Malta Launches Business Wallet To Cut Bureaucracy and Boost Efficiency

The Minister for the Economy, Enterprise and Strategic Projects, Silvio Schembri, has officially launched the Malta Business Wallet, a digital initiative aimed at reducing bureaucracy and improving efficiency for businesses operating in Malta.

Speaking at the launch, Minister Schembri described the project as a practical solution developed through collaboration between government entities, social partners and the private sector. He stressed that duplicated administrative processes have long hindered businesses and said the new system would help simplify operations while strengthening Malta’s competitiveness as an investment destination.

The initiative, which originated as an electoral pledge, has been developed by the Malta Business Registry and introduces the “once only” principle for due diligence procedures, alongside more standardised systems, reduced delays and increased efficiency.

More than 40 businesses are already participating in the initial phase. The platform also enables business owners to securely control access to their information in line with GDPR regulations and is now available on both Apple and Android app stores.

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