Setting up a business doesn’t have to be a complicated task when you have the right support and the appropriate knowledge for it. With the world going digital, you have the freedom to establish your company in any part of the world. The recent trends indicate that Malta has become a popular spot for this purpose and this may just pique your interest. Why are people opting for Malta to set up their business? There are numerous benefits that it offers and some of these include:
- Low taxes
The Maltese tax system has been designed in such a manner that it automatically brings in entrepreneurs and investors. The corporate tax rate is 35%, which may seem heavy, but the tax incentives and refunds that people can enjoy helps in cutting down this rate significantly. In fact, the effective tax rate in Malta is actually 5%, which is extremely low when compared to other areas. You can reach out to https://papilioservices.com/ for more information about setting up a business and taxes.
- Impressive workforce
One of the biggest reasons why Malta has become a top spot for setting up a business is due to the accessibility it offers to an educated and professional workforce. As opposed to the rest of Europe, the country actually has a highly qualified workforce because they have a high standard of education. Plus, the cost of hiring these professionals is also comparatively lower because the cost of living in Malta is low. Hence, you don’t have to pay extremely high salaries either.
- Excellent banking system
If there is one reason that has helped Malta get a lot of exposure, it is their excellent banking system. There are both national and international banks and the country boasts the 14thsafest banking system in the world.