This has been the basis behind the success Malta has achieved in attracting foreign investors in light industry. Reserves for foreign currency per head are amongst the highest in the world. The Maltese Lira is strong and stable. With more than 100 years experience behind them, Malta's banks are continually expanding and improving their services. Financial institutions have been streamlined to keep abreast of transformations that are taking place in what has become a global marketplace.
Business correspondence is mainly in English.
Most of the population is also fluent in Italian. TYPE OF LAW Malta is a Civil Law jurisdiction, however, all modern legislation including company, tax and maritime laws are modelled on their UK counterparts. This entails the issue of an exemption certificate from the Exchange Control Division, the deposit of the share capital and the filing of the Memorandum and Articles with the Registrar of Companies. All objects of the company are limited to trading activities outside Malta and to such other acts as are necessary for operations in Malta, and, except as provided in the Income Tax Acts, a company cannot carry out trading activities with persons resident in Malta. An International Trading Company is a normal onshore Maltese company, with the main distinction that its trading activities are carried out from, rather than in Malta.