RESIDENCY MALTA

Malta as a destination for investment migration and digital nomads

Quality of life has become an issue worldwide, particularly after the Covid-19 pandemic has ravaged what had hitherto been quite a complacent lifestyle. Showcase Dubai caught up with Residency Malta’s CEO, CHARLES MIZZI. During the interview he emphasised that this is the right time to consider moving country.

There has never been a time when considering economic mobility was more justified. In the context of the pandemic, where movement across continents, countries and borders has been seriously stifled, many individuals and families across the world are considering their future options, both in terms of quality of life and family wealth. Indeed, many players in industry have reported increased interest, perhaps juxtaposed with the current challenges of restricted travel.

“Should I invest in a second residency, to put my mind at rest and secure my family’s future? Should I have a Plan B for when things get challenging in my home country? Do I need visa access to the countries where my business is operating in? Do I need to consider countries with excellent health care systems, where my own country has baulked under the strain of the pandemic? These are the questions that many persons are now asking themselves,” observed Residency Malta’s CEO, Charles Mizzi. In his opinion, the answers lie in an assessment of the benefits that countries with residency programmes offer. “The questions you need to ask oneself should include: How will my quality of life improve? What educational opportunities exist for my children? If I fall ill, will I have peace of mind that I will be immediately well cared for? What are my business or start-up prospects?” he added.

MALTA: AN ATTRACTIVE PROPOSITION

Mr Mizzi listed the main attractions which Malta has to offer. “We’re talking about one of the safest countries in the world, with a negligible crime rate. This should attract families who would like to spend their time in an environment where children run around freely with little supervision and young girls and women go out for early morning jogs, safe in the knowledge that no harm will come to them,” noted Mr Mizzi. Focussing on Covid-19, Mr Mizzi praised Malta’s health care system which rose to the occasion with an excellent performance when handling the rise of Covid cases. The country registered impressive vaccination statistics, dominating the EU tables. Health authorities gave daily public briefings and introduced general restrictions that helped mitigate the spread. It is no wonder, he added, that Malta ranks among the top for its health institutions.

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We’re talking about one of the safest countries in the world, with a negligible crime rate.

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Investors and entrepreneurs look for jurisdictions with strong economies, high regulation, government support and marked demand. Malta has all these elements while constantly garnering positive ratings from credit agencies and topping the EU charts for economic growth.

Charles Mizzi - CEO Residency Malta Agency

Living in Malta could be considered as much easier than in other countries. The Maltese, he said are a hospitable and welcoming people. A large expat community has ensured a multi-cultural ambience over the years. With English being an official language, people find it easy to communicate. The level of education is high with a large selection of both public and private schools. The 400-year-old University of Malta offers a wide variety of faculties and research institutes for both local and foreign students. Investors and entrepreneurs look for jurisdictions with strong economies, high regulation, government support and marked demand. Malta has all these elements while constantly garnering positive ratings from credit agencies and topping the EU charts for economic growth.

“The cherry on the cake is the country’s mild climate with 300 days of sunshine a year and the proximity of things being a small Island state,” said Mr Mizzi.

THE MALTA PERMANENT RESIDENCE PROGRAMME (MPRP)

The MPRP is a property-based residency-by-investment programme that gives beneficiaries the right to stay, settle and reside permanently in Malta. With options to purchase or lease property, and make a direct contribution to government, up to four generations may apply, making family relocation a possibility. Applicants must also make a donation to a local registered Non-Governmental Organisation. Mr Mizzi was keen on highlighting the process: “Managed by Residency Malta Agency, applicants must go through a four-tier due diligence exercise that ensures that only fit-and-proper individuals and families are given Maltese residence status. Applications are required to be submitted via a licensed agent, who will act on their behalf”.

DIGITAL NOMADS

Among the multitude of changes it brought about, Covid-19 also gave the final blow to the concept of the traditional workplace. While remote working kicked in for many as a measure by employers to control cases at the office, the future bodes well for hybrid

arrangements that give flexibility and improve work-life balance. So, with teleworking no longer the prerogative of the few, many will be seeing how to best exploit this newfound way of working remotely. “For those in the knowledge-based industries, working from one country while giving services to employers and clients based in other parts of the world is now even more doable,” said Mr Mizzi. Residency Malta Agency was quick to react to this trend and launched a new Nomad Residence Permit intended to give third country nationals the opportunity to work remotely from Malta for a temporary period. Malta already hosts a significant digital nomad community made up mostly of EU nationals who do not require any permits due to freedom of movement. The new permit is intended to reach new niches beyond Europe, as global mobility continues to rise and gain popularity, post-Covid.

“Applicants who wish to work remotely from Malta, for a temporary period of up to one year, must prove they can work remotely, independent of location,” explained Mr Mizzi. They should either work for an employer registered outside of Malta, conduct business activity for a company registered outside of Malta, and of which they are partners or shareholders. Otherwise they can offer freelance or consulting services to clients whose permanent establishments are in a foreign country. “The process”, assured Mr Mizzi, “is simple and Residency Malta promises an efficient service that discerning nomads expect”.

Millions of people, continued Mr Mizzi, are on the move and Malta is set to capitalise on this and on its potential for economic contribution. In the context of the pandemic the Agency feels the time is ripe for attracting entrepreneurs and adventurers to the safe English-speaking Mediterranean island life that Malta offers. The only tool required is a good laptop to connect to Malta’s nation-wide strong 5G infrastructure. n

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Millions of people, continued Mr Mizzi, are on the move and Malta is set to capitalise on this and on its potential for economic contribution.

More information about the MPRP and about Malta’s Nomad Residence Permit may be found at www.residencymalta.gov.mt