Malta vs Andorra: which jurisdiction wins?

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

	Malta	Andorra
Tax headline	35% headline, ~5% effective via refund system	10% corporate, 10% personal
Formation days	7	30
First-year cost	$4,500	$6,500
Treaties	70+	9+
Substance	EU substance requirements + DAC6	Real residency required
Banking	Bank of Valletta, APS, plus EU EMIs	Andorran banks (Andbank, Crèdit Andorrà)

Talk to a partner before you incorporate.

Wrong jurisdiction, wrong substance, or wrong bank shortlist is a 12-month problem. A 30-minute briefing fixes 80% of it.