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Maltese Economy

Financial services, fintech, science and technology, high value manufacturing, health, tourism, education, iGaming, maritime services, aviation and creative industries are the dominant features of Malta’s economic landscape. In particular, Malta’s EU and Eurozone membership helped the country to strengthen its services sector, and the export of services across the EU member states is today a prime driver of economic growth.

Why do business in Malta

Malta may be one of the world’s smallest countries, but it is also a vibrant financial hub where fintech start-ups, fund managers, insurance firms, payment providers, and family offices work within walking distance from each other. Regulatory innovation and emerging technologies are creating the right conditions for financial companies, both big and small, to prosper. Add to this a seasoned talent pool, strong language skills, a competitive business environment, and high quality of life, and it becomes clear why investors believe in Malta, its potential, and its future.

  • A Dynamic and Diverse Financial Services Sector

Malta has built a comprehensive financial services sector with a rich mix of international, regional, and local institutions. Despite our small size, we made the conscious decision to support a variety of financial activities and specialist segments. Asset management, insurance, banking, private wealth, and fintech are the dominant forces of our finance industry.

Moreover, aviation, yachting, maritime services, space finance, and sustainable finance are also playing important roles. We believe in the power of different clusters of activity. This diversity helps us to thrive and promotes cross-sector partnerships and cooperation among companies operating from Malta.

Moderate operating costs coupled with a well-trained population and a desire to support innovative ideas make us the ideal location for small and medium-sized organisations, regional headquarters, back-office functions and fast-growing fintech firms.

  • EU Member State

We are a gateway to markets and opportunities in the European Union. Located at the centre of the Mediterranean, between Europe and North Africa, Malta is the European Union’s smallest member state, yet it is deeply integrated in the world of finance.

From Malta, financial services companies can access the EU’s massive single market of over 500 million people. Companies can conduct business freely and sell their products in all EU member states and/or establish a business in another EU country provided that passporting and notification procedures are followed if required.

In addition, Malta has a network of some 70 double-taxation treaties, covering most of the world’s high-growth markets, facilitating trade and international business.

  • A pro-business environment

We have reformed many aspects of doing business in Malta in recent years. Our business regulations are transparent, and many processes have been streamlined to mitigate delays. All laws and regulations are published in English.

Setting up a business in Malta is rather easy. Business First is our central contact point guiding entrepreneurs on the formalities of setting up and running a business in Malta. Many processes have been digitised and establishing a company takes just a few days.

There are several types of business structures that can be established in Malta – some of them have been designed in direct response to sector needs. Our cell company legislation is a case in point. Originally introduced for the insurance sector, cell companies are now also popular in asset management, shipping, and aviation.

Innovation centres, accelerators, and industry hubs as well as incentives for R&D activities and grants to train your staff are some other elements that add to the corporate conditions on offer in Malta.

  • A Skilled Workforce

Our workforce is highly qualified and multilingual. Around one-third of adults living in Malta have a degree, and subjects such as finance, accounting, law, and IT are popular courses and attractive career paths. Most Maltese speak at least three languages: Maltese, English, and either Italian, French or German.

As a small country, we pay particular attention to developing international skills in students, trainees, and career starters. We want them to be comfortable working in companies with complex geographic footprints.

Our talent pool is also surprisingly diverse due to the many international workers that have relocated to the island over the past two decades. Our relaxed lifestyle, balmy climate, and UK-inspired educational system make Malta a popular expat destination for families with young children.

We know that, at times, it may be difficult to find talent with specialised skills on the island. We are supporting companies looking abroad for the right candidates and have introduced tax incentives for highly qualified professionals taking up positions in Malta, which can sweeten your job offer to the most talented minds.

  • Connected Infrastructure

We are an island, but we were never really cut off. In fact, our strategic position at the centre of the Mediterranean has established our role as an important hub for trade and exchange. Our geographic location enables easy access to markets in Europe, Africa, and the Middle East. We have an extensive network of flight connections and major European economies, including the United Kingdom, Germany, and France, can be reached in just two to three hours.

Our digital infrastructure is well advanced and will ensure your business stays connected. We are one of the few countries in the world with 5G nationwide coverage while we are also meeting the EU’s target of 30 Mbps bandwidth nationwide.

The island is internationally connected via four submarine fiber-optic links to mainland Europe, with a fifth cable to be completed by February 2022.

Comprehensive financial legislation

Comprehensive financial legislation

Caters inter alia for the regulation of investment funds, insurance companies, securitisation, banking and financial institutions, offering many regulatory structures that are unique in Europe

Accessible regulator

Accessible regulator

Respected and forward-looking, the regulator is accessible with risk-based supervision

Advantageous geographical location

Advantageous geographical location

Malta is within three hours’ direct flight time from other European financial centres; moreover, Malta Freeport is a main regional hub. Malta is part of the Schengen area, which allows travel between member states without internal border controls

EU Member State

EU Member State

A full member state of the European Union and part of the Eurozone, providing Malta-based businesses with instant access to the EU’s internal market of over 500 million people

Diversified Economy

Diversified Economy

The tourism sector contributes some 25% to the island’s GDP; however, a variety of service businesses have joined the traditional economic generator, and services now account for 75% of Malta’s GDP. Industry accounts for 23% and agriculture for 2%.

Technology & Services

Technology & Services

Key to Malta’s success as the most successful knowledge-based economy in the Mediterranean region has been the growth of service-focused businesses in fields such as ICT and the booming Maltese financial services industry. Expansion of the fintech industry together with life sciences and education pave the way for a prosperous future.

Key Facts about Malta

EU Member State

EU Member State

Commonwealth Member

Commonwealth Member

OECD Member

OECD Member

Member of Schengen Area

Member of Schengen Area

Eurozone

Eurozone

CET Time Zone

CET Time Zone

Situated between Europe and Africa

Situated between Europe and Africa

Transhipment Centre

Transhipment Centre

Excellent ICT Connections

Excellent ICT Connections

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Life in Malta

More than just a smart place to invest, Malta is a multi-faceted jewel shining at the centre of the Mediterranean. This small, friendly and welcoming island contains everything you could want to strike that perfect balance between business and pleasure.

Although Malta is a small country, it offers a variety of lifestyle choices that range from urban, cosmopolitan and luxurious to relaxed and rural. Boasting a diverse range of shopping, cultural and leisure activities, all at affordable rates, Malta provides expatriates with a unique opportunity to live every aspect of life to the full.

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Services in Malta

The links provided are a useful list of entities related to the financial services sector in Malta.

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