Luxembourg vs Malta: which jurisdiction wins?

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

	Luxembourg	Malta
Tax headline	24.94% effective; SOPARFI structuring lowers materially	35% headline, ~5% effective via refund system
Formation days	14	7
First-year cost	$12,000	$4,500
Treaties	85+	70+
Substance	Substance mandatory post-ATAD	EU substance requirements + DAC6
Banking	BIL, BGL BNP Paribas, prime brokers	Bank of Valletta, APS, plus EU EMIs

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