The EORI is a system that was designed with a mandate to make the identification of traders who interact with the Authorities much easier. This was done for all states in the EU and it involves the assignment of a reference number to each trader who is considered to do business wherever in the EU region. Thus business people can be identified in any member state through this unique number. This identification system, allows authorities of EU to share information with other entities. The EORI system also solved the problem of reference number mix-up whereby traders often registered their businesses too many times — by linking reference numbers with VAT numbers. This saves everyone extra work and time needed to adjust the systems constantly.
A vast majority of investors doing business in Malta opt for a private limited liability business entity. This is the most widely used company type in Malta, for good reasons — it’s quite flexible and offers the most benefits for foreign investors.
One of the most widespread and most preferred company types in Malta is the limited liability entity. This is attributed majorly to the increased level of flexibility and numerous tax benefits that this company type brings to non-residential investors. It’s also the most ideal legal structure for foreign companies who want to establish subsidiary branches in Malta.
Malta is a generally business-friendly country. The Maltese government is in full support of the business sector and it offers a lot of business opportunities and incentives for investors who want to set up a business in Malta. One of the first and most crucial steps in company creation is the selection of a legal structure (company type). There are many company types in Malta and before committing to one, you should evaluate all your options.
Ever since it’s incorporation in the European Union, Malta has grown to be one of the most attractive business destinations in Europe. Due to Malta’s lack of raw material, imports are more prevalent than exports. However, this does not stop Malta from flourishing, the country wisely leverages its tourism industry and it is currently one of its economic backbones.
Malta has probably one of the fastest growing economies in Europe—and is one of the most targeted investment destinations on the planet. This is owed to its top-notch business facilities, a friendly tax system, and expedient business policies.