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Solid Reasons for Choosing Malta |
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Malta is an ideal country for Insurance Management due to the numerous critical
success factors that it offers. The following are some of the main critical factors:
EU Single Passport Regulations
An insurance undertaking with a head office in an EU/EEA member of state
has the right to establish a branch or provide services in another EU/EEA member
state.
Flexible Taxation Regime
Malta has a modern and competitive tax regime, providing an excellent base
for setting up tax efficient structures. It also has comprehensive double tax treaties
with 42 countries. Income from all sources, including capital gains, is aggregated
for the purpose of tax. Companies are taxed at a fixed rate of 35%, but tax paid
by companies is imputed to shareholders upon dividend distribution. In most cases
where the risk is situated outside Malta, the effective tax rate will amount to
5%
English Language
English and Maltese are both official languages in Malta. Malta is one
of a few truly bilingual countries and business is generally conducted in English.
Moreover in legislation related to financial services the English version of the
law prevails.
Attractive Regulatory Environment
The Malta Financial Services Authority is efficient and approachable making
the application process and subsequent regulator relationship for prospective licensees
move smoothly as long as the legal requirements are satisfied.
Relative Cost Advantage
Malta is relatively inexpensive in most respects, including EU financial
centres
Other Advantages
A well educated/low cost pool of labour (availability of multilingual graduates,
insurance, legal and accounting expertise, efficient and hard working human resources)
Inexpensive and modern office developments with capacity
Excellent telecommunications infrastructure
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