Relocating to Malta
Malta, a gem in the Mediterranean, offers a unique blend of historical charm, modern amenities, and an enviable lifestyle. Whether you’re considering registering a business, retiring, or acquiring EU citizenship, Malta has much to offer. Here’s a comprehensive guide to help you make the transition smoothly.
Why Choose Malta?
1. English Language Malta is one of the few countries in Europe where English is an official language. This makes communication easy and eliminates language barriers, making it a preferred destination for English-speaking expats.
2. Climate Malta boasts a warm Mediterranean climate, with over 300 days of sunshine a year. The mild winters and hot summers make it an ideal location for those who love the sun and the sea.
3. Clean Sea The pristine waters surrounding Malta are perfect for swimming, diving, and sailing. The Blue Flag beaches are renowned for their cleanliness and beauty, offering a haven for water enthusiasts.
4. Friendly Population The Maltese people are known for their hospitality and friendliness towards foreigners. This welcoming attitude makes it easier for newcomers to integrate into the local community.
5. Favourable Tax Regime Malta offers an attractive tax regime for individuals and businesses. With numerous incentives for foreign investors and low tax rates, it’s a favourable environment for financial growth and stability.
6. Lifestyle The island lifestyle in Malta is relaxed yet vibrant. From historical sites and cultural events to modern shopping centres and fine dining, Malta provides a balanced mix of leisure and luxury.
7. Connectivity Malta is well-connected by air and sea, making travel to and from the island convenient. The international airport offers direct flights to major cities across Europe and beyond.
Renting a Luxury Property
Before making a permanent move, many choose to rent a property to experience the island lifestyle firsthand. Here are some tips:
1. Prime Locations Consider renting in prime locations such as Sliema, St. Julian’s and Valletta. These areas offer a range of luxury properties with amazing sea views, modern amenities and proximity to key attractions.
2. Understand the Market Work with reputable real estate agencies specializing in luxury rentals. Christie’s Real Estate Malta, an exclusive affiliate of Christie’s International Real Estate, can provide insights into market trends and help you find a property that suits your lifestyle and needs.
3. Lease Terms Review the lease terms carefully. Most rental agreements in Malta are for a minimum of one year. Ensure you understand the terms related to deposits, maintenance, and utilities. If you choose Christie’s Real Estate Malta as your service provider, we will ensure that the rental agreement is written according to current legal norms and in your favour, providing you with peace of mind.
Transitioning to Property Ownership
Once you’ve settled into the island lifestyle, you may consider purchasing a property. Here are some guidelines:
1. Legal Advice Engage a local lawyer who specializes in real estate. They can guide you through the legal requirements and ensure a smooth transaction. We have a list of local corporate service providers, law firms, notaries, and architects who can help make your transition seamless and straightforward.
2. Property Search Work with trusted real estate agencies that have a portfolio of luxury properties and specialise in the luxury market. Christie’s Real Estate Malta has earned its reputation through vast experience and positive feedback from clients. We can help you find a home that matches your preferences, whether it’s a seafront apartment, a villa with a pool, or a historic townhouse.
3. Investment Benefits Owning property in Malta can be a sound investment. The real estate market has shown steady growth, and owning a property can also facilitate your application for residency or citizenship.
Registering a Business
Malta is an excellent place to establish a business, thanks to its strategic location, skilled workforce and favourable tax policies.
1. Company Formation Consult with legal and financial advisors to understand the process of company formation in Malta. They can assist with registration, compliance and tax planning.
2. Networking Join local business networks and chambers of commerce. These platforms provide valuable opportunities for networking and business growth.
We can be your trusted advisor as we provide a full range of concierge services and can provide introductions to the highest circles of society.
Retirement in Malta
For those looking to retire, Malta offers a peaceful and enriching environment.
1. Retirement Schemes Explore Malta’s retirement schemes, which offer tax benefits and other incentives for foreign retirees.
2. Healthcare Malta has an excellent healthcare system, with both public and private options. Ensure you have adequate health insurance coverage.
3. Leisure Activities Malta provides a plethora of leisure activities, from golfing and sailing to cultural festivals and historical tours. There’s always something to keep you engaged and entertained.
Acquiring EU Citizenship
Malta offers several pathways to EU citizenship, which can provide numerous benefits, including the freedom to travel, work, and live anywhere in the EU.
1. Investment Programmes Consider Malta’s Individual Investor Programme (IIP) or other investment schemes designed for high-net-worth individuals. These programmes require significant investment but offer a streamlined path to citizenship.
2. Residency Start with acquiring residency, which can lead to citizenship. Residency schemes in Malta are designed to attract foreign investors and provide various benefits, including tax advantages.
Malta’s blend of modernity, tradition, and luxury makes it an ideal destination for affluent individuals looking to relocate. Whether you’re planning to start a business, retire, or simply enjoy a new lifestyle, Malta has something to offer. With its friendly population, favourable tax regime, and beautiful environment, your transition to Malta will be a rewarding experience.
If you need assistance finding the perfect rental property or making the move permanent, our portfolio of luxury properties in prime Maltese locations is at your disposal. Let us help you make Malta your new home.
Detailed information about the different types of stay permits in Malta can be found below.
Relocation services
A ‘TCN’ Third Country National (non-EU/EEA/Swiss) is permitted to stay in Malta for a maximum of 90 days within a 180-day period unless they are in possession of a valid Maltese/EU residence card or long-stay visa. There are two types of visas which can be obtained to enter Malta: -The National Visa – a visa which is issued for a period of more than 90 days but not more than 365 days. -The Schengen Visa – a visa which is issued for a period not exceeding 90 days
UK NATIONALS IN MALTA – BREXIT: As from 1st January 2021, UK nationals are considered TCN. UK nationals who wish to relocate to Malta for employment or otherwise must obtain the relevant permit and will be subject to the 90-day rule
Highly Qualified Persons Rules (HQP)
The Highly Qualified Persons Rules (HQP) is a programme that allows employees engaged by licensed/recognised operators in the financial services, remote gaming and aviation sectors to benefit from a flat rate of 15% tax on employment income derived in respect of work or duties carried out in Malta (or in respect of any period spent outside Malta in connection with such work or duties).
The applicant must directly or indirectly acquire real estate rights over immovable property situated in Malta or must hold a beneficial interest directly or indirectly consisting in inter alia of real rights over immovable property situated in Malta.
Individual Investors Programme (IIP)
The Individual Investors Programme (IIP) was launched by the Maltese government in 2014 with the intent and aim to attract quality investors to Malta, create new opportunities and thus a positive economic contribution to the country. All beneficiaries under the programme are granted Maltese citizenship and issued with a Maltese passport.
A holder of a Maltese passport is not only entitled to study, work and reside anywhere within the European Union, but the passport also provides visa free travel to over 165 countries. Among the list of eligibility criteria is the acquisition or leasing of a Qualifying Immovable Property in Malta.
Malta Residence & Visa Programme (MRVP)
Beneficiaries under the Malta Residence and Visa Programme (MRVP) will be issued with a Maltese residence card valid for an initial period of five years and renewable every five years thereafter. A residence card will be issued – one which will entitle the holder to reside, settle and stay in Malta indefinitely, as well as to travel within the Schengen area without the need for applying for additional visas.
In this case, applicants must be third-country nationals (TCN) and not citizens of Malta, the EU, EEA or Switzerland. Among the list of eligibility criteria is the acquisition or leasing of a Qualifying Immovable Property in Malta.
Global Residence Programme (GRP)
Those qualified to benefit from the Global Residence Programme (GRP) will be issued with a residence permit entitling them to reside in Malta and travel freely within the Schengen area without the need of applying for additional visas. They will also benefit from a reduced fixed tax rate of 15% on all foreign-sourced income that is remitted to Malta. One must of course take the eligibility criteria into consideration. An individual shall therefore be entitled to apply for special tax status under the programme. Property conditions must also be adhered to as follows:
Qualifying Property
The main applicant purchase an immovable property in Malta for a minimum value of € 275,000 (or in Gozo or the south of Malta for a value of not less than €220,000); or
Property Leasing
Lease an immovable property in Malta for not less than € 9,600 per annum, (or in Gozo or the south of Malta for an annual rent of not less than € 8750). The qualifying property must be retained and not shared with any persons not listed as a dependent on the certificate.
