Malta vs Cayman Islands: which jurisdiction wins?

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

	Malta	Cayman Islands
Tax headline	35% headline, ~5% effective via refund system	0% corporate, capital gains, and income tax
Formation days	7	5
First-year cost	$4,500	$4,200
Treaties	70+	Limited
Substance	EU substance requirements + DAC6	Economic Substance Law applies to relevant activities
Banking	Bank of Valletta, APS, plus EU EMIs	Top-tier prime brokerage and crypto-friendly banking via Cayman National & private banks

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