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Trade license no longer required for setting up businesses in Malta: report

Xinhua, October 14, 2016 Adjust font size:

Maltese Economy Minister Chris Cardona on Friday announced the removal of the requirement of a trading license to set up a business in Malta, local media reported.

The period to establish a new business will be decreased from 28 days to ten days and between 70 euros and 1000 euros will be saved in annual expenses for a business, he said.

The minister made the remarks during a visit to a sealing solutions company.

The new measure introduced following approval from the Cabinet is expected to affect around 30,000 businesses, many of which are small- and medium-sized enterprises.

Previously, under the Maltese law, businesses require a license issued by the regulatory authority to carry out commercial activities. Failing to do so entails a fine. Endit