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What banks are there in Malta? An overview

Each client of Dr Wern­er & Part­ner who founds an LTD in Mal­ta soon­er or lat­er needs a bank account to guar­an­tee the company’s pay­ment trans­ac­tions. In so doing it is not, how­ev­er, absolute­ly nec­es­sary to open an account in Mal­ta. Thus we have some clients who main­tain their bank accounts with an inter­na­tion­al bank out­side...

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Creating substance in Malta by means of company relocation

Many coun­tries in the EU and else­where apply reg­u­la­tions based on CFC rules (https://en.wikipedia.org/wiki/Controlled_foreign_corporation). Inas­much as CFC rules are not observed or do not exist, Mal­ta has addi­tion­al­ly con­clud­ed dou­ble tax­a­tion agree­ments with many coun­tries. These cov­er sim­i­lar mat­ters includ­ing: the require­ments rel­a­tive to sub­stance and/or the organ­i­sa­tion of busi­ness premis­es with a view to...

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Four arguments against establishing a Malta Limited in Malta

At Dr Wern­er & Part­ner, we look after clients from all over the world who are seek­ing tax advice in Mal­ta or are con­sid­er­ing estab­lish­ing a com­pa­ny here. In a grow­ing num­ber of cas­es, how­ev­er, we do not advise estab­lish­ing a com­pa­ny, or at least rec­om­mend a dif­fer­ent set-up from what was orig­i­nal­ly envis­aged. The...

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Taxes in Malta — Incentives for companies, individuals and yacht owners

Mal­ta is not only a hotspot for tourists enjoy­ing the sun and the pris­tine waters of the Mediter­ranean, it is also becom­ing a pop­u­lar loca­tion for com­pa­nies to set­tle their busi­ness there, and for peo­ple mov­ing to Mal­ta to save income tax. The gov­ern­ment offers sev­er­al fis­cal incen­tives for busi­ness­es and indi­vid­u­als alike. Cor­po­rate tax...

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Number of registered companies in Malta now nearly 70,000

I have men­tioned in pre­vi­ous posts that more and more com­pa­nies are set­tling their busi­ness in Mal­ta, and that we are get­ting more requests from clients who are inter­est­ed in find­ing out more about the Mal­ta com­pa­ny mod­el. The finance min­is­ter of Mal­ta, Edward Sci­clu­na, has now stat­ed that the num­ber of reg­is­tered com­pa­nies in...

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Common Reporting Standard will come into effect in January 2016

The Com­mon Report­ing Stan­dard (CRS) is a mul­ti­lat­er­al agree­ment that was signed by 50 juris­dic­tions in Octo­ber last year in Berlin. The main aim of the agree­ment is the auto­mat­ic exchange of finan­cial infor­ma­tion to pre­vent tax eva­sion and fraud. The sign­ing juris­dic­tions will adopt the CRS from 1 Jan­u­ary 2016. The new reg­u­la­tions require...

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Tax optimisation with the Malta Limited company model

When you have an estab­lished com­pa­ny or you are a new entre­pre­neur, you prob­a­bly want to make the most out of your com­pa­ny and opti­mise the tax­es to ensure you have the best pos­si­ble com­pa­ny mod­el with­out evad­ing tax­es. Clients some­times ask us if it is tax eva­sion to make use of the Mal­ta com­pa­ny...

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Tax advantages and incentives of Malta

When Mal­ta joined the Euro­pean Union in 2004, the coun­try intro­duced an inter­est­ing tax­a­tion struc­ture aimed at for­eign com­pa­nies to move their busi­ness to Mal­ta and invest in the coun­try. The plan has suc­ceed­ed, and since then many com­pa­nies have estab­lished their busi­ness on the islands. Every com­pa­ny that is reg­is­tered in Mal­ta will have...

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New TV show Apocalypse Slough partially shot in Malta

A new dra­ma series from Sky1 is cur­rent­ly being shot in Mal­ta. Apoc­a­lypse Slough is an end-of-days dra­ma telling the sto­ries of events and peo­ple after a comet has hit earth. The show is expect­ed to be aired lat­er this year. The show fea­tures Hol­ly­wood star Rob Lowe, who is cur­rent­ly on film­ing loca­tion in...

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Labour costs rose by €2.70 since Malta joined EU

Since Mal­ta joined the Euro­pean Union in 2004, the aver­age hourly labour costs have gone up by €2.70. At the time they joined Mal­ta was on 11th place with aver­age labour costs of €9.60, and Bul­gar­ia had the low­est aver­age of just €1.60. After Mal­ta joined the euro­zone in 2008, labour costs went from €11.40...