Some of our clients feel limited by their current way of living. One way to enhance your life entirely is by relocating or expatriating, which can open up exciting personal changes and even more exciting economic opportunities. Malta is one destination that inventors from all over the world are attracted to for economic progress and stability. Further, located between Sicily and North Africa, Malta is geographically ideal. In this article, we will explore why and how individuals take their lives to this Mediterranean hotspot. For more detailed guidance, contact the experts at Alpen Partners.
Expatriating or relocating has been a strategy for wealthy investors for years. Moving your family and wealth abroad can open up many opportunities that you may be missing out on in your home country. One advantage to relocating is moving as a strategy for many to save on taxes. Many investors have relieved their tax burden by finding a jurisdiction with more favorable tax laws and prefer a life without the hassle of being taxed on money that they may not even be making in their home country. Further, investors have the opportunity to tap into new and developing sectors and developed areas of investment, allowing and encouraging you to diversify your portfolio.
Not only are there financial advantages, relocating allows you to rethink your way of life completely. Maybe you want to live in a relaxed coastal area that is sunny throughout the year. Others are looking for a thriving city with abundant nightlife. No matter your preferences, you can handpick a destination that can meet your and your family’s needs. Cultural experiences and seeking ex-pat communities are great ways to spend retirement and even your working years. When finding the destination right for you, there’s no rule book that can be used for everyone, but with the help of a professional, a strategy can be made just for you.
Are you ready to find a new home? Have you considered Malta? Continue reading to find out why people from all over the world are calling Malta home.
Why Relocate to Malta?
Before you decide to pack your bags and catch the next flight to Malta, let’s look at why wealthy investors see Malta as the best place for them. The country is a beautiful island and is not only the smallest country in the European Union, but it is also the sunniest. Malta is often viewed as a door to European, African, and Middle Eastern markets, and the local government offers investment and tax incentives to attract investors. English is spoken by most of the Maltese population, and the culture is quite easy-going. Malta is especially attractive to Northern European retirees and ex-pats. Let’s take a close look at some of these reasons.
- Rich Culture- Malta is home to nine UNESCO World Heritage Sites and boasts a rich history with a beautiful culture to immerse oneself in. The Maltese community is passionate about food with flavor inspiration from Europe and Northern Africa.
- Tax Incentives- For years, the Maltese government has promoted foreign investment. They have been doing this through tax incentives. The “full imputation tax system” for Maltese companies’ shareholders is one of the biggest attractors. This means dividends distributed to shareholders are not subject to personal tax, which prevents double taxation on the dividends. This is an incentive that is currently only available in Australia, New Zealand, and Malta.
- Low Cost of Living- Investors enjoy moving offshore because they can make their money go much further in some countries. Compared to similar European destinations, Malta has a lower average cost of living. Additionally, the World Health Organization recognizes Malta’s free healthcare system as one of the best in the world. There are also private hospitals and clinics and cheaper dental care than other European destinations.
- Real Estate Opportunity- Real estate is attractive in Malta since prices are relatively low. This means it can be easy to find a home for you and your family. If bought in the right location, a real estate investment can mean immediate cash flow due to renting and tourism.
- Easy Travel- On top of being one of the best destinations to reside in, Malta is also an excellent destination for travelers. A lot of European travel locations are just a few hours away via plane. In terms of traveling within the country, Malta has reliable public transportation that is cheap and efficient. You are never far from anywhere on the island.
How to Relocate to Malta
Since expatriating to Malta has been a popular European investment decision for years, many utilized the citizenship by investment option. The citizenship by investment program reached its capacity of 1800 applications, so a new program was introduced in late 2020. The new program is known as the Malta citizenship by naturalization for exceptional services (MEIN). This allows foreign individuals and their families to earn a Certificate of Naturalization by making significant contributions to the country’s economic development.
More information on Malta’s Citizenship by Investment program.
If citizenship is not an option for you, there are fewer permanent ways to get long-term residence visas simply through applying. It is much easier for citizens of the EU, EEA, and Switzerland as they only have to prove they have the means to support themselves financially while living there. Individuals who are not from those jurisdictions can apply for long-term residence after living in the country for five consecutive years through other short-term options.
Relocate to Malta with Alpen Partners
Are you interested in the relocation services offered by Alpen Partners? We are ready to help every step of the way. Our experts can guide you through moving to the location of your dreams. If you don’t know where you want to move, we will examine your goals and help you find the best place for you. We have partnerships with world-class residency and relocation lawyers and will examine your current financial and personal situation and help you determine which destination is right for you. Beyond relocation, our team is prepared to guide you through all the personal and financial planning you need. If you feel trapped by your local investment options and want to spread your wings a bit, consider relocating to Malta with Alpen Partners.