Business Policy

Malta is one of the most challenging places to start a business. Furthermore the digital infrastructure could be far better. It's time to remove the unnecessary red tape preventing people from establishing a business as fast as possible. There is also a lot of untapped potential when it comes to venture capital and investors. Let's make as many options available for local businesses to grow as fast as they can.

Addressing Bureaucracy

  • Expand the '‘One-Stop-Shop for Business - Business 1st'’ to facilitate any type of business & for further interactions between businesses & Government to be done digitally.
    • Functionality. The digital system should make it possible to;
      • Automate and simplify financial & data reporting;
      • Update and amend Shareholder records;
      • Handle fees & tax-related affairs, such as Corporate Tax, Value Added Tax and More
    • Accessibility. The registry should be accessible to all business types based and headquartered in Malta, including but not limited to;
      • Limited Liability Companies;
      • Partnerships;
      • Cooperatives;
      • More.
    • Scope. Ensure it can facilitate various business directions.
      • Cross-border business operations & strategies across the European Single Market & World,
      • Entrepreneurs with multiple start-ups & businesses.
    • Scale. Ensure it is equipped to support SMEs and start-ups among other business models.
      • Navigating legal requirements,
      • Venture capitalist and network access,
      • Incubators.
  • Registration Process
    • Reduce all costs to start a business of any type to €1.
      • Ensure any additional costs (licences etc) to operate the business across Europe do not exceed  €1,000.
    • Unleash Self-Employment/ Freelancers.
      • Ensure that a Self-Employed individual can locate and submit all documents required within a day, and can start working the following day.
        • Exceptions exist where specific licences are required (e.g food handling), which should be obtainable within as short a period as possible without loss of quality.
      • Ensure that the online platform to register is user friendly.
      • Ensure that the same online platform can be used by Maltese citizens, non-Maltese EU citizens and third-country nationals with residence or work permits.
    • Unleash Micro-Enterprises
      • Micro-Enterprises should be able to register and commence completely paperless & within 3 days.
        • Exceptions exist where specific licences are required (e.g food handling), which should be obtainable within as short a period as possible without loss of quality.

Encouraging Growth

  • Create a Business Incubator Network. Interlink Malta’s public & private incubators, to support start-ups with a wide array of information, options and tools. 
    • Foster diverse private incubators.
      • Tax-reduction incentives for advisory roles to start-ups.
        • Performance-based incentive.
      • Tax-reduction incentives for businesses making use of private incubators.
        • Participation-based incentive.
    • Create a private-public incubator to facilitate European expansion. This would exist for established companies in Malta which primarily operate in Malta (75% + of revenues), to accelerate their European Expansion.
  • Create an accredited Angel Investors & Venture Capital Firms Network. To ensure funding from highly experienced sources who have a strong familiarity with Malta’s and/or European Single Market business landscape.
  • Facilitate the creation of Venture Capital Firms.
    • Reduced Capital Gains tax on investments in Malta-based companies
  • Create Tax-Incentives for new SMEs for up to 3 years if they continuously create jobs or re-invest surplus.
  • Create incentives for Employee Stock Options.