Why Malta has Become an Investment Hub for Foreigners
Malta is a European Island found in the Mediterranean Sea. Since its independence, the country has grown to become a politically and economically stable country. Additionally, many foreigners are streaming into the small nation to invest.
The country’s policies have become comfortable for foreign investors to adapt to. Many of them are relocating to Malta to become citizens by naturalization. In fact, programs such as Malta citizenship by investment program (IIP) are available for interested investors who want to relocate with ease.
Reasons why foreign investors are flocking into the country
1. Political Stability
Initially, the country was under the British rule for a very long time. However, after its independence in 1964, the country has grown. The country is a member of the European Union (EU). The government consists of a Prime Minister, who is elected after every five years and heads the government. They also have a multiparty parliamentary system. The government has given opportunities for these foreign investors to come in this free market economy.
2. Low Tax Rates
Malta has the lowest tax rates in the EU. Therefore, more foreigners are now feeling safer to invest in the country. Besides, they get 100% refund when they satisfy the Participation Holding exemption criteria. Additionally, there are no capital taxes and withholding of taxes on interests, dividends, royalties, and liquidations.
3. Stability of the economy
In the year 2009, the country’s GDP rose to Euro 5.7 Billion. This growth in economy was due to the country’s decision to adopt the Euro currency. Despite the economic distress in many countries, the country’s economy continues to grow through the tough recession.
Additionally, Malta experiences a very cool Mediterranean climate that most people enjoy when they visit the country. In addition, the cost of living is quite affordable to many foreign investors.
4. Language System
More than 413,000 people live in the country. The people in the country speak in the Maltese language. However, the people in the country have made English and Maltese their official language. Other languages spoken in the country include Italian, French, and German. This makes it easy for investors to communicate with the inhabitants. In addition, there is the University of Malta, an ancient University found in Malta. It is not only home for the Malta citizens but also foreigners, who also turn into investors.
5. Development of IT
The country has an excellent IT infrastructure that connects Malta and the rest of the world. Therefore, this appeals to more foreign organizations who want to work with local firms and experts.
Also, the i-Gaming sector has grown. The industry not only helps the local players and employees but foreigners who choose to settle in the country.
6. Geographical Location
Malta’s location promotes tourism and transportation along sea and air. For instance, Air Malta, which is the national carrier, carries people to other parts of Europe, Northern Africa, and Italy. Also, the airline welcomes other airlines in the efforts to promote tourism.
7. Skilled Labor
Due to the country’ education system, the country’s has a highly educated and skilled labor force. Companies do not have a problem employing people because of the low costs of living. Therefore, there is a low rate of employment in the country. Consequently, larger companies take in foreigners and train them to work there.
Investing in a country like Malta makes it easy for foreigners to move their businesses to the island. According to the information above, relocating to Malta is not a complicated process. If you are a foreign investor, then you should learn about the Malta citizenship by investment program (IIP).