Britain’s exit from the EU overshadowed a cloud of uncertainty over the future of many businesses and companies in several European states. This monumental event disrupted many business operations. While and Maltese businesses weren't an exception, their future is better promising compared to other EU countries. As you scout for potential relocation sites, Malta undoubtedly occupies the top of the options list.
Malta has generally grown to become a prominent hive buzzing with business activity and opportunities. Its business environment is characterized by the stability of monetary systems and other economic reforms which are favorable to business growth.
A couple of years ago, Teresa May, the prime minister of the UK initiated a move (facilitated by article 50 of the EU’s bylaws) which saw Great Britain’s exit from the Brexit being activated. Uncertainties from the negotiations table stirred anxiety in a number of public and private companies which wished to protect their assets and business, hence they sought out a sanctuary in stable environments which are conducive for productivity and profitability. Subsequent issues arising from this split would inherently leave unresolved issues such as immigration and emigration from the UK, trade facilitation bylaws which led to the destabilization of the money markets and a shift of currency power in the EU states.
The void of anxiety and uncertainty of the outcome of the Brexit negotiations has no doubt led to several businesses scouting for new homes.
Malta would definitely be a choice destination due to several factors we will discuss below.
- Malta is among the states with a top class workforce. The education system in Malta ensures that the general populace acquires high skills in English writing and communication.
- The versatility, stability, and viability offered by the economic development schemes in Malta offer every business an opportunity to grow and expand indefinitely.
- Every business is looking to invest in a state within which the government gives more than it takes, hence the relatively affordable tax schemes, tax reduction and by-laws facilitating for double taxation ensure that multinational and local companies domiciled in Malta are subjected to transparent tax reforms and requirements.
- Malta's industries have exponentially grown over the years through multinational investments which have seen gaming platforms being rehabilitated, pharmaceutical and micro-finance services being revolutionized. The gaming industry enhancement gives way to profitability and delivery of quality services by gaming companies in Malta, hence Malta's profound gaming reputation.
- Businesses benefit from fundamental monetary funds which conforms to the EU's regulations and standards.
Regardless of its relatively smaller sized economy and financial structure, Malta's economy is able to sustain businesses through creatively crafted and purposeful solutions.
For more insights on relocating to Malta, you may contact SIGTAX. Our invaluable team, which consists of expert lawyers, accountants and consultants will give you detailed information and counsel during each step. Our lawyers can also provide you with finer details on the legal aspects pertaining to relocation in Malta so that you don’t skip any necessary legal steps.