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.
- Functionality. The digital system should make it possible to;
- 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.
- Ensure that a Self-Employed individual can locate and submit all documents required within a day, and can start working the following day.
- 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.
- Micro-Enterprises should be able to register and commence completely paperless & within 3 days.
- Reduce all costs to start a business of any type to €1.
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.
- Tax-reduction incentives for advisory roles to start-ups.
- 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.
- Foster diverse private incubators.
- 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
- 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.