With around 25,000 foreign residents and workers, Malta is a popular destination for wealthy investors seeking a better lifestyle and a second passport. Malta’s popularity was recognized by a survey conducted by The Wall Street Journal that ranked the country as the third-best destination for expats and UHNW investors alike.
Another survey, EY’s Malta Attractiveness Survey 2015, indicates that the number of foreign companies planning to establish a presence in the country within the next ten years has risen from 59% in 2014 to 75% in 2015.
These surveys merely affirm the fact that Malta offers a rare combination of political, social, and economic stability in the European Union. Foreigners settling in the country enjoy access to quality infrastructure, a skilled workforce, and a business-friendly environment. Another significant factor is Malta’s Individual Investor Program, which offers direct citizenship in lieu of compliance with minimum investment requirements.
The IIP has helped the country leverage itself as an investment destination for entrepreneurs seeking to obtain the highly-valued status of a citizen of the European Union. Investing in real estate in Malta makes foreign nationals eligible to obtain citizenship and acquire the Maltese passport.
Fast-track citizenship is just one of the many attractions for foreign investors. Membership of the EU, a liberal tax regime, a stable society, transparent polity governed by rule of law, and a business-friendly environment promoting innovation with minimal regulation are some other factors that appeal to foreign investors. However, a relatively less-developed domestic market, inadequate logistics infrastructure, and lack of emphasis on research and development are some potential issues that may hurt investor interest in the country.
Currently, Malta is home to two billionaires and 35 Ultra High Net Worth individuals with each UHNW investor worth at least $160 million. A recent survey by the Wealth-X and Malta Sotheby’s International Realty reveals that more than 75% of all IIP applicants in the country were first-generation UHNW individuals who created their wealth from scratch.
The growing presence of self-made millionaires in Malta is paving the way for the country to become a hub for start-ups in the EU. The country is now attracting entrepreneurs from the EU and other parts of the world who seek a platform that supports high-growth centric startup organizations.
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