With 7,000 years of history behind it, Malta is a modern country with an open market economy, excellent economic track record, stable currency, low inflation and enjoys a high standard of living at relatively low cost.
The Maltese islands comprise an archipelago in the Mediterranean, occupying 316 square kilometres approximately 100 kilometres south of the Italian Island of Sicily. Only the three largest islands Malta, Ghawdex (Gozo) and Kemmuna (Comino) are being inhabited, however development schemes in Manoel Island are in the pipeline. Malta's picturesque charm and historic appeal, enhanced by its strategic position in the heart of the Mediterranean make the island a remarkable tourist destination offering modern five star hotels, numerous beaches and a typical Mediterranean climate with mild, rainy winters and hot, dry summers.
Malta is an independent republic and a member of the British Commonwealth. Since the mid-eighties Malta has transformed itself into a freight transhipment hub and a first class financial centre with reciprocal insurance and investment legislature regulations. Malta boasts an independent Financial Services Authority based on the British system. The islands have a hi-tech manufacturing sector and at present are working on an advanced system of e-government aimed at creating the first e-government state supported by one of the world's first fully digital telecommunications network.
Malta became a member state of the European Union on 1st May, 2004. Malta is well paced to reap the benefits from EU accession and embark on a path of rapid growth. Its human capital and geographical location place it in a favourable position in this regard. Corporate law in Malta is in full conformity with European requirements; accounting and auditing standards are based on International Accounting Standards.