South African nationals wishing to obtain a Plan B abroad are increasingly considering Malta as a prime jurisdiction for a second country residency.
Find out how you can obtain second country residency below:
As a member state of the European Union, Malta is strategically well situated at the heart of the Mediterranean, with very close ties to mainland Europe, North Africa and the Middle East. In reality, the country is the entry point into Europe from the south and into Africa from the north, with good air route connectivity. It shares time zones with South Africa (GMT + 2), making it ideally suited for conducting local business from abroad.
Apart from the relaxed lifestyle and sun-drenched climate, very friendly and hospitable people, Malta offers South Africans the ability to obtain residency and allows for visa free travel to and within the European Union. Family members can also be included under the primary resident’s application, and depending on which residency programme you choose, you are not required to permanently reside in Malta in order to be able to obtain residency.
An additional draw card is the relatively friendly taxation requirements – residents are only taxed on their remitted income and Malta based earnings. A 15% tax rate is typically charged in respect of any foreign sourced income remitted into Malta. There is however the option of claiming double tax relief.
If you are looking for a stable political climate, relatively crime-free and safe to live in environment, having superb education and health services, look no further than Malta