Josef Mercieca
Tax Partner
Many individuals have invested in cryptocurrencies because they believed in the fundamental principles behind that platform and ended up with very high valued assets. Alternatively, others have generated profits from the technical analysis or speculation of the cryptocurrency market. Or it could also be the case that an individual has a combination of both and wants to ensure that his profits are not eroded by excessive taxation.
Malta has very competitive tax rates which can also apply in this industry. Depending on the yield of your investments amongst other factors, BDO would be in a position to advise you on how to best structure your activities in Malta to benefit from the local tax incentives and make more profits from your trading.
BDO Malta has also introducer agreements with all of the commercial banks in Malta. In this respect, we would be able to provide assistance in introducing our clients to licensed credit institutions and assist them with setting up their bank accounts to facilitate the operations of the proposed business model.