Malta’s legal and economic landscape
The Maltese legal system is a reflection of the cross-currents that have influenced Malta’s history as well as European history over time. Roman Civil Law and English Common Law systems have come together to shape the Maltese legal system.
A hybrid legal system
Historically Malta was always considered a civil law jurisdiction with the main civil, commercial and criminal laws being based on the continental European system. However, 160 years of British rule have influenced an increasing number of laws in the administrative, financial, fiscal and corporate law fields, resulting in mixed or ‘hybrid’ system.
Fully EU compliant
Today Malta is internationally respected as a financial services centre and as a jurisdiction where a robust legal environment spearheads the country’s growth. Both these areas of service specialisation are fully compliant with EU laws and regulations.
Malta’s competitive advantage
Malta’s competitive advantage in the financial services sector can be attributed to a rigorous and constantly updated fiscal regime. This regime consists of a flexible and wide-ranging system of Double Tax Relief, including a wide treaty network with over 60 signed Treaties that are largely based on the OECD Model.
A number of other factors contribute to Malta’s competitive advantage in this sector. Malta enjoys a robust and constantly updated legislative and regulatory framework for the financial services industry, investment services and the banking sector. The country also offers a single regulator for the financial services sector resulting in a prudent yet flexible approach and a network of highly skilled professionals in the legal and financial services sectors.
History and some key facts
An archipelago situated at the centre of the Mediterranean with Malta, Gozo and Comino being the largest of these islands.
Malta and Gozo feature a rich array of cultural and historical attractions, thanks to the various rulers that left their influence over the years. The Maltese islands were colonized by the Carthaginians, Romans, Arabs, Normans, The Knights of St. John, the French and the British.
Malta became an EU Member State in 2004
After gaining independence from the British in 1964 and becoming a Republic in 1974, Malta’s rapid development provides other benefits.
A euro currency country
Malta has adopted the Euro as its currency and is a signatory to the Schengen Area.
3rd best climate worldwide
The 2011 index of International Living magazine ranked Malta’s climate as third best out of 192 countries worldwide.
A service-based economy
The island of Malta now combines a relaxed Mediterranean lifestyle with a thriving services-based economy. Tourism, financial services and ICT are the main pillars of the economy. Gozo, Malta’s sister-island, offers beautiful beaches and countryside and a more tranquil and traditional way of life.
A multilingual population
Maltese is the national language. English is an official language. Italian is widely spoken.
A stable economic and political environment
Malta’s resilient economy, parliamentary democracy and cordial international relations combine with a stable and tranquil lifestyle with a high standard of living.
Situated at the crossroads
Located just 50 miles (80 kilometres) south of Sicily and 174 miles (284 kilometres) North of Africa, Malta has a strategic geographical location. The country serves as the perfect platform to for any major European destination. In communications terms, Malta combines a reliable transport infrastructure and a highly developed communications infrastructure.
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