefit Malta has to offer. Residents enjoy an exceptional standard of living, with an average living cost substantially lower than that of Mainland Europe. At the same time, the island's very low crime rate means that Malta is a safe country to live in and is an ideal place to base families if one is engaged in commercial activities within the region. As a business destination Malta has much to offer, and as a home, there can be few places more idyllic.
Facts and Figures
Timezone: GMT +1
Official languages: Maltese and English
European Union Member: Since May 2004
Currency: Euro, since 2008
Climate: Mediterranean climate with mild, rainy winters and hot dry summers. Sunny climate with a daily average of 6 hour sunshine in mid-winter to more than 12 hours in summer.
Main Economic sectors: Tourism, financial services, ICT, high value added manufacturing, life sciences and pharmaceuticals, ICT, education and training, creative arts, aviation, maritime.
Main trading partners: Italy, Germany, France, UK, Singapore, USA and Libya