Malta: the economic attractions of one of the smallest countries in the world
The prestigious National Geographic magazine recently highlighted, in an online publication, the charms of the ten smallest countries in the worldAmong them, of course, is the Republic of Malta, which, with its 316 square kilometers, is no larger than the city of Madrid. But the attractions of this country go far beyond tourism.
“Despite not having any rivers, its strategic position in the heart of the Mediterranean has always been a magnet for different civilizations and cultures that found here a place of provisioning and, ultimately, of expansion,” notes National Geographic.
A history that is undoubtedly reflected in the country's architecture, and which is one of its main tourist attractions. "Malta's strength isn't its beaches. It's its culture, its fishing villages, its blue grottoes, and its landscapes," the website points out. Travel Magnets.
But tourism is not the only striking thing about this island country. A study conducted by EY Among foreign investors, it is noted that, although pre-pandemic levels have not yet been recovered, 59% of those surveyed believe that Malta is an attractive place for investment.
Corporate taxes are ranked as Malta's strongest Foreign Direct Investment parameter (73%), followed by its telecommunications infrastructure (62%) and the stability of the social environment (61%).
Despite its small size, 41% of those surveyed believe that Malta is as attractive as other European countries in terms of technological factors that influence investment.
Other aspects that stand out, according to the survey, are labor costs (37%) and the flexibility of labor legislation (44%).
It is worth noting that the EY study underlines the importance of sustainability for both the private and public sectors, and the interest in continuing to make progress on this issue.
Investing in Malta: What are my options?
This country has both residency and citizenship by investment programs.
For residency, there is the Malta Global Residency Programme, which offers a special tax regime for individuals from outside the European Union, Iceland, Liechtenstein, Norway, and Switzerland. To apply, a real estate investment ranging from €220.000 to €275.000 is required. Alternatively, a residence can be rented out for a minimum of €8,750 per year. This property cannot be sublet. Furthermore, a minimum annual tax of 15% must be paid on foreign income received in Malta.
For citizenship by investment, there is the Malta Exceptional Investor Naturalization (MEIN) program, whose main characteristic lies in the speed with which citizenship is granted, compared to similar programs in other European countries.
Within a period of 12 months, the MEIN facilitates the acquisition of the Maltese passport through a contribution of 750.000 euros to the National Development and Social Fund (NDSF), Malta's sovereign wealth fund.
There is also the option of contributing €600.000, which extends the residency period required to obtain a passport to 36 months. During this process, it is mandatory to have a residence in Malta. This can be purchased (starting at €700.000) or rented, for a minimum annual fee of €16.000.
The MEIN program allows the inclusion of the spouse and children under 21 years of age, if they are dependent on the applicant.
In short: Malta is much more than just a tourist attraction. If you are interested in applying for their investment visa program, Schedule a meeting with usAIM Global has offices in Chile and Portugal, and its specialized professionals will help you find the best option to complete your projects.
