Malta:
Country Profile 

The Republic of Malta consists of three islands, situated in the centre of the Mediterranean sea, just 80 kilometres off the southern coast of Sicily, Italy.

Climate: typically Mediterranean with scare rainfall between March and October.

Population: just under 400,000.

Total area: 316 km˛

Capital City: Valletta is a living, working city, the administrative and commercial heart of the Islands.

Official Languages: English and Maltese (Italian is widely spoken.)

EU Membership: full members since 2004.

Political Background: Malta obtained independent from the British Crown in 1964 and became a Republic in 1973. Malta enjoys a democratic system of government with respect for the rule of law. Malta is a member of the major international organizations including the United Nations, the Council of Europe, the International Monetary Fund and will join the European Union as a full member as from 4th May 2004.

Infrastructure: Malta has a sound infrastructure setup, both financial and geographical. Telecommunications, postal links, courier services, banking and all other services are generally speaking very efficient and of a high standard. AirMalta operates 35 flight routes mostly within Europe and the Mediterranean regions and most major European airlines have frequent flights to Malta.

Workforce: The workforce in Malta is largely efficient, English speaking and educated. Labour costs are competitive.

Tax incentives for foreign business: Malta grants tax and other incentives to foreign persons or firms setting up business in Malta, including low rents for factories and low interest loans. Favourable tax rates may apply to non-resident shareholders of Malta companies.

A financial centre: During the last fifteen years, Malta has developed into a modern financial centre and today ranks along with the major financial centres within the Mediterranean region.