Category: Residence

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Why you should open a company in Malta

Categories Residence, iGaming, Blockchain, Cryptocurrency, ICOs, Malta, Law, Bank, The Blockchain Island, E&S Group, Regulation

Why you should open a company in Malta

Choosing a jurisdiction to operate in, or a new location for a branch of your existing company can be a difficult prospect. Each country has its own pros and cons and knowing which one is best suited to your needs can be difficult to decipher.

The small island of Malta has long been a hub for iGaming, financial services, corporate services and fintech. Recently it is making a prominent name for itself in the field of cryptocurrencies and related industries. So why should you consider setting up base in Malta? What benefits does opening a company in this small, EU Member State afford?

Efficient registration procedure

The process of opening a company in Malta is relatively quick and efficient when compared to other EU jurisdictions. By enlisting the help of a specialist advisory such as E&S Group you can have a range of different company types or structures registered correctly and with minimal fuss. Directors and shareholders do not have to reside in Malta, the share capital totals EUR1164.69 with just 20% paid up upon incorporation, and as long as all documents are in order, the company can be registered within 2-3 working days.

Great fiscal incentives

Malta offers companies a highly efficient, EU compliant fiscal regime with an extensive double-taxation network. It provides a full imputation system for applicable entities, which allows shareholders to benefit from a refund of the tax paid by the company when distributions are made to them.

Tax benefits for Maltese holding companies

A Maltese holding company can be set up to hold securities, shares and business assets such as fixed assets, real estate, investment, bank accounts, aircraft, intellectual property, and yachts. The domestic tax treatment that is afforded to the income received by such companies as well as the countries participation exemption means that those choosing to set up a Malta holding company can enjoy attractive benefits as well as an excellent conduit to and from the EU.

A sound reputation

Malta has been a fully-fledged member of the EU since 2004 and since then, the country has cemented its reputation as a hub for business and new industries. In particular, it is renowned for its vast iGaming industry, its financial services industry, and now its burgeoning cryptocurrency sector. The country is home to international banks such as HSBC, BNF Bank, and Lombard, amongst others. Malta also transposed and enforced the EU’s Fourth Anti-Money Laundering Directive and its financial services sector is regulated by the Malta Financial Services Authority.

Solid infrastructure

You can fly to any EU city within three hours from Malta International Airport and Dubai is around five hours away. The countries employee pool is fluent in English, Maltese and often Italian with languages such as French and German being spoken widely. Malta enjoys fast fibre internet, a high standard of IT infrastructure, an experienced and highly educated professional workforce, and a full range of specialist ancillary service providers.

Good quality of life

Last but not least, Malta ranks as a country with the highest quality of life within the EU. The country enjoys over 3000 hours of sunshine every year along with long, hot summers, and short, mild winters. As far as recreation goes, Malta is rich in history, culture, heritage, and many opportunities to socialise and network. Professionally, the University of Malta lectures in English and many professional and internationally recognised courses can be taken locally.

 

E&S Group is a leading law firm offering various services with regards to ICOs. Feel free to contact us directly on +356 20103020 or by email at [email protected] to find out how E&S can help you in ‘making things happen’.

For more information click the link.

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Malta’s contribution to the world’s culture ranked 9th among 163 countries

Categories Modern, Residence, EconomyTags , , , ,

According to the Good Country Index, an index developed based on various aspects of countries, societies and cultures to determine the overall impact on our world, had ranked Malta 9th in terms of its contribution to world’s culture. The index evaluates contribution of 163 countries into the following aspects: science and technology, culture, international peace and security, world order, planet and climate, prosperity and equality, health and wellbeing.

163 countries have been analyzed and ranked based U.N. and other international organizations’ statistical data. The idea behind the developed index is to assess the overall world’s state, by determining each country’s contribution to a specific aspect.

Thus, Malta ranked 27th out of 163 countries according to the overall index, and in some of the areas has proudly ended up in the first 10, specifically: contribution to culture (9) and contribution to world order (7).

Impressive ranking for a small island like Malta is a great motivator to continue improving and contributing to the overall world’s well-being.

Safe environment and rich cultural diversity is another reason to consider relocation and residential opportunities in Malta, contact us to find out more.

www.ellulschranz.com

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Malta mentioned for the second time as the destination for 2018!

Categories Business, Modern, Residence, EconomyTags , , ,

Following Lonely Planet’s choice as one of the countries to visit in 2018, Malta is being chosen for the second time in one week as one of the main destinations of 2018. Malta has been mentioned in another respectable magazine, Architectural Digest. The AD Magazine follows the most attractive destinations to visit to explore culture, national heritage and natural beauty, has yet again chosen Malta as one of the places to visit in 2018. Architectural Design Magazine, stated the following:

“Named the 2018 European Capital of Culture, Valletta is a UNESCO World Heritage Site famous for its 16th-century fortifications created by the Knights of the Order of St. John of Jerusalem. The festivities planned will extend far beyond Malta’s capital, with some 400 events and 140 projects by 1,000 local and international artists, curators, performers, writers, designers, and filmmakers.”

AD also referred to the sunny and welcoming islands of Malta as “one of the most emerging and exciting destinations”. Malta’s Minister for Tourism, noted, that such positive feedback and recognition of Malta only proves once again that it is crucial to safeguard and preserve Malta’s heritage, traditions and culture. Consequently, MTA and the Ministry for Tourism will keep working together to ensure that Malta continues to stand out as one of the most culturally attractive destinations for travel.

www.ellulschranz.com

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“This tiny nation’s buzz has been building to a crescendo in preparation for Valletta’s stint as European Capital of Culture for 2018.”- Lonely Planet

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Lonely Planet, one of the most inspiring travel yearbooks and guides, named Malta Islands one of the destinations to visit in 2018. The Islands’ welcoming climate, friendly locals, delicious food and wine, magnificent architecture, rich culture and magically charming cozy streets will definitely make an unforgettable impact on everyone who visits the Islands.

Tom Hall, Lonely Planet’s editorial director explained; “Although small in size, Malta is a bigger hitter as a travel destination, with its combination of clear seas, blue skies and rich history. With Valetta set to sparkle as European Capital of Culture next year, Malta continues to be a great destination for travelers.”

Malta is passing through a vibrant economic boom led by the financial services and gaming Industry. These Industries have attracted talent immigration from all over the world further enhancing the exceptional feel good business atmosphere currently found on the Maltese shores.

Furthermore, besides its natural beauty, booming economy and charm, there are a lot of exciting events already planned for the upcoming year to make the experience of visiting Malta unforgettable for everyone.

www.ellulschranz.com

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Malta Residence and Visa Programme (MRVP) changes enforced

Categories Tax, Residence, RegulatoryTags , , ,

The new Malta Residence and Visa Programme  ( L.N. 189  of 2017 ) criteria were published in the Government Gazette of Malta No. 19,821 dated  04-Jul-2017. These amendments will come into force as with immediate effect and are not a substitute of L.N. 288 of 2015.

A summary of the key salient changes:-

  • The thirty thousand euro (€ 30,000) contribution fee now covers the Main Applicant, spouse, and the children of the Main Applicant  and/or the Spouse at application stage.

 

  • Introduction of an additional five thousand euro (€5,000) contribution, non-refundable per parent or grandparent of the main applicant or of the spouse at application stage.

 

  • Removal of the 27 years of age capping for the children of the main applicant and/or the spouse ( this means that children over the age of 27 at the time of application can be included, and that children do not lose the residency rights on their 27th birthday).

 

  • Removal of the requirement for the Main Applicant and his/her dependants to  spend outside of Malta a period that exceeds either six consecutive months or an aggregate period of ten months at any four year period from the appointed day.

 

  • Main Applicant and his/her dependants will become eligible to apply for Long Term Residence subject to the respective requirements being satisfied.

 

  • Approved children of the Main Applicant and/or the Spouse will retain residency rights as long they are not economically active and/or married at application stage. 

 The option for the Main Applicant, to apply against a non-refundable supplementary administration fee of five thousand euro non-refundable (€ 5,000) per person  , to include on the Main Beneficiary certificate (subject to a successful due diligence check) :

 

  • The spouse of a previously approved dependent child of the Main Applicant and/or the spouse

 

  • The child, born or adopted after the approval date, of a previously approved dependent child of the Main Applicant and/or the spouse, or of the previously approved dependant child’s spouse.

 

Feel free to contact us directly on +356 20103020 or by mail at [email protected] to find out how E&S can help you in ‘making things happen’.

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VISA-FREE TRAVEL FOR UKRAINIANS

Categories Business, Residence, Regulatory

The European Parliament today gave final approval to ease travel restrictions, allowing Ukrainians with biometric passports the right to enter the European Union for up to 90 days out of any 180 day period visa free for tourism, for visiting relatives or friends, or for business purposes, but not to work.

The measure, however, will not apply to all EU states, as UK and Ireland, plus Iceland, Liechtenstein, Norway and Switzerland regulate entry requirements according to their respective national laws.

The legislation still needs to be formally adopted by the Council of Ministers. It is likely to enter into force in June, 20 days after it is published in the Official Journal of the European Union.

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RESIDENT PERMITS ISSUED BY MALTA HIGHEST IN EU COMPARED TO POPULATION

Format ImageCategories Business, Residence, Regulatory

According to figures released by Eurostat, in 2015 Malta issued the highest rates of first resident permits compared to its population – 23.1 first residence permits issued per thousand population.

 

Malta was followed by:
Cyprus (18.4 permits),
Poland (14.3 permits),
Sweden (11.3 permits),
United Kingdom (9.7 permits).

 

According to Eurostat, increase was mainly due to the higher number of first permits issued in Malta for employment reasons.

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