A Tale Of Two Kings
When the King of Rock and Roll died in August 1977, his estate was valued at more than US$10 million....
Read moreKathleen is the Live and Invest Overseas Founding Publisher. She has more than 30 years of hands-on experience traveling, living, and buying property around the world.
The economy in Malta is heavily dependent on foreign trade and acts as a freight distribution and docking point for the region.
Most importantly, the Maltese government has invested heavily in education over recent decades, and the result is a multilingual, highly sought-after, productive labor force.
The country adopted the Euro in 2008. Also, the financial services sector is well developed and the country is a key player in cross border fund administration.
Much of Malta’s manufacturing is focused around the electronics and textiles industries. As you would expect, tourism also plays a key part in the country’s economy.
Today, Malta clocks up around 1.2 million tourists per year, which equates to an impressive three tourist visits for every resident.
Malta is a rapidly developing country and the prices are increasing. The cost of incorporation almost reached the prices of Switzerland. However, the tax benefits outweigh any disadvantages.
Malta is an excellent location for people who seek access to the European common market and want to pay the lowest tax in a regulated and transparent business environment.
This country offers other hidden tax advantages, and it’s a great hub for private jet and yacht registration as well. EU nationals can register their yachts without any restriction.
Another plus is that Malta has a full imputation tax system which eliminates the economic double taxation of company profits.
Shareholders in receipt of dividends are entitled to a tax credit equal to the tax borne on the profits out of which the dividends are paid.
Although Malta is a small country, it gets a lot of air traffic, and Malta’s international airport is well accustomed to catering to it.
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Information Type | Notes |
---|---|
Real annual growth rate (2024) | 4.6% |
Per capita income | US$31,534 |
Inflation rate (2024) | 2.9% |
Sectors by GDP | services (87.2%), industry (11.4%), agriculture (1.4%) |
Exports (Dec. 2023): US$4.224 billions | machinery and mechanical appliances; mineral fuels, oils and petroleum products; pharmaceutical products; books and newspapers; aircraft/spacecraft and parts; electronical equipment. |
Major trade markets | Eurozone |
Imports (Dec. 2023): US$6,265 billion | mineral fuels, oils and products; electrical machinery; aircraft/spacecraft and parts therereof; machinery and mechanical appliances; plastic and other semi-manufactured goods; vehicles and parts. |
Major suppliers (2022) | Italy 25%, Canada 10%, France 7.3%, Germany 5.6%, Greece 5.5%, China 5%. |
Labor force (2024 est.) | 305,100 |
Malta ticks so many boxes—with its beautiful natural landscape, fantastic climate, high level of English spoken, large expat communities, and friendly locals—it is a country with broad appeal.
Eating out in Malta can be cheap, and the food is delicious.
When the King of Rock and Roll died in August 1977, his estate was valued at more than US$10 million....
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Read moreWhen the King of Rock and Roll died in August 1977, his estate was valued at...
Read moreMany North Americans looking to make a move overseas discount Europe right off the bat, thinking a retirement there is financially out of reach. This is a mistake. While of course you’ll pay a premium as a tourist in many of Europe’s capitals, the truth is that even they can be affordable choices if you know where to look and how to live like a local. Right now, I’m in Paris and, believe it or not, my husband and I...
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