Malta vs British Virgin Islands: which jurisdiction wins?

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

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

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