The Maltese Islands are located in the centre of the Mediterranean Sea, 93 kilometres from the southern coast of Sicliy and 290 kilometres from the shores of North Africa. Despite its small size and population of 400,000, Maltaís geographic position has historically placed the island in a strategic position and made it attractive to practically all of the empires that dominated the Mediterranean and Southern Europe in these last three Millenia. The Phoenicians, Carthaginians, Romans, Arab, Normans, Knights of St John, French and British, all realised the potential of the Maltese Islands.

The different cultures that invaded the island in these last 3,000 years have all left their mark and helped to create a hospitable and ambitious nation with a fascinating, chequered history and agreeable disposition. Today Malta is an independent, sovereign state with a parliamentary democracy which on May 1, 2004 became a member of the European Union. Malta’s membership in the EU provides for the freedom of movement of goods, services, citizens and capital between Malta and the other EU member states thus creating a single market of continental dimensions. In January 2008 Malta adopted the Euro as its official currency.

Apart from its location in the centre of the Mediterranean, the island has a highly skilled and educated English speaking workforce, an excellent communication structure, stable political and economical environments, excellent fiscal incentives, strong industrial relations record and, of course, a great climate. Malta is still a reasonably priced location where the cost of living and labour are relatively low and the quality of life high by European standards.

The Maltese economy is an open one that actively encourages foreign investment in Malta. Malta’s economy is diversified and relies mainly on tourism, high value added manufacturing and financial services that collectively account for more than 60 percent of the islandís GDP.

In these last six years Malta has actively participated, and with great success, in the remote gaming industry. Malta managed to set up and establish a premier, highly regulated jurisdiction that is estimated to host around 10 percent of the worldís on line gaming websites.

English is one of two official languages, the other being the Maltese language. English is widely spoken and written and is the language of legislation, education and business. Many Maltese are also fluent in other languages including Italian, German, French and Spanish. The Maltese have a very high regard for education with more than 60 percent of students following tertiary level education. The Island has one university which is the oldest in the Commonwealth outside Britain and which enjoys an excellent reputation worldwide.

The Maltese fiscal system has been one of the main drivers in creating an attractive environment for foreign investors. Malta operates a full-imputation tax system which has been deemed by the European Commission to be compliant with EU non-discrimination principles. Under this system shareholders are entitled to a credit for the company tax paid on distributed profits and will qualify for a refund when the credit exceeds their tax liability. Malta has a wide double tax treaty network and the combination of Malta’s tax system and its extensive treaty network provides for proper planning and restructuring and enable investors to achieve fiscal efficiency.

Although Malta is the smallest state within the European Union it is one of the fastest growing in terms of foreign investment. The combination of an efficient business climate, fiscal incentives, state of the art infrastructure, multi lingual competent workforce and a safe and climate friendly environment help to render the island a unique investment destination.

For further information contact maria.micallef@rsmmalta.com.mt