Isle of Man vs Malta: which jurisdiction wins?

Isle of Man vs Malta — both credible, very different trade-offs. Below: side-by-side on the variables that actually move the decision.

	Isle of Man	Malta
Tax headline	0% (10% banking/retail)	35% headline, ~5% effective via refund system
Formation days	5	7
First-year cost	$4,800	$4,500
Treaties	11+	70+
Substance	Substance requirements aligned with EU code of conduct	EU substance requirements + DAC6
Banking	IoM banks plus UK introductions	Bank of Valletta, APS, plus EU EMIs

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