Malta Best Place for Business – Forbes
Exante’s Communication Director includes Malta as one of the top places in Europe to do business and outlines a ranking which has impressed its EU counterparts.
There are certainly many EU and International countries that offer advantages, but few reach the business friendly and accessible environment of Malta. For many years, Malta has been one of the best places for business in Europe and around. Its business-friendly laws and welcoming environment have sphere the Island into the rankings of one the soundest economies in Europe.
For many, the island of Malta may be somewhat of a mystery given its relatively small size. However, its prime location in the central Mediterranean Sea has allowed it to become a hub of business efforts from Europe and Northern Africa which has in turn created an environment where companies have found it most profitable to locate. Creating a Malta company certainly offers many advantages along with consulting a lawyer Malta companies have found most beneficial when forming their business.
Malta continues to enhance its regulation of the financial services sector, with much kudos to it’s Finance Minister Edward Scicluna who passed additional legislation in 2014 and 2015 to improve anti-money laundering oversight for financial and gaming activities.
It has to be taken into account that expanding EU discussions of anti-tax avoidance measures, including the “Anti-Tax Avoidance Package” submitted in early 2016, have raised concerns among Malta’s financial services and insurance providers about passage of laws governing EU tax practices, which could have a significant impact on those sectors though
The current economic activity though has also positively impacted on employment figures. Indeed, unemployment is currently hovering around just 2 percent. The country’s economic vibe has acted as a driver for foreign direct investment with key foreign companies like Crane Currency and Aviation Cosmetics setting their operations in Malta. The economic turnaround has also seen local companies like Exante investing further. Credit rating agency Moody’s has revised its GDP growth forecast for Malta, and is expecting the country’s economy to grow at a faster rate than it had originally projected. The government’s excellent economic performance will allow the euro zone’s smallest state to move forward on important infrastructure projects which will develop the island into a centre of excellence.
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