Business In Malta
The Continuation of Companies Regulation 2002 is a sub article (425) to the Companies Act (CAP386). This law came into force to allow corporate entities re-domiciliation to other jurisdictions.
Various incentives and a strong economy makes Malta the preferred EU country to settle in for U.S. businesses. This article will introduce the basics of the Maltese economy, company formation and residence programmes for U.S. citizens.
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Business Bank Account In Malta – How To Apply?
VAT Return In Malta – A Detailed Overview
A co-operative is a great alternative to establish among competitors, in order to establish a body corporate being able to enter into agreements, fund and achieve a common goal.read more
When incorporating a company in Malta, a memorandum of association is required. This is important corporate document which regulates its external affairsread more
Due to Malta’s effective tax regime, a holding company in Malta can greatly improve your international tax planning. The holding company entitles its owners to a tax refund, no tax on dividends and no tax on capital gains.read more
The Private Limited Liability company is the most adopted type of business vehicle in Malta. The main reason is the legal protection it gives but also the minimum requirements for setting up this type of company. A private company must restrict the rights to transfer...read more
To maintain its place at the forefront of the cryptocurrency sector, the University of Malta is to provide a €300,000 scholarship fund for students of blockchain and distributed ledger technology.read more
We’ve all seen the movies and read the sci-fi books about machines and robots taking over the world. But how close are we to that becoming a reality? Smart contracts are becoming more and more commonplace in our society. Will they replace lawyers, accountants, and other officials completely or is this still just a fantasy?read more
While many national systems are seeking to take action against crypto-currencies by banning them and imposing limiting regulations, Malta is taking a totally different path. Malta is, in fact, currently preparing crypto-currency regulations, being the first country to do so.read more
Hong Kong-based cryptocurrency platform Binance has now migrated to Malta due to a recent ICO ban enacted by China. This move will essentially transform Malta into a “blockchain island”; a hub destined to transform the current cryptocurrency marketplace.
Modern day entrepreneurs have creative ways of raising money like crowdfunding, which is steadily gaining dominance. ICOs operate under similar principles in that investors are offered shares in a currency that is still in development. In exchange, they contribute the more popular digital currency such as Ethereum and Bitcoin. Fiat currency like the Euro and USD can also be used.
Malta’s recent conference to discuss Blockchain and Cryptocurrency Regulation. The conference was opened by Parliamentary Secretary, Silvio Schembri who expressed the opinion that the Maltese Government was planning to launch a new Digital Innovation Authority Bill (DIA) which will operate as the only regulator for ‘Innovative Digital Technology’. The Technology Arrangements and Services Bill (referred to henceforth as TAS) was also mentioned by Dr Schembri, as was the keenly anticipated Virtual Currency Act. The triumvirate of bills will form the foundation of the Maltese Blockchain and Cryptocurrency Regulation.
In 2009, a seismic shiver ran through the financial sector. The global financial crisis was more than just a practical disaster. On a psychological, philosophical, and ethical level, it exposed crippling uncertainties within the financial arena. Like a weed in the heart of the garden, the roots of this failure ran frighteningly deep.
Virtual currencies, also known by the name crypto currencies, are an entirely digital form of money. They are unregulated by any financial authority, instead being entirely under the control of their developers. National and international banks do not oversee the use of virtual currencies, as there is no physical aspect to them, and they are therefore, not considered to be legal tender.
In recent months, Malta has attracted ample digital currency companies, so much, that its becoming renowned as, ‘blockchain island.’ Several large cryptocurrency companies decided to move or extend their operations to Malta, such companies like, Binance, Bet365 and OKEx.
Changpeng Zhao, the billionaire that is behind one of the largest cryptocurrency companies in the world, Binance is behind the planning of the new decentralised bank in Malta. The bank will be called Founders Bank, and there is a reason to it. One of the main features that makes the bank unique and special, is the fact that it will not belong to any single entity or individual.
The SMEi (Small Medium Sized Enterprises Initiative) in Malta, strives to help local SMEs start and grow their business. Previously, the SME Initiative Fund stood at €15 million, however, after being topped up with €7 million, the initiative fund now stands at €22million. After being leveraged, this ends up being approximately €90 million dedicated for investment of SMEs.
Malta became a full member of the European Union in 2004, and in 2008, joined the euro. Subsequently, Malta’s commercial activity has grown significantly, and it has expanded into new sectors, with significant growth in service industries. Allied to this economic expansion, Malta has moved forward with social development, leading to impressive scores on various European and international development indices.