Malta at a glance – October 2021

These emails are designed for those investing into Malta and those who have plans to do so. We aim to keep the points short and sweet, and to merely list snippets of relevant but easy to read information.

October 2021

  1. Aimed at motivating investment in small Maltese businesses, the Risk Incentive Scheme compensates investors in an SME (or a fund of SMEs) listed on an alternative trading platform, such as Prospects, for their risk, by granting tax credit of up to €250,000 per annum depending on the amount invested.
  2. Almost everyone in Malta speaks Maltese, English and Italian. Many also speak French and Arabic. The Maltese language is a semantic language finding its origins from Latin, Arabic, French and English.
  3. Although Malta has no formal transfer pricing rules in its domestic law, there is currently a move towards their introduction in the coming years.
  4. Although Maltese law typically follows the Italian civil law and criminal law tradition, the Income Tax Act and Companies Act are very closely based on UK / English law and English common law. In case of undefined terms, the law makes specific reference to English law including case law.
  5. Businesses operating from Gozo, the sister island of Malta, receive significant assistance in various forms. This is aimed at creating more work on the island, other than tourism.
  6. The Maltese Companies Act allows company secretaries in Maltese registered companies to be either physical persons or body corporates.
  7. Due to its unspoilt nature, quiet coastline and ancient artefacts and relative obscurity, Malta has been used as a film-location for many major Hollywood productions, from ‘Gladiator’ and ‘Troy’ to ‘Captain Philips’ and TV’s Game of Thrones.
  8. During the last 2,000-odd years, Malta has known 11 foreign rulers that have had a significant impact on the Maltese culture. Nowadays, though, Malta is an independent republic, having gained independence from Great Britain in 1964.
  9. English is one of the official languages of Malta. According to the Eurobarometer report (2012) ‘Europeans and their languages’, 89% of the population are able to hold a conversation in English, which is amongst the highest in the EU.
  10. For centuries, Malta has been a maritime nation of repute. Its strategic location in the heart of the Mediterranean Sea, deep natural harbours and well-equipped ports which offer a haven for international shipping, as well as an extensive range of international maritime services such as shipbuilding and repair, Freeport, bunkering, ship suppliers and towage services have historically contributed to making Malta a leading maritime hub.

This message is not given in the form of an opinion, legal opinion or tax advice. If any of the information provided is of interest or relevance to you or your company we would strongly recommend you contact us or another qualified professional for specific advice. 

Back to Facts for Foreigners