Malta is a great place to open a business. The country has the lowest corporate income tax rate in Europe and offers an advantageous tax regime for both domestic and foreign investors. Malta also offers a wide range of double tax treaties, full imputation system and participation exemption regime. In addition, there is 0% withholding tax on the export of dividends, royalties and interest.
Malta offers a wide range of double tax treaties.
Malta offers a wide range of double tax treaties. Malta has signed double tax treaties with over 50 countries, including most EU member states and the USA. This means that if your business is registered in Malta, you will be subject to taxation only on Maltese-source income. If your business has any foreign-source income, it may be exempt from taxation based on the treaty.
Malta is also a member of the European Union (EU). As such, it must apply EU directives relating to VAT and other taxes on goods and services supplied within the EU. These directives require all EU countries to impose value added tax (VAT) at the rate set by their government but no higher than 17%.
Other advantages of running a business in Malta
Malta is politically stable, with a strong economy. It is also considered the 15th safest country in the world—making it an ideal destination for businesses.
Malta has been a full member of the European Union since 2004 and is part of the Eurozone. As such, it provides businesses with easy access to over 500 million consumers in Europe's largest economy.
Malta has a well-educated, English-speaking workforce: in fact, the Maltese population has one of the highest rates of tertiary education in Europe.
Malta's location between Europe and Africa makes it an appealing base for businesses that want to reach both markets.
The Maltese government has set up a one-stop shop that provides all the necessary information and services for businesses looking to register in Malta.
The Maltese government offers a number of funding schemes for startups, including the Malta Enterprise Grant Scheme and the Business First Grant Scheme
What do you need to open a bank account in Malta?
If you are planning on setting up a business in Malta, one of the first things that you will need to do is open a bank account. This can be done easily and quickly—as long as you have all of the necessary documents!
To open a bank account in Malta, you will need to provide the following documents:
- A valid passport or ID card
- Proof of address (utility bill, bank statement, etc.)
- A business plan
- The company’s Articles of Association
- The company’s registration certificate
- The Maltese tax registration number
Try wamo! Open your business bank account easily
If you're looking for a bank that offers favourable terms for businesses, there are plenty of options to choose from in Malta. One such option is wamo, which offers business accounts with low fees and charges but also features like daily rent payment through its app or the facility to send international money transfers directly via email at no extra cost.
Wamo has simplified the process for opening an account with a bank, leaving businesses free to focus on other things.
You can open a business account virtually, then use the digital debit cards and multiple currency accounts to transact internationally.
The process of opening a business account with wamo is so simple:
- To sign up, you need to provide a business email address.
- After that, you will be asked to fill in the necessary personal details
- Fill out the basic contact information for your business, such as your company name, address and type of business.
- After entering all required information, you will be able to choose your desired account type and set up a password.
- It only takes 10 minutes to register with wamo, and the company's smart technology quickly validates your identity and business so you'll be ready to go in no time.