What are the advantages provided to companies established in Malta?
Communication Team
Communication Team

August 10, 2022


What are the advantages provided to companies established in Malta?

Entrepreneurs today have a wide array of options to choose from when it comes to deciding where to set up their business. However, an increasing number of businesses are being registered in Malta, thanks to the advantages that this European country provides.

Malta is considered an attractive destination for businesses due to its political and economic stability, its strategic location between Europe and Africa, and its highly skilled workforce.

The government has been taking multiple measures to make the country more attractive to businesses, such as offering subsidies and tax incentives, investing in infrastructure projects, and providing a one-stop shop for business registration.

Today, we are going to take a more detailed look at the advantages that businesses enjoy when they are set up in Malta.

Advantages of running a business in Malta

Located in the middle of the Mediterranean, Malta has a long and rich history dating back thousands of years. The country is further a popular tourist destination, thanks to its sunny climate, beautiful beaches, and historical sites. This has given a significant boost to the Maltese economy, making it one of the fastest-growing economies in Europe.

The Maltese government is committed to attracting more businesses to the country and has put in place several advantages and benefits. These include:

A favourable tax regime

Malta has one of the most favourable corporate tax regimes in Europe, with a standard corporate tax rate of only 35%. This low tax rate applies to both local and foreign companies. In addition, businesses can take advantage of a wide range of double taxation agreements that Malta has in place with other countries.

Income Tax Return

The Maltese government also offers a number of tax incentives for businesses, such as the possibility of claiming backup income tax upon distribution of dividends to shareholders. This makes Malta an ideal jurisdiction for holding companies.

The rate of return depends on multiple factors. This can be either 2/3, 5/7 or 6/7 of the tax paid in Malta, depending on the shareholding structure and the activities undertaken by the company.

Special Taxes

A special tax of 15% is applied to income derived from certain activities that are carried out in a “knowledge-intensive” environment. These activities include research and development, high-tech manufacturing, and the development of software applications.

Other benefits of running a business in Malta

A stable political and economic environment: Malta is a politically stable country with a strong economy. It is also ranked as the 15th safest country in the world, making it an ideal destination for businesses.

Access to the European Union market: Malta became a full member of the European Union in 2004 and is part of the Eurozone. This provides businesses with easy access to the EU market of over 500 million consumers.

A highly skilled workforce: Malta has a well-educated and English-speaking workforce. In fact, the Maltese population has one of the highest rates of tertiary education in Europe.

A favourable location: Malta is strategically located between Europe and Africa, making it an ideal base for businesses that are looking to tap into both markets.

A one-stop shop for business registration: The Maltese government has set up a one-stop shop, called the Malta Business Registry, which provides all the necessary information and services for businesses that are looking to register in Malta.

Startup funding: The Maltese government offers a number of funding schemes for startups, such as 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, you will need to open a bank account. This can be done easily and quickly, as long as you have the necessary documents.

The documents that you will need to open a bank account in Malta include:

  • 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

While selecting your bank, make sure to compare the different fees and charges that each bank imposes. These can vary significantly, so it’s important to choose the bank that offers the most favourable terms for your business.

When you have all the necessary documents, you can open a bank account by visiting the chosen bank in person or by applying online.

Related: How to open a business account and to run a business in Malta

Opening a business account in Malta with wamo

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, a digital-only financial one-stop solution that offers a range of business accounts in Malta with low fees and charges.

While banks have certain rules and regulations that can delay your business processes, wamo has made it easy and simple for businesses to open an account with them. You can get your business account virtually and hit the ground running with virtual debit cards, multiple currency accounts, digitally generated QR codes, SEPA and SWIFT options that offer you to transact internationally and much more.

The process of opening an account with wamo is pretty simple:

  • First, you need to sign up on the website by providing your business email
  • You will then be asked to fill in some personal details
  • After that, provide some basic information about your business, such as the company name, registered address, and type of business – if applicable
  • Once you have provided all the required information, you will be able to choose your desired account type and set up your account password.
  • Registering takes about 10 minutes and wamo’s smart tech is able to quickly validate your identity and business so you’ll be ready to go in no time.

© wamo 2022, all rights reserved wamo & the wamo logo are trademarks and trade names of wamo technology Limited and may not be used or reproduced consent of the owner

wamo.io LTD incorporated and registered in the United Kingdom under the company registration number 12352849 and the operational office of which is at WeWork, 199 Bishopgate, London EC2M 3TY. wamo operates the wamo.io website and the app. wamo is not a bank, the current account is an e-money account. Issuance of Electronic Money and payment services is provided by PayrNet Limited. PayrNet holds an amount equivalent to the money in the wamo current accounts in a safeguarding account which gives the customers protection against insolvency. We are authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (register reference 922901) for the issuing of electronic money. wamo is an EMD agent of PayrNet.

© wamo 2022, all rights reserved wamo & the wamo logo are trademarks and trade names of wamo technology Limited and may not be used or reproduced consent of the owner