Malta Residence Secures Position in Europe
Ideally located between southern Europe, Sicily and North Africa, the Maltese archipelago enjoys a fantastic Mediterranean climate which is strongly influenced by the sea. A daily average of around 12 hours sunshine in summer going down to 5 to 6 hours in mid-winter. July is the hottest month in Malta with an average temperature of 27°C (80°F) and the coldest is January at 13°C (55°F) .This island nation is home to nine UNESCO World Heritage sites with Valletta ,the capital, being among them. This baroque city will don the crown of ‘European Capital of Culture’ in 2018. Malta offers 300 days of annual sunshine, a Mediterranean lifestyle and all within easy reach of London, Frankfurt, Paris or Rome.
The Benefit of a Global Foothold
In an unsettled, politically uncertain country and an ever changing world, acquiring a second residence or citizenship, is an intelligent decision and an investment for the future. Malta’s residency and citizenship schemes give you the right to live in this EU member state, having free movement within the Schengen area and at the same time live in a neutral, stable and secure country within it’s social and legal system.
The Malta Residence and Visa Program (MRVP) offers the right to settle in this centrally located EU country. It gives you the advantage of excellent infrastructure in an international business hub, exceptional educational opportunities and easy access to to the rest of the world.
The Malta Individual Investor Program (MIIP) or citizenship program is capped at 1 800 applicants and offers Maltese citizenship with a substantial economic contribution.
A Quality of Life
English is a Maltese official language together with Maltese, which is the sole survivor of Arabic dialects spoken in Spain and Sicily, in the Middle Ages.The island boasts excellent facilities and most government and private schools as well as the universities offer English tuition.
This relatively crime free country has an appeal as a second residence because of Malta’s firmly established affordable, high standard of living. Malta is cosmopolitan, but not costly.Whether choosing a modest apartment or a luxury villa, costs in Malta are very reasonable. Malta comes close to having the lowest cost of living in Europe, while still catering to all lifestyles. Moreover, the island offers highly sophisticated and reliable banking, taxation, insurance and communications services.
Malta has a highly family-oriented culture. Almost all restaurants and public places are family-friendly. Scarcely any locations in the world can offer the same high standard of security and stability that Malta does. The country follows a non-acceptance policy for corruption, and crime is almost non-existent. Children play on the streets, and there are still some areas where people leave their doors unlocked at night.
Experience the sea, cafés, restaurants, clubs, cinemas, theatres, sports clubs or gyms. Malta also hosts many great festivals of culture and art with renowned world artists visiting it’s shores. Each town or village has its own annual feast and parade for their patron saint. For those in need of some retail therapy, Malta is home ‘high street’ shopping for big brand names and markets for local goods.
Malta’s thriving real estate market and the benefits of buying property on the island, which is a requirement for residency or citizenship, further strengthen the island’s appeal to foreign investors. The rental market is also seeing an upward move because of the extremely high demand for rental properties.
Malta enjoys one of the lowest costs of living in Europe and has survived the global recession far better than most other EU nations. Since joining the EU, Malta has developed a world-class health and education system as well as an impressive commercial infrastructure.
Classified as an ‘advanced economy’ by the International Monetary Fund, it’s strategic location and reputation for stability and security has made Malta a leading European financial centre.
Services represent the largest and fastest-growing sector of the Maltese economy. Banking, investment, insurance, communications, software development, tourism, ship-repair/aircraft servicing, health care services, aviation, logistics, film industry, professional services, and back office operations are the largest service sub-sectors.
For exporters, Malta serves as a entrance to nearby markets. Malta could also serve as a test market to launch new products by allowing companies to determine customers’ behaviors and patterns on a small scale.
Individuals who are resident or permanently reside in Malta pay income tax on their worldwide income at progressive rates up to 35%. Meanwhile, individuals who reside but not domiciled in Malta and acquire residence status through residence or citizenship-by-investment programs, will be taxed based on a remittance system.
There are no inheritance, gift, or wealth taxes in Malta, which are serious additional advantages. However, a transfer duty is payable by the heir at 5% of the declared property value.
For those seeking a valuable second residence with enormous business opportunities in a prospering EU country, Malta, the Pearl of the Mediterranean, delivers on all counts.
Maltainvest, partnering with Frank Salt, one of the biggest estate agencies on Malta and Emd, an established multi-disciplinary firm based in Malta providing legal, tax, advisory and corporate services, offer you ,the client, a unique one-stop, professional service.