Why Living in Malta is a Sensible Option
Living in Malta is a dream of many. Located 80km off the southern coast of Sicily, in the middle of the Mediterranean Sea, this country has three islands around. It follows a typical Mediterranean climate with light rainfall between Februarys to October. English and Maltese are official languages of Malta while Italian is also widely understood.
- Major Benefits
Malta has lots of benefits to offer, such as an ideal location in the middle of Mediterranean, incredible banking center along with many global banks, easy access by air and sea, high standards of living, and an English-speaking environment. Moreover, the island serves as a modern financial center for new businesses both from local and international investors and entrepreneurs.
- Residency in Malta
Becoming a Maltese resident allows you to overcome the confines placed on foreign nationals. It also offers average earners an opportunity to deduct their tax bill. The Maltese government charges no capital gains tax on property sales after 3-year ownership. However, as a resident, you can benefit from the Maltese residence scheme wherein you will pay a flat tax rate of 15 percent, conditional on the minimum tax liability of 4200 euro.
- The Law in Malta
The Maltese law comes with a former British dependency but it is Napoleonic codified and has no tradition of British common law. The two main branches i.e. criminal law and civil law follow different traditions. Most of the civil law cases are taken care of with older Roman law concepts especially those regarding property or contracts. In the criminal law field, on the other hand, Malta heavily borrows the British system and practices all trials by juries.
The good news is that you can also enjoy the peaceful environment and tax benefits by becoming a Maltese residence. Malta Residence and Visa Programme (MRVP) allow you to invest in Malta and get the freedom of mobility within the Schengen zone. It also ideally works for those non-EU investors who look for new business ventures in the European Union markets.