• Who typically relocates to Malta?

Many expats, including workers, retirees, and business people, relocate to Malta each year. The country’s popularity is due to its idyllic destination with excellent weather, a dynamic business hub, and an easy-going lifestyle. Whether you’re considering Malta after falling in love with it on holiday or exploring options, Frank Salt Real Estate can be your gateway to settling in the country. They can provide answers to your questions, offer homes and commercial premises for sale or rent, and assist with understanding the government’s residency programs.

 

• How far is Malta from the rest of Europe, and what is the climate like?

Malta is a premier travel hub to Europe, North Africa, and the Middle East. It has a warm, sunny climate with some of the best average temperatures in the EU. All major EU destinations are just a two-hour flight away, and direct flights are available to cities like Paris, London, Frankfurt, Madrid, and Lisbon, taking around two and a half hours on average.

 

• Is there a language barrier in Malta?

No, more than 80% of the population speaks English in addition to Maltese. English is widely used in business, making it easy for English speakers to feel at home in Malta.

 

• What is the quality of healthcare in Malta?

Malta’s healthcare system is highly regarded, ranking 5th globally according to the World Health Organization. State healthcare is free for those who work and contribute to social security. Many people also opt for private health insurance, which is affordable in Malta.

 

• How is the education system in Malta?

Malta’s primary education is of high quality and follows the UK model. Public schools are free for resident children, but there are also church and private schools available. Additionally, Malta hosts over 40 English language teaching schools, attracting youngsters from around the world to master the language.

 

• What job opportunities are available in Malta?

Malta offers various job opportunities, and its workforce is highly educated and English-speaking. It is known for sectors such as IT, i-Gaming, banking, financial services, pharmaceuticals, shipping, automotive, aviation, and more. Additionally, Malta recently introduced the Digital Nomad Visa, attracting remote workers from across the globe.

 

• How is doing business in Malta?

Malta provides numerous opportunities for international companies to set up businesses on its shores. It offers borderless access to the rest of the EU, open trade, and a unified currency (Euro). Companies established in Malta enjoy easy trade with other EU countries due to the stringent measures they undergo to comply with EU regulations.

 

• What is the tax system like in Malta?

Malta’s tax system is designed to attract global investment and innovators. Corporate tax is generally 35%, but numerous refund schemes can significantly reduce the effective tax rate to as low as 5%. Malta also has over 70 double taxation treaties with other countries, preventing double taxation on the same income.

 

• How is the banking system in Malta?

Malta has one of the world’s best-rated banking systems with strict anti-money laundering measures. This makes Maltese banks highly reputable and trustworthy for international trade and business.

 

• What are the steps involved in buying a property in Malta?

Buying real estate in Malta is a straightforward and safe process. It involves signing a Promise of Sale, conducting due diligence checks, applying for permits (if necessary), and signing the Contract of Sale or Deed of Sale. Costs include stamp duty, notarial fees, search and registration fees, and an AIP Permit (if required).

 

• Is it advisable to rent a home first?

Yes, many people prefer to rent first to explore the area and lifestyle before committing to a purchase. Renting allows for flexibility and finding the perfect fit. Frank Salt Real Estate’s Rentals Division can assist in finding the right rental property.

 

• Tell me about the i-Gaming Industry in Malta.

Malta is a top destination for i-Gaming companies in Europe, with over 250 companies operating on the islands. The sector’s value is projected to rise significantly in the coming years.

 

• What are the benefits for international companies operating from Malta?

Operating from Malta offers numerous advantages, including a comprehensive regulatory framework, watertight jurisdiction for the EU, incentives like beneficial tax rates and low license fees, access to the EU market, a highly skilled workforce, and a reputation as a market leader in hosting i-Gaming companies.

 

Living in Malta offers expats a blend of warm weather, a vibrant business environment, excellent healthcare, and a thriving expat community. The country’s English-speaking population and business-friendly atmosphere make it an attractive destination for people from various backgrounds and professions. Whether you are considering moving to Malta for work, retirement, or investment purposes, the country has much to offer and can be an excellent place to call home.

For more information contact MaltaLifestyle.com on WhatsApp (+27) 82 574 4661 or email malta@maltaifestyle.com.

 

Rugby fans will know that putting money on Japan as the winner of this year’s Rugby World Cup is a long shot, at best, but some will still put their money on Japan. Predicting the Rand’s performance against other currencies is just that…a long shot. Some get it right, many do not.

According to Merle Whale, founder of MaltaLifestyle.com, a South African living in Malta for more than 10 years, one of the reasons Malta is an attractive investment for South Africans is its stable economy. Property and investment opportunities are well-priced and attractive for investors to make the move to Malta.

It has been said that when the USA sneezes, the rest of the world catches a cold. This is especially true for the South African economy, which typically follows the interest rate cycles of the American banks. Economists forecast further interest rate hikes in 2023 largely based on a number of factors in South Africa:

• The economy and credit ratings. South Africa’s stagnant economic growth offers a negative outlook, which is a key factor for ratings agencies.
• The cost to the economy is beginning to bite, particularly for small businesses and households, who are being stretched to the limit.
• Never a good sign for any economy.
• Interest rate hikes. Pressure on global interest rates have a significant impact on the trajectory of interest rates in South Africa.
• Exchange rate. The weaker the rand the greater the pressure on interest rates and South African investment opportunities abroad. Offshore investments become expensive.

With the Rand exchange rate currently making global travel unaffordable for many, this year’s Rugby World Cup may just be out of reach for local fans. The cost of a ticket to the Rugby World Cup Final can reach up to EURO 900 for top seats. Costs for lower priced seats are around EURO 200, which when converting to ZAR will cost you more than double(+-R4000) the cost of the seat in the 2007 tournament, when the Springboks claimed their second World Cup title.

Ms Whale says that with Malta still offering favourable investment and travel opportunities, being a 4 to 5 hour flight to France is an attractive option for South Africans living in Malta.

With the Rugby World Cup a matter of a few short months away, turning your eyes to Malta as an investment option may just be the right decision to take capital offshore. The Rand exchange rate should not be a deterrent for long-term investment, the Rand exchange rate is far too volatile for that, not to mention the unstable climate facing South Africans currently.

Consider your offshore investments wisely.

Ms Whale will be embarking on a roadshow in South Africa in May to host sessions on the benefits of an investment in Malta as part of property and investment portfolios for South Africans.

Information sessions are set for Gauteng, Free State, KZN and Northern and Western Cape from 3 to 24 May. Presentations are scheduled from 2pm for 1 hour each. The format is a 45-minute presentation followed by Q&A discussion. Private pre-booked one-to-one sessions are to be reserved.

Booking is essential. Sessions are free on verification and are on a first-come first-served basis. Right of admission reserved.

Contact Merle Whale on WhatsApp +27.825744661 or email events@maltalifestyle.co.za. Visit www.maltalifestyle.co.za for more information.

Fitch Ratings has affirmed Malta’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘A+’ with a Stable Outlook. The rating is supported by high per-capita income and a pre-pandemic record of strong growth and sizeable debt reduction. However, the small size of Malta’s economy, which is highly vulnerable to external developments, and a recent deterioration in public finances with large fiscal deficits, have led to a sharp increase in the moderate public debt burden.

The Maltese economy expanded rapidly at 6.9% in real terms in 2022, outperforming the rest of the EU. Growth came mainly from investments, which were heavily impacted by the acquisition of imported aircraft equipment. Private consumption remained sound, supported by the accumulation of past savings and favourable labour market conditions. Key sectors driving growth were online gaming, information and technology (ICT), and professional services, while construction contracted quite sharply. Recovery in the tourism sector continued narrowing the gap of tourist arrivals relative to 2019 to around 17% in 2022.

Fitch forecasts growth to slow to 3.5% in 2023, due to the projected economic slowdown in Malta’s main trading partners and as evidenced by a moderation in economic indicators. Growth will be close to potential in 2024, reaching 3.7%. The lifting of international travel restrictions has helped support the return of foreign workers, further uplifting domestic consumption and potential growth while somewhat easing structural labour supply shortages.

Overall, Fitch estimates that Malta’s fiscal deficit narrowed to 5.8% of GDP in 2022 from 7.5% in 2021. While sizeable energy and food subsidies weighed on the budget balance, these were offset by the government’s ad-hoc spending review during the summer and the continued phasing out of Covid-19 expenditure. The 2023 deficit is projected to reach 5.4% of GDP, close to the government’s budget target of 5.5% but exceeding the ‘A’ median of 4.1%. The European Commission has yet to approve the bailout package for state-owned airline Air Malta, and the timing and total cost of any state aid to the airline remains unknown, although some restructuring costs are already priced into the budget at close to 0.4% of GDP for 2022/23.

Click here for a more detailed overview: https://bit.ly/3Kueo0M

Source: www.fitchratings.com