Entrepreneurial Isles: a guide to Malta and Cyprus
Cyprus and Malta are island states occupying strategic positions in the Mediterranean region, which has instilled a tradition of trade and commerce in their very distinct histories and cultures.
Both have very open, entrepreneurial economies and offer highly attractive and flexible tax environments for businesses and individuals. Both joined the European Union at the same time in 2004 and, as former colonies of the UK, both have mixed legal systems of civil law and English common law and English is the second language of Malta and widely spoken in Cyprus.
In addition to thriving tourism sectors, both have developed financial services industries based on highly skilled workforces, technical infrastructure, and robust legal and regulatory frameworks, including tax efficiency.
There are many similarities between Cyprus and Malta, but there are also significant differences in what they have to offer to entrepreneurs and investors, or to new residents and retirees, and the way in which those benefits can be accessed and delivered.
We thought it would therefore be a useful exercise in this edition of the Sovereign Report to compare and contrast two islands that share the same sea and are counted amongst the smallest EU member states. We hope this will help to illuminate their strengths and assist clients to evaluate which jurisdiction might be the best match for their particular needs and goals.
Head of Business Development - Malta & Cyprus
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Entrepreneurial Isles: a guide to Malta and Cyprus business frameworks
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INTERNATIONAL RESIDENCY AND CITIZENSHIP PLANNING
The Cyprus Startup Visa Programme
Provides Non-EU/EEA entrepreneurs and senior executives with residency and business opportunity in Cyprus, together with corporate and personal tax efficiency and a simple pathway to EU Citizenship.
Lying in the north-eastern Mediterranean Sea at the crossroads of Europe, Asia and Africa, Cyprus occupies a strategic position for access to all three continents. Its two international airports – Larnaca and Paphos – make Cyprus an excellent platform for conducting business throughout Europe and the rest of the world.
James and Paris conquer World Marathon Challenge for SAF
The Sovereign Art Foundation (SAF) sends huge congratulations and thanks to Dubai residents James Elliot-Square and Paris Norriss, who successfully completed the World Marathon Challenge – running seven marathons on seven continents in seven days – with James overcoming injury by racing on crutches.
5 QUESTIONS WITH...
Jo Smeed, Occupational Pension & Savings Executive, Sovereign Pension Services (CI) Ltd
I accidentally fell into pensions. I’d travelled the world for 5 years and arrived in Guernsey and a friend asked me to join the Generali international pension team, and I thought, why not? The rest, as they say, is history. I’ve always been a people person, and pensions is a people business, so it all worked out in the end.
I love what I do. Growing the business, working with great people and I’m passionate about helping our clients meet their objectives. Whether that be an employer wanting to attract and retain staff or an employee wanting an easy way to save for their future.
Please contact us if you have any questions or queries and your local representative will be in touch with you as soon as possible.
