The Republic of Malta is an archipelago consisting of three Islands - Malta, Gozo and Comino. The Maltese Islands are situated in the middle of the Mediterranean Sea, about 100km south of Italy. The total area of the Islands is 316 sq. km.

Population

The population of the Islands is approximately 360,000. Maltese society is homogeneous, having its own identity and language. The natural population growth in recent years has been supplemented by a net inflow of Maltese who had previously emigrated to America, Canada, Australia and the United Kingdom.

Political Structure

Malta is a democratic Republic based on respect for the fundamental rights of freedom of the individual. The country became a sovereign independent nation when it attained its independence from British rule in 1964. The President is the head of the Executive, but the administrative powers are in practice vested in the Prime Minister and his Cabinet. Parliament is composed of 65 representatives elected every five years. The Judiciary enjoys full independence from the Executive and from Parliament, and a system of separation of powers, typical of the United Kingdom constitutional system, is operative.

Infrastructure and Economy

Malta has invested in one of Europe's most advanced telecommunications systems, including a full satellite direct dialling system connecting Malta with most parts of the World. Moreover mobile cellular communication has been established, and cable TV is also available on the Island. 

Considerable resources have been dedicated to the building of a new power station and water production to serve the Country's own needs. A new air terminal building has been erected in the last few years to ensure comfort and efficiency for the ever increasing number of incoming and outgoing business travellers and tourists.

Housing standards are high, and good quality office space is available. First class hotel accommodation is abundant. Malta has established its own Freeport zone for transhipment/bunkering. Tourism has reached unprecedented peaks of around 800,000 tourists per year. It has established an important host centre for International Agencies such as Regional Oil Competing Centre, the International Ocean Institute and the Foundation for International Studies amongst others. It also still maintains its traditional ship repairing and renowned ship repair docks and shipbuilding yards.

Malta has applied for full membership of the European Union, and the present Government is actively pursuing this aim. The economic, social and fiscal laws have in their majority been harmonised with the directives issued by the European Union from time to time, and although the party in opposition does not agree with full membership, it does state that it was to have a special relationship with the United Kingdom, should it be elected to power.

Language

The official language of Malta is the Maltese language. English is spoken by almost practically every Maltese citizen, and a good percentage of the population commands good knowledge of other European languages, mainly Italian, French and German. 
 

Currency

The Unit of Currency is the Maltese Lira, which is equivalent to approximately US$2.65.

Exchange Control

Restrictive Foreign Exchange Control regulations have now been relaxed and the Government is anticipating complete removal of any form of Foreign Exchange Control in the future. Offshore companies are not subject to any Foreign Exchange Control legislation.

Type of Law

The Civil Law is derived from Roman Law with many Common Law influences. Most of the Commercial and Corporate Laws are based on the English models which have been amended to cater for local requirements.