More EU citizens are expected to choose the Malta flag for their ships/ yachts in view of the recent amendments allowing EU citizens residing in Malta to register their vessels directly under their ownership without the need to appoint a resident agent, who is generally appointed for reasons of representation and daily administration relating to the vessel.
Malta a transshipment hub: the Malta Freeport has recently experienced the largest car transshipment operation of its type to occur in Malta when approximately 2,400 vehicles were released in its terminals. This continued to confirm the excellent international reputation of the Malta Freeport facilities which facilities are being chosen by large international cargo transportation companies and cargo transport service providers.
Last week, members of the Executive Committee of the Tunisian-Maltese Business Council met with the Ambassador of Tunisia, Ms. Souad Gueblaoui, to discuss, among other things, how to make the most of business opportunities and how to optimise trading activities between Malta and Tunisia.
The Malta Film Commission and Rome's Cinecitta Studios have come to an agreement to allow productions shot in Italy and on the Maltese islands to tap tax credits from both countries and other benefits.
The Double Tax Agreement signed between Saudi Arabia and Malta on the 2nd January 2012 has been approved by Saudi Arabia's lower house of parliament, the Majlis al-Shura. The law was forwarded to King Abdallah for ratification on the 9th April, 2012.
Tecom Investments, an equities firm based in Dubai, is negotiating with the government of Malta to increase their local investments. It has set its sights on investing in educational programmes and learning exchanges in Malta and benefit from the local expertise in ICT, financial services, and online gaming.
The agreement on exchange of information in tax-related matters between Gibraltar and Malta has entered into force on the 1st of April 2012.
Norway and Malta signed a new double taxation agreement on the 30th of March 2012 after ongoing renegotiations.
The MCA has launched a licensing scheme for the testing of wireless communication equipment. The licensing regime is geared to facilitate the testing of technologies and services which are still not fully developed, offers the possibility for an accelerated licensing procedure, as well as attractive licence conditions and fees.
Reflecting Malta’s increase in foreign direct investment, in 2011, Malta recorded a net surplus of €25 million, improving by €181.7 million on the previous year.