Move your startup to Malta
If you’re thinking of starting an innovative business in Europe, look no further than Malta. The newly launched Malta Startup Residence Programme is evidence that you would be making the right move.
The new residence programme is complemented by a strong support package (financial and fiscal), making the country an enticing location for highly innovative startups and scaleups to set-up.
Non-EU founders, core employees and their respective family members are offered a 3 + 5 years (3+3 years for core employees) residence permit.
The programme, which is administered by Malta Enterprise and Residency Malta, enables Entrepreneurs to enjoy long term stability and to focus their energy on growing their business without the need to worry about residency.
Malta is a European island nation which is a full EU member state and the Schengen zone. The Euro is Malta’s official currency. It has constantly punched above its weight in economic development.
The country has been receiving top credit ratings which also reflect the political and economic stability that has been enjoyed over the years. Malta has continuously attained one of the lowest inflation rates and is one of the fastest growing economies in the EU.
The Malta Startup Residence Programme grants a 3-year residence permit to founders, co-founders, and core employees and family members which then may be renewed, if the business still satisfies the programme requirements.
Founders and co-founders would be able to renew the permit for another 5 years, whilst core employees would be able to do so for an additional 3 years, given that the startup company is still ongoing and that the applicants still meet the eligibility criteria of the Programme.
After completing 5 years in Malta, beneficiaries would then be able to apply for long-term residency. The Programme is also open to family members.
Malta has a concentration of industry players and talent, making it an ideal destination for startups to launch, grow and scale up their products and services.
The island boasts a diverse economic landscape ranging from financial services including fintech; digital innovation including AI, cybersecurity, i-gaming and digital game development; pharma extending to life sciences (including BioTech and MedTech) and the medical cannabis field onto maritime, aviation and other niche sectors.
Malta has a very competitive corporate tax regime while personal tax can down to 15% for highly qualified employees.
This burgeoning jurisdiction has robust legal and regulatory frameworks which promote growth and innovation without over-regulating, whilst ensuring consumer protection and market stability.
The country’s size also makes it ideal for testing new products and services since it is geographically manageable while still operating to the level of any other EU member state.
It also boasts a strong startup ecosystem supported by the Government’s economic development agency, Malta Enterprise.
Through a dedicated portfolio of grants and non-dilutive assistance, startups can enjoy financial support that will really give them an encouraging leg-up. Furthermore, Malta Enterprise offers a dedicated and personalized service to all those investing in Malta.
The Malta Startup Residence Programme requires founders to invest a minimum of €25,000 in tangible assets or paid-up share capital. The innovative business venture must have been registered for 7 years or less.
Such innovative startups shall be considered as eligible if they operate in one of the following business categories in Malta: manufacturing or comparable industrial services; software development; health, biotechnology, pharmaceuticals and life sciences; eco-startups involved in the blue, green and sustainable industries; other innovative economic activities or products which are currently not readily available in the relevant market or which shall be provided through a novel process.
Eligible innovative business projects must meet at least two of the following criteria:
- Propose products or services that generate income from various geographical markets;
- Produce products or services which are substantially improved compared to what’s available in the market;
- Utilise process which are new or substantially improved compared to what’s available in the market.
Malta offers instant access to the EU’s single market and the possibility to access other growing markets in the Middle East and Africa.
This is all being offered with Malta as a backdrop, one of the safest countries globally, where healthcare and education are of world-class, where English is a widely spoken official language and the preferred language to do business, where one can meet like-minded expats, these make up more than 25% of those in employment and where one can always find the opportunity to bask in the sun whilst enjoying pristine sea.
Click here to learn more about Malta and the Malta Startup Residence Programme.
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