Why Choose Malta as Your Next EU Destination?
There is no denying that the competition is heating up in several countries around the Mediterranean to see who can attract the most foreign investment, expats and skilled workers. We look at what some countries are doing and what makes Malta different.
BACKGROUND
Desperate Times call for Desperate Measures
Several EU countries are facing declining resident numbers in rural villages and an ageing population which is aggravated by low birth rates. As an example, this has led to some offering to sell abandoned properties for €1 or very little in an attempt to save some of these enchanting villages from turning into complete ghost towns. In many cases this is working, breathing new life into towns and providing much needed work to locals.
Malta has proved to be an exception
Malta’s had a knack of bucking the trend when compared to the rest of the EU: not only is Malta’s economy doing remarkably well overall when the rest of the world faces enormous challenges, but the local real estate market has experienced a Renaissance for many years without the need to sell homes for €1! Locally, towns and villages are populated to the brim and the shortage of places to rent has fuelled the building and construction industry like never before. Further contributing factors to Malta’s housing boom are the facts that locals historically prefer to own rather than rent, tourism, an increase in foreign workers and of course, a growing expat community that includes a large number of retirees. In keeping up with the changing times, Malta also introduced its digital nomad visa in 2021 due to the fact that this is a demographic group that brings with them undeniable new and fresh talent combined with incredible skillsets.
Let’s take a look at all the compelling reasons why Malta is the number one option for many people who are moving to the EU and why it should be YOUR next EU destination:
Malta may not always be the first place that springs to mind when global citizens are considering relocating to European destinations. However, this small yet vibrant nation offers a unique blend of opportunities and lifestyle benefits that make it one of the most attractive choices for investment, work and living.
scroll down to learn more.
Here are the reasons why you should choose Malta when looking to relocate in a EU destination
1. Strategic Location and Connectivity
Malta is a Gateway to Europe and the rest of the World
Malta’s location in the Mediterranean places it at the important crossroads of Europe, North Africa and the Middle East. This very central location makes it an ideal place for businesses that are looking to expand their reach to multiple continents. Malta has a busy international airport located at Luqa that provides direct flights to all major European cities and beyond, ensuring seamless connectivity for anyone who travels for business or leisure. Most major EU airports are no more than a 2.5hr flight away with Malta’s Luqa Airport offering daily flights to all important major destinations.
A Maritime and Trade Hub
Throughout the ages, Malta has always been highly regarded as a significant maritime hub. The country’s port is one of the busiest in the Mediterranean and a stopover for countless vessels on the world’s major trade routes. To handle and aid in all this activity, Malta’s Freeport is one of the EU’s leading transhipment ports, providing extensive logistical services for companies engaged in international trade. With countless vessels flying its flag on all of the world’s oceans, Malta also has one of the biggest ship registries in the world.
2. ROBUST ECONOMY AND BUSINESS-FRIENDLY ENVIRONMENT
Malta has a Thriving Economy
Malta has proven to have a resilient and highly diversified economy. Key sectors such as financial services, tourism, real estate, i-Gaming, manufacturing, real estate, construction, aviation and ships chandlery services drive economic growth. The country’s GDP growth consistently outpaces the EU average, reflecting its economic prowess and unique potential for investors.
Malta has an Attractive Tax Regime
Malta’s world-famous favourable tax system is a significant draw card for international investors and businesses. With very competitive corporate tax rates, various tax incentives and double taxation treaties with over 70 countries, Malta’s business-friendly tax environment makes it an extremely appealing destination for multinational corporations and start-ups alike.
Great Government Support and Incentives
The Maltese government actively supports business development through attractive schemes and incentives. These include grants, loans and other financial assistance programs designed to encourage not only investment but also innovation. Malta Enterprise, the country’s premier economic development agency, plays a pivotal role in facilitating business growth and attracting foreign direct investment. Over the years, Malta Enterprise has proven to be an invaluable asset especially for those who are new to the country and want to start a company or business.
3. HIGH QUALITY OF LIFE
Mediterranean Climate and Scenic Beauty
Due to its location, Malta enjoys a warm climate with over 300 annual days of sunshine. With picturesque landscapes, crystal-clear waters and countless historical sites, Malta offers all those who live here a stunning backdrop and also a high quality of life. Residents and visitors alike are spoilt for choice with outdoor activities such as sailing, swimming, snorkelling, scuba diving and hiking to exploring ancient ruins being available for most of the year.
Rich Cultural Heritage
Malta’s history spans many thousands of years, with influences from various civilizations leaving its mark. This has resulted in a rich cultural tapestry that is evident not only in the island’s architecture and festivals but also in its culinary traditions. Valletta is the capital city and one of several UNESCO World Heritage sites. This “living museum” boasts an array of stunning museums, palaces and churches and is famous for its Baroque architecture.
When it comes to ancient history, the islands are full of sites from the prehistoric and Neolithic times such as Mnajdra Temple, Hagar Qim Temple, Hypogeum of Hal-Saflieni, Ggantija Temples on Gozo, the Skorba Temple Complex, the Tarxien Temples, the Ta’ Hagrat Temple Complex and Ghar Dalam Cave to name a few. Many other dolmens and cart ruts can be found across the entire Malta and Gozo.
Excellent Healthcare and Education
Malta’s healthcare system is often ranked amongst the best in the world, providing excellent medical services to residents and both public and private healthcare facilities offer high standards of care. When it comes to Malta’s education system, numerous international schools and higher education institutions can be found, including the prestigious University of Malta which also has a campus on Gozo.
4. A DYNAMIC WORKFORCE AND LANGUAGE PROFICIENCY
A Skilled and Multilingual Workforce Ready for the Task
Malta’s workforce is well-respected for its high standard of education and skills. The country’s educational institutions produce qualified graduates with expertise in various fields such as IT, finance, law, medical and engineering. Furthermore, Malta’s multilingual population is a significant asset for anyone wanting to open a business on the islands. English is one of the two official languages and is widely spoken alongside Maltese. Many Maltese citizens are also proficient in Italian.
A Welcoming Expat Community
Malta is home to a large, diverse expatriate community, creating a welcoming environment for all newcomers. Various groups and networks provide ideal support and numerous social opportunities, making it far easier for new residents to integrate and feel at home.
5. SAFETY AND POLITICAL STABILITY
Low Crime Rate
Malta is known for its low crime rate and is regarded as one of the safest countries in Europe. Safety is a crucial consideration especially for families and individuals seeking a secure living environment.
Stable Political Climate
Malta enjoys a longstanding stable political climate, with a democratic system that ensures transparency and good governance. The country’s has been a full member of the European Union since 2004 and this further enhances its political and economic stability. Both citizens and residents enjoy visa-free travel to the entire Schengen zone.
6. Real Estate
Malta has enough real estate options to satisfy anyone’s criteria. Choose from villas, palaces, apartments, bungalows, penthouses, terraced houses, maisonettes, farmhouses, houses of character and more in all price brackets and locations. Start by looking for real estate here. Whether you want to buy or rent, live in the country or on the coast, want a historic home or an ultra-modern home, Malta has it all.
Malta real estate has a very good capital appreciation and rental yields are between 4-6% per annum. What’s more is that properties located in Special Designated Areas can be bought by non-residents without the need for any permits and the property can be rented out immediately without restrictions. Have a look at our guide books section!
Malta’s economic success and unprecedented growth the last few decades stands as a testament of its pro-active governance, stability and positive economic outlook and looking at the rest of 2024, it is predicted that Malta will experience the best economic growth in the EU. Add to that all the other attractive factors on offer and one can see why the country is such a compelling proposition for those seeking a new EU destination. Whether you’re considering investment opportunities, relocating for work, or looking for a vibrant place to live, Malta provides an exceptional blend of benefits that cater to diverse needs and preferences. If you decide Malta is for you, contact us at Frank Salt Real Estate as we are your perfect partner to residential and commercial real estate sales and rentals, relocation, property management, home interiors and even residency! As Malta’s oldest and biggest real estate group, we can’t wait to show you around.
GET IN TOUCH.
Frank Salt Real Estate was established in 1969 and has become Malta’s oldest, biggest family-owned and managed real estate company. With branches in both Malta and Gozo, the company specialises in the sale and letting of residential and commercial properties but also offers property management and home interiors services.
With 20 branches and just under 200 professional real estate agents, the company offers the widest selection of properties for sale and to let in Malta and Gozo. Long and short-term letting options cater to the tourism, foreign and local markets. Malta’s leading real estate company also offers dedicated services for Property Management and Home Interiors Consultancy.
