Malta vs Isle of Man: which jurisdiction wins?

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

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

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