The Maltese Islands have become one of Europe's best places for affluent foreigners to relocate to.
The main island, metropolitan Malta, has in particular become the go-to destination. The country has introduced legislation to help attract wealthy individuals and Malta has various investment programs to gain citizenship easily. For the wealthy, there is no tax on income over €5 million and Malta continues to introduce new incentives to help attract highly talented and wealthy people from all around the world to invest in real-estate on the island.
But why has Malta become so popular?
Malta is a hidden gem in the center of the Mediterranean. Beautiful beaches, sunny weather, thriving nightlife, an abundance of restaurants, and 7000 years of intriguing history. Beyond the tax incentives, it's clear why the richest flock to Malta.
Stunning scenery isn't all that boosts Malta's appeal. The country has been a business and financial services hub in the Mediterranean for decades. The continuous development of Malta's International Finance Center attracts expats from all over the world. Malta has even thrived during severe economic downturns that hit the world's strongest economies. It's becoming an all-around best expat destination that ranks well as a place for financial gains and a lifestyle change. Great weather, stunning views, and a place to do business effectively. What’s not to like!?
A Simple Choice
Attractive villages like Wardija, Tarxien, and Qrendi have become targets for those who want to live in a peaceful place and prefer their home to be worlds apart from any other real estate. Farmhouses or huge villas with gardens and pools come with uninterrupted village views. Pair this with a low cost of living and living a life of luxury with many amenities is easily achievable. Moreover, Malta and Gozo are two of the safest places to live in on the island, crime isn't an issue here. With a rich history and enduring traditions, the island enjoys a lively atmosphere.
Living the Lifestyle
Despite the island's size, there are several fun things like scuba diving, jet skiing, hiking, and exploring Malta's engrossing history. Moreover, Malta's climate was voted the best around the globe according to a recent survey by International Living magazine. All this makes Malta a great place to live with many outdoor and indoor activities. An attractive proposition for the wealthy and why the rich move to Malta without hesitation.
Attracting the Best
Malta has also become an attraction for young and career-oriented expats over recent years. They work in many sectors such as financial services, aviation and gaming. Malta recently introduced a scheme that offers professionals in these sectors a flat tax rate of 15% with an annual income of at least €75,000. The country is an ideal location for world-traveling professionals working in Europe, Asia or Africa. The island's economy is growing and many move to take advantage of job opportunities present in Malta. This also contributes to an eclectic culture that’s fun to enjoy while also giving a sense of international flare to the island.