Setting up a company in Malta is undoubtedly exciting. Not only is it an excellent place to do business, but it is also a country with beautiful scenery and gorgeous weather. Anyone who visits Malta falls in love with the country, thanks to its welcoming and loving people. But, why should you open a company in Malta? The scenery and the weather don’t really make a difference for the business, so why should you consider it? Listed below are some of the top reasons to do so:
- Lowest corporate tax rate in the EU
At first glance, you may think that the 35% corporate tax rate is quite high, but the fact is that you can reduce this to 5% to 7% if you reduce the profits to a holding company registered in another company. Plus, businesses can enjoy several tax benefits in Malta when they distribute profits to the shareholders.
- Lower minimum wage
One of the best reasons to open a company in Malta is the lower minimum wage in the country. It allows businesses to save a lot of money on wage costs, which allows your business to be more profitable.
- Low social securities
Both the employee and the employer are required to pay social security, which is about 10% of the salary. The fact that the percentage is so low means that it doesn’t cost a business a lot to hire employees.
- Low crime rate
If you take a look at the statistics, you will discover that the crime rate in Malta is very low. This makes the area very safe and it can reduce a company’s expenses because it means they have to spend less on security.
Apart from these reasons, businesses don’t have to deal with a language barrier because English is also spoken in Malta, making it a great spot for opening a company.