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 and commercial property, leading to impressive scores on various European and international development indices.
In order to open a business office in Malta, you need to acquire an operating license that is often issued by the relevant government department. There is normally a fee for the license and it depends on the nature of the business you wish to start and where you want it located. To develop a business premise, you also need a license, which is normally issued by the Malta Planning Authority.
The Planning Authority (PA) is responsible for environmental regulation and land use planning in Malta. This national agency was set up under the Development Planning Act (1992) and Environment Protection Act (2001) of Malta laws. Entrepreneurs should understand the regulation and building permits in Malta before establishing a structure for their business.
In the past few years, many new businesses have been setting up virtual offices in Malta, to the point that Malta is now gaining a strong reputation in the new industries. From multinationals to traditional business hubs and ranging all the way to cutting edge technological and pharmaceutical firms, this peaceful and sunny island is now attracting in worldwide attention and investments.