Malta – An attractive country for a second residency
Small island states have increasingly introduced investment residency programs as part of their strategy to strengthen their economies and attract skills and talents to their shores.
In turn, they offer investors permanent residence for themselves and their families, visa-free travel to Schengen countries, and a chance to participate in the country’s business and social opportunities.
Once such a country is Malta – an island nation in the middle of the Mediterranean Sea.
Peace of mind and quality of life
There are a multitude of reasons why Malta should not be overlooked as an investment migration destination.
Living in Malta could be considered much easier than in other countries as the Maltese are a hospitable and welcoming people and a large expat community has ensured a multicultural atmosphere over the years.
With a mild climate, over 300 days of sunshine, pristine beaches, a rich history and heritage, and an outdoor lifestyle, island life is easy.
However, this is juxtaposed with a strong economy, membership of the European Union, the Commonwealth, Schengen and the euro zone, a stable and highly regulated jurisdiction and a European standard of living.
Malta’s strategic location in the middle of the Mediterranean and its geographical proximity to Europe, North Africa and the Middle East means that it is well connected to the main regions and markets of interest with numerous air links. and maritime.
Malta has top-notch health services, easily accessible through reasonably priced health insurance.
With the onset of the pandemic, health authorities held daily public briefings to keep citizens well informed while introducing general restrictions that helped mitigate the spread.
Additionally, the country has recorded impressive Covid-19 vaccination statistics which topped the EU charts – it’s no wonder Malta ranks among the best for its healthcare facilities.
The country offers excellent educational opportunities with a range of public, religious and independent schools, as well as a reputed 400-year-old university.
With English being the official language and the global language for doing business, expats will have no problem communicating with the locals and getting set up will be easy.
Malta is also one of the safest countries in the world, with a negligible crime rate.
This should attract families who want to spend their time in an environment where children can run around freely with little supervision and women go out for jogging early in the morning, knowing that no harm will be done to them.
To do business
Investors and entrepreneurs are looking for jurisdictions with strong and growing economies, strong regulation, government support, and industry demand.
Malta ticks all of these boxes while consistently achieving positive ratings from credit reporting agencies and leading the EU rankings for economic growth.
The government has also set up a number of attractive business support agencies designed to help entrepreneurs start or grow their businesses.
With the size and makeup of Malta, it doubles as a full-fledged test market for new products and services.
Booming industries in Malta include hospitality, aviation, pharmaceuticals, marine, financial services and the knowledge industry.
A plan B for the future
There has never been a better time to consider economic mobility.
The pandemic has exacerbated issues such as security, free movement and timeliness, foreign investment considerations, access to high-quality health care and stability.
The Permanent Residence Program in Malta (MPRP)
The MPRP is a property-based investment residency program which gives beneficiaries the right to stay, settle and reside permanently in Malta.
With options to buy or lease property and contribute directly to the government, up to four generations can apply, making family relocation a possibility.
Applicants must also donate to a locally registered non-governmental organization (NGO).
Managed by Residency Malta Agency, applicants must go through a four-level due diligence exercise which ensures that only healthy individuals and families are granted Maltese resident status.
The program is simple and competitive and with the Agency promising a processing time of 3-4 months after submitting a complete and correct application, applicants can be reassured that it will not be a lengthy process. and endless.
Covid-19 has delivered the final blow to the concept of the traditional workplace.
While remote working has become extremely a measure for employers to control cases in the office, the future bodes well for hybrid arrangements that provide flexibility and improve work-life balance.
Teleworking is no longer the preserve of a few, many will now see how to best exploit this new way of working.
For those working in knowledge-based industries, working from one country while providing services to employers and clients based in other parts of the world is easier than ever.
Malta is already home to a large digital nomad community made up mostly of EU nationals who do not need any permits due to freedom of movement.
The new permit is intended to reach new niches beyond Europe as global mobility continues to gain popularity.
Applicants who wish to work remotely from Malta, for a temporary period of up to one year, must prove that they can work remotely, regardless of location.
They must either work for a registered employer outside Malta, carry out a business activity for a company registered outside Malta and of which they are partners or shareholders, or offer freelance or consultancy services to clients whose permanent establishments are located. found in a foreign country.
Millions of people are on the move and Malta is an ideal destination for investment migration solutions offering investors and nomads a safe, stable and hospitable country with endless opportunities and a relaxed lifestyle based on family values.
For more information about the Malta Residence and Visa Program, please click here.
To view our European Golden Visa Programs comparison table, please click here.
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