Malta’s 2017 Budget is good news for digital entrepreneurs and investors
On Monday 18 October Malta’s government announced its budget for 2017 and in short it was good news for digital entrepreneurs and investors according to Mikko Puhakka, Senior Advisor at Ariadne Capital:
- There is a €250,000 tax credit for investors in SME’s or funds registered on Alternative Trading Platform of Malta Stock Exchange.
- Malta aims to become the first wifi state with its continued rollout wifi hotspots.
- An international ‘accelerator’ will be brought to Malta in order to assist local start-ups.
- The Maltese government is studying the Malta-France submarine fibre optic cable project to further reduce dependency on current structures.
- There will be a €3.2 million allocated to a second fibre optic cable between Malta and Gozo to make Gozo more attractive for digital business.
- A 25% to 45% tax credit on research related initiatives by business.
- There will be a simplification of new business set-up and reporting.
In summary, there are a number of new incentives and improvements but no new burdens for entrepreneurs or investors.
Mikko was born in Finland but has lived in 4 continents (Europe, US, Africa and Asia) and has just relocated from Beijing, China back to Europe and to Malta after a more than a decade in China. While majority of his work during last 25 years has revolved around developing business models and strategy in software companies, the result oriented approach has led to ‘’all sides of the negotiation table’’ successfully helping companies raise money, investing in companies, selling companies and also buying companies in diverse cultural environments. Besides direct assignments to companies ranging from start-ups to listed companies, Mikko has been actively building ecosystems around companies via various initiatives internationally including incubators and accelerators and chambers of commerce’s’.