Malta is located in the centre of the Mediterranean Sea, uses English as one of its official languages and is positioned in a business friendly time zone. Since 2004, Malta has been a member state of the European Union, a market that opens doors to more that 508 million people across 28 EU member states. Malta is now a competitive financial centre for international business and foreign direct investment.
Malta is a country that has a stable political, social, legal and regulatory environment. Its 6.4% economic growth rate in 2016 was one of the highest performances in the EU, its real GDP increased by 7.2% in 2017 and Standard and Poor raised the credit rating at the end of 2016 from BBB+ to A-. Malta has also been on the OECD white list for a number of years.
International businesses are drawn to Malta’s location, strong reputation, compliance with EU directives, strong banking system and tax rebate policies.
History and legal system
During Malta’s history, they successfully defended themselves against the Ottoman Empire, were shortly occupied by France, and in 1814 they eventually became a British colony. Throughout World War II, Malta were given the title of the “unsinkable aircraft carrier”, their reputation upset the Germans so much that they launched a large bombing operation specifically against them. King George VI awarded the Maltese people with the George Cross in 1942 to record the “heroism and devotion of its people”. Malta gained independence in 1964, became a member of the European Union in 2004, and adopted the Euro in 2008.
Malta’s legal system was originally based on a codified Roman law, but when it became a British colony, the British brought with them many common law traditions. Malta now therefore has a hybrid legal system incorporating a strong civil law alongside common law structures.
This influence of common law has meant that the Maltese corporate law is largely modelled on the English law structure. This has allowed Malta to be flexible and diverse, another reason for the increase of companies and law firms moving into this jurisdiction. Malta has a history of implementing rules that allow for an open economy and direct investment, and has the reputation of being one of the most open economies in the EU.
For more information about our services in Malta, please contact: