After successfully settling in Malta, one of the non-negotiable things you will need is a bank account. A local bank account will make it convenient for you to receive your salary if you are working, pay bills, pay medical care among other activities.
A lot of investors are opening holding companies in Malta in order to benefit from the participation exemption regime. Holding companies serve as a great avenue for investors who want to hold assets in Malta or participate in other Maltese companies and yet benefit from the same operations and tax planning arrangements as other Maltese companies.
What is a holding company and what does it do
Malta is undeniably one of the best investment destinations in the world. Its financial sector is remarkable, and the Island is also among one of the few countries which have genuinely supported the growth and development of micro businesses in the European Union. Although setting up a business in Malta is generally very easy, a sole proprietorship is one of the most hassle-free legal structures one can adapt in Malta.
Multinational companies and native entities looking to establish an eatery-based enterprise in Malta are spoilt with a large variety of aesthetic and tourist-friendly locations. Entrepreneurs planning to delve into this lucrative industry can pick one of the following closely related commercial variants to conduct business activities.
Double taxation often crops up for companies doing business internationally and can be such a headache to the modern business world. Maltese citizens contemplating of doing business in Switzerland and Swiss citizens who want to do business in Malta vice versa will be relieved to know of the June 2012 standing treaty that prevents double taxation for legal entities carrying out taxable activities in either of the two states.
Although Malta and Russia have a long history of bilateral relations, they did not conclude a double taxation agreement until the 24th of April 2014. The treaty was signed in an effort to avoid double taxation as well as to prevent fiscal evasion in regards to taxes on capital and income charged on companies conducting business in the two countries. It came into effect on the 22nd of May 2014.