Three Reasons Why to Start a Business on the Island of Malta
Malta has natural Mediterranean charm, historical monuments, medieval history, and lots of business opportunities. All this makes no surprise that more and more entrepreneurs are choosing to set up their businesses there. If you are not aware of the benefits of having a business in Malta, the following reasons will help you understand why you should do so.
- Tax Benefits
Malta offers one of the lowest corporate tax rates in the European region. It also allows foreign employers to enjoy considerable allowances. A foreign company in Malta only needs to pay value-added tax. Similarly, if you own a holding company in another country and receive profit distribution, you do not need to pay the 35 percent tax rate. The Maltese intuitive tax system charges on the surplus amount of income that exceeds €8500. It means you can draw the earnings you need from your company to reduce your tax rate.
- Increased Profit Rate
Malta has a viable business infrastructure, stable economy, and flourishing banking sector. All this helps any business be at ease. Since Malta endorses a low minimum monthly wage of €720, you do not need to spend lots of money on salaries to have skilled & motivated workers. As a business owner, you can also benefit from other less stringent laws on the expenses by claiming them back, including your business travel costs.
- Easy & Quick Company Setup
Opening a company in Malta is cheaper and easier than you may think it is. It only requires you to deposit 20 percent of the required minimum capital in your bank account. You will also need €100 as an annual fee of start-up cost. Many businesses do not require a license to conduct their operations in Malta unless they do not belong to regulated industries like medical and finance.
You can hire experts at https://papilioservices.com/ to start your process of a Maltese company formation today and enjoy all the benefits associated with starting a business in Malta.