The rising popularity of sunny Malta among the most discerning of real estate enthusiasts and relocating families/businesses can be attributed to a number of factors. It has always been a great destination because of its sunny climate, rich history, the wealth of entertainment options, spectacular landscapes and the general warmth of the locals. Below, we have written a list of the key factors that make Malta such an attractive option…
Purchasing a home in Malta is quite straightforward. On finding the right property and agreeing on the price, the vendor and purchaser sign a preliminary agreement (Konvenju) binding such vendor to sell and the purchaser to acquire the property on terms and conditions agreed upon subject to good title and the issue of relevant permits. Some places like Sliema and St.Julians, although attracting higher prices offer superb rental returns, given that they are tourist meccas all the year round. The majority of foreign buyers are still attracted to our charming and traditional Houses of Characters lining the narrow winding streets of our villages and splendid seafront apartments.
Malta is not just about beaches and tanning, eating good Mediterranean food or sailing and enjoying the crystal clear waters. Malta is a country with a rich history once inhabited by the Phoenicians, Greeks, Romans, Knights of St.John, French and British with hundreds of traditions and so many cultural sights. Meeting the warm and proud people of Malta can give you a clue on the meaningful history and civilisation. The Island’s obvious attractions are its centuries-old architecture including the UNESCO protected intriguing Megalithic temples which are said to be the some of the oldest free-standing structures on Earth.
The educational system is first rate with a good selection of private, international and public schools and the Island also boasts the oldest University in the Commonwealth outside Britain enjoying a long-established reputation for excellence. The Island could also be said to offer a multilingual service as most Islanders speak English and Italian fluently besides the native Maltese language.
Malta also has an outstanding healthcare system. You can find both public and private hospitals on the Island. The recently inaugurated “Mater Dei” general Hospital is fast gaining a reputation as a premier health provider and centre of excellence in the provision of effective, efficient and quality care with distinguished physicians, a highly skilled nursing staff, a dedicated workforce and state of the art technology and facilities.
Now if that were not enough Malta also has fantastic financial incentives. The permanent residence scheme means that foreigners obtaining the relevant certification benefit from a flat rate of 15% tax only on income received in or remitted to Malta from either local or foreign sources subject to minimum annual tax liability. There is also a tax-friendly procedure for moving your possessions to Malta besides no property or land taxes, no death duties payable and no council taxes. Malta also benefits from favourable double taxation agreements with key countries. When it comes to business benefits, the Maltese fiscal regime has been one of the main drivers in creating an attractive environment for foreign investors. Since joining the EU in 2004, Malta has become an attractive tax jurisdiction for tax planning and corporate structures with a full imputation system of taxation enforced.