The subject of CIV’s has drawn many questions in Malta and other EU member states. The issue lies with a lack of clarity on taxation and reimbursements as far as tax agreements are concerned. A thin line would have to be drawn between the funds and investors in order to deal with the criteria objectively.
The government of Malta has put in place a set of guidelines on the payment of VAT on leased Yachts. The regulations apply when a company registered in Malta buys a Yacht and decides to lease it to a third party. This system was put in place to help the owners of these luxury vessels to pay their VAT. The VAT payable is calculated from the proportion of time the yatch is supposed to navigate in the EU territory. It also enables them to acquire a certificate cleared of VAT arrears at end of the arrangement.
The Maltese government does not impose any restrictions in regards to the incorporation of offshore companies in the state. Maltese offshore companies are registered companies which operate in Malta but are run by foreign stakeholders. Setting up an offshore company in Malta comes with special benefits, such as lower tax rates as compared to that charged in their native states.
As an entrepreneur, it can be very frustrating to have a brilliant business idea but fail to implement it because of limited funding. To cater for great entrepreneurs with revolutionary ideas, the Maltese government created an agency called Malta Enterprise. The fundamental objective of Malta enterprise is to provide assistance and funding to Maltese high potential start-up companies.
The business environment in Malta is one that has been marked by change and diversification. Malta has expanded from being an agrarian-centric economy into, engineering, pharmaceuticals, hospitality, healthcare, aviation, maritime, electronics, and logistics. This has attracted a vast number of investors from all walks of life.
Malta is one of the most technologically savvy countries and is popular for its quick grasp on new technologies as well as implementation. It's also one of the few countries with smart cities. Being such a progressive country, Malta has attracted many IT investors from around the world and it's one of the best destinations for setting up a virtual office.
