It is good news for British Nationals residing in Malta, as they will not lose their EU residency rights and obligations after the UK leaves the EU on the 1st February.
UK nationals and their family members who are in Malta would be subject to the same rights and obligations as EU nationals.
What’s more? This also applies to UK nationals who move to Malta this year between 1st February and 31 December 2020. A Home Affairs Ministry spokesperson stated that British residents will be covered by these EU rights and obligations “indefinitely and throughout their life provided they continue to satisfy the relative conditions”.
Relocating to Malta provides several advantages. Besides the obvious – abundant sunshine and a Mediterranean lifestyle, the island offers much more. If you are looking to relocate, start a business or retire to a warmer climate, or searching for a tax-efficient jurisdiction, Malta is worth considering.
- English is considered an official language in Malta, along with Maltese.
- Malta enjoys a mild climate overall. January and February are considered the wettest months whilst the rest of the year enjoys abundant sunshine and crystal blue skies.
- Malta is considered one of the safest countries to live in, having a relatively low crime rate.
- When residing in Malta, you have peace of mind when it comes to healthcare. The island benefits from a top notch healthcare system
- The Maltese are highly regarded as friendly, welcoming and sociable people, which will help make your move transition relatively easy and quick to settle down and fit in.
- It is never a dull moment in Malta! There is always something going on for the cultural lover. There are plenty of events and activities happening all year round, being theatre, jazz, opera, rock festivals, dance shows, art exhibitions and much more.
- The various Malta Residence Programmes give the opportunity to a number of individuals and families to relocate to Malta or to hold residency status in Malta for various reasons.
- Malta benefits from a strong and booming economy, which is a prerequisite for those considering relocating. According to the European Commission’s Winter 2019 Economic Forecast, Malta’s economy projected to grow the fastest in the EU regime, with growth projected at 5.2% for 2019 and 6.4% in 2020.
- Steady GDP growth and record-low unemployment have helped Malta emerge as one of Europe’s best performers in recent years. Several international renowned industries have established in Malta. Financial services, science and technology, health, tourism, education, maritime services, aviation and I Gaming are perhaps the most dominant sectors and today form the basis of the economy.
The property market has definitely proved to be a ‘pull’ factor for UK nationals considering Malta as their new home. Property in Malta is a solid investment. Back in 2009, it was hardly affected by the global financial crisis, thanks to consistent capital growth. For the past decade, property prices have always remained stable or registered an increase year-on-year.
For those keen to make the island their base, there are plenty of options to choose from. The choice ranges from the more modest apartment and quaint little centuries-old townhouse to world-class luxury apartments with open views of the Mediterranean Sea, sprawling villas with ample grounds, and renovated houses of character with charming historic features.
Beyond that, Malta has also proved its worth as a place ideal for rental investment. Thanks to the constant stream of people moving to the island to live or work, there has never been a better time to buy-to-rent. Once again, there are numerous options open to you, including central two- and three-bedroom flats catering to the needs of young professionals and families, and luxury seafront apartments tailored to the wants of the wealthy expat crowd.
Whichever option entices you – whether you wish to join the many UK nationals who have made Malta and Gozo their permanent home or simply investing in a buy-to-let property – you can be assured of a steady property market.
Douglas Salt, Director of Frank Salt Real Estate, one of the island’s leading real estate companies, says “Malta and Gozo have over the years attracted thousands of UK nationals who made the islands their permanent home. This is an opportunity for those who are thinking of taking up residence and still want to benefit from EU residency rights before the end of this year, which sees the transition period, following Brexit, come to an end.”
“Frank Salt Real Estate is geared up to provide UK nationals with the best tailor-made solution in order to relocate to Malta. Moreover, whatever your property requirements may be, we are here to help you and guide you all the way. Backed by 50 years of experience in the field, a reputation for sterling service and integrity, we can definitely be of help”, concluded Douglas Salt.