British Virgin Islands vs Malta: which jurisdiction wins?

British Virgin Islands vs Malta — both credible, very different trade-offs. Below: side-by-side on the variables that actually move the decision.

	British Virgin Islands	Malta
Tax headline	0% corporate tax	35% headline, ~5% effective via refund system
Formation days	3	7
First-year cost	$2,500	$4,500
Treaties	Limited	70+
Substance	Economic Substance Act 2018 — relevant activities must demonstrate substance	EU substance requirements + DAC6
Banking	Limited domestic banking; introductions to EMIs and Caribbean/Asia correspondents	Bank of Valletta, APS, plus EU EMIs

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