How Can I Benefit from Moving to Malta?

Moving to Malta can be a big decision, but one that could bring you huge rewards in an increasingly hostile tax and political climate. With a low-tax regime and an idyllic living situation, more and more people are considering the small island nation of Malta as a perfect relocation destination. Here we look at how you can benefit from moving to Malta in 2021.

Tax Benefits

Malta offers some excellent tax advantages for those who relocate or operate a business there. As a member of the European Union (EU), individuals will pay tax on funds brought into Malta at a flat rate of 15%. Businesses, however, can benefit from Malta’s highly attractive corporate tax regime. Companies which have a “permanent establishment” in the State will pay a corporate tax of only 5%, while those that don’t have a permanent establishment will be exempt from taxation.

For those who are freelancers, Malta also offers its “statutory residence” allowances, which allow individuals to take advantages of their tax residence status and pay lower taxes on their incomes. Those taking advantage of the “statutory residence” are taxed at 15% on their income but are eligible to offset a minimum expense allowance of 5% on their earnings. This means that they will never pay more than 10% tax on their income.

Living Conditions

In addition to the obvious economic benefits of living in Malta, the living conditions on the island are also second to none. With a Mediterranean climate, lush countryside and beautiful coastline, Malta is a great place to relax and enjoy life. Many expats have found that the quality of life in Malta is far superior to their home nations.

The locals in Malta tend to be very welcoming and tolerant, the island nation being one of the most progressive in the EU. Malta is renowned for its tolerance towards those from different backgrounds and religions and it was recently named as one of the safest countries in Europe by the World Economic Forum. The crime rate in Malta is also very low and there is very little chance of becoming a victim of street crime or violent crime in the country.

Education Opportunities

Malta is ideal for those looking to move with their families too, with excellent schooling options available on the island. Schooling is compulsory until the age of 16 and the Maltese public school system has been praised for its high standards, with many rating it as amongst the best in Europe.

What’s more, Malta also has universities which provide quality education and training, such as the University of Malta (UM). UM is known for its academic success in Europe and offers courses across all majors, giving prospective students plenty of options to consider.

Final Word on Moving to Malta

Overall, the advantages of relocating to Malta seem obvious – from its attractive tax regime to its idyllic Mediterranean climate – making it an attractive destination for anyone considering making a move in 2021. With good education options, low crime rates, and an open-minded population, those looking for a new home could do much worse than Malta.

An Insider’s Guide: Exploring Malta’s Capital City, Valletta

Valletta is Malta’s historic capital city and a UNESCO World Heritage Site. The city has a stunning mix of Baroque architecture, cobblestone streets, and breathtaking views of the Mediterranean. It’s a city that offers a harmonious blend of the old and new, where the past and the present converge to form a unique experience for visitors.

Top Attractions in Valletta

Valletta has a lot to offer for visitors, from exploring historical sites to relaxing with a drink by the sea. Here are some top attractions to explore during your visit:

St. John’s Co-Cathedral

St. John’s Co-Cathedral is one of the most beautiful cathedrals in Europe and a must-visit for anyone interested in Baroque art and architecture. Built by the Order of Saint John in the 16th century, the cathedral is home to many works of art, including Caravaggio’s masterpiece, “The Beheading of Saint John the Baptist.”

The Grand Harbor

The Grand Harbor is a natural harbor that has been used for centuries, making it an important site in Malta’s history. Visitors can take a boat tour of the harbor to see the fortifications that protect the city from the sea, or simply enjoy the stunning views from one of the many waterfront restaurants.

The Upper Barrakka Gardens

The Upper Barrakka Gardens offer a panoramic view of the Grand Harbor and the Three Cities. Visitors can also see the Saluting Battery, where cannons are fired every day at noon.

Cultural Experiences in Valletta

Valletta has a rich cultural heritage that is evident in its architecture, cuisine, and crafts. Here are some cultural experiences that you do not want to miss:

The National Museum of Archaeology

The National Museum of Archaeology has a vast collection of prehistoric artifacts, including the famous “Fat Lady” figurines that date back to 2,500 B.C. Visitors can also see displays from the Bronze Age and the Phoenician, Roman, and Arab periods.

Maltese Cuisine

Maltese cuisine is a mix of Mediterranean and North African flavors. Do not miss the opportunity to try some traditional dishes such as rabbit stew, pastizzi (flaky pastries filled with ricotta cheese or peas), and ftira (Maltese bread topped with tomatoes, olives, capers, and tuna).

Handicrafts

Valletta is home to many talented artisans who create beautiful handicrafts such as glassblowing, pottery, and lacework. Visiting these workshops is a great way to see how these crafts are made and to purchase unique souvenirs to take home.

Off-the-Beaten-Path Suggestions in Valletta

While there are plenty of popular attractions in Valletta, there are also some hidden gems that many tourists overlook. Here are some off-the-beaten-path suggestions to add to your itinerary:

The Siege Bell Memorial

The Siege Bell Memorial is a large bronze bell that commemorates the Allied victory during the Siege of Malta in World War II. Visitors can climb the stairs to the top of the monument for an incredible view of Valletta and the Grand Harbor.

The Lower Barrakka Gardens

The Lower Barrakka Gardens are less popular than the Upper Barrakka Gardens, making them a great spot to relax and enjoy the stunning views in peace and quiet.

Explore the Backstreets

Valletta’s backstreets offer a glimpse into everyday life in the city. From traditional shops and quaint cafes to local street art, there is always something new to discover. Take a leisurely stroll and explore the nooks and crannies of the city.

In conclusion, Valletta is a city that is rich in history, culture, and natural beauty. Whether you are interested in exploring historical sites or trying traditional cuisine, there is something for everyone in Valletta. Make sure to take advantage of all the city has to offer, including off-the-beaten-path suggestions, to truly experience this unique destination.