A Malta offshore company has become the choice of many foreign investors as the jurisdiction is considered to be a highly attractive jurisdiction for the right reasons. The Maltese Islands are located between the crossroads Europe and North Africa, facilitating many trade and commerce activities throughout the year. Despite its seemingly small size of a land mass, the country has a well developed and matured financial services sector and is well equipped with infrastructure of optimal standards that attracts varying Foreign Direct Investments (FDIs) and also foreign investors. The high level of foreign investors can also be partly attributed to its competitive tax structure due to the extensive double tax treaties the country has entered with other jurisdictions. Aside from its attractive services sector, the country also provides a competitive talent pool of workforces that will be able to sufficiently meet the requirements of companies across the board. Given Malta’s rich history of commerce, trading hub and prosperity, it has inclined many investors to consider the option to register company in Malta. Before you decide to start a company in Malta, allow Tetra Consultants to share 4 top business ideas to consider to set up in the country.
1) Information and Communication Technology (ICT) Industry
The first top business idea to start a company in Malta is in the industry of Information and Communication Technology (ICT). Malta as a whole has made tremendous strides in developing itself into an information society. Taken from the 2020 Digital Economy and Society Index (DESI), the country ranks 5th out of the 28 EU member states and remains a front runner in terms of offering fixed broadband and extensive coverage of ultrafast networks and usage of big data. However, Malta was underscored in the area of digital public services. Whilst being a leader in providing e-services for government related matters, there is a low up-take on the usage of such services by the public. This gave reasons to the country to emphasize importance on digital integration and Malta rolled out various strategies and laid out regulatory frameworks to achieve further digitalisation of the nation. Some of the policies include The National Digital Strategy 2014-2020, Blockchain Strategy and Regulatory Framework and “Mapping Tomorrow” strategic plan, as part of the country’s national effort on digital transformation of the public administration. The implementation of said strategies continues to build on existing digitization efforts of businesses, digital skills and improvement of both e-government and mobile services, offering many entrant opportunities for foreign investors while associated with the ICT market. The ICT opportunities are not limited to purely supplying of products and services in the e-business and e-commerce fields. There is also demand in terms of ICT research, intelligence, cybersecurity and data-monitoring services that could be set up in the jurisdiction of Malta in hopes of further developing a high-tech industry.
2) Healthcare Industry :
The second top business idea to start a company in Malta is in the healthcare industry. In recent years, the healthcare industry of Malta has emerged as one of the country’s fastest growing sectors and it recorded a Gross Domestic Product (GDP) contribution of 8.97% in the year of 2018. The Maltese government began increasing efforts and promoting public-private partnerships in the healthcare industry in order to establish the nation as a Mediterranean hub for medical tourism, which had a substantial portion of the national budget allocated to investments in healthcare infrastructure. As of now, the focus in the healthcare industry of Malta is primarily on the production of pharmaceuticals and medical devices. In 2018, Malta also enacted the “Production of Cannabis for Medicinal and Research Purposes Act”, allowing an avenue for firms to cultivate, process, produce and trade cannabis under regulatory requirements for the purpose of medical and research reasons. Given the investments and increasing importance of healthcare, the health industry is one of the top industries to start a company in Malta.
3) Gaming Industry:
The third top business idea to start a company in Malta is in the gaming industry. The gaming industry in Malta has revolutionised itself in just over a decade, being the top European jurisdiction for gaming operators to set up store in. Malta has taken a front row seat in the legal and operational infrastructure of the gaming industry, seeing progressive innovation and regulation in gaming. In 2018, regulations governing gambling were completely reconstituted to meet the growing presence of gaming in Malta. The country has also launched a sandbox framework which pertains to the use of Virtual Financial Assets (VFAs) within the gaming industry as a form of payment option in order to meet the disruptive nature of technologies and to maintain its position as a pioneer in gaming laws. Hence, the gaming industry offers many opportunities for potential gaming operators to start a company in Malta.
4) Maritime Industry:
The fourth top business idea to start a company in Malta is in the Maritime Industry. Given its strategic location of being located in the center of the Mediterranean Seas and serving as the crossroads between Europe and Africa, it should come as no surprise that the country experiences a thriving maritime environment. This gives rise to huge rewards for those who are seeking to enter the Maritime Industry of Malta.
Engage Tetra Consultants as we guide you on how to register a company in Malta through a smooth and hassle-free process. The team provides a comprehensive service package that includes planning and strategizing with our clients to select a suitable business entity, completing the registration and documentation processes, obtaining required licenses, opening a corporate bank account, and ensuring your compliance with the government regulations.
Contact us to find out more about company registration in Malta and our dedicated and experienced team will revert within the next 24 hours