The numerous business benefits make Malta Permanent Residence highly coveted today. Despite being the smallest country by land size within the European Union (EU), Malta consistently ranks as one of the fastest-growing economies in Europe.
Much like Singapore in Asia and Dubai in the Middle East, Malta is internationally considered a unique place to foster both new and existing business.
Benefits of Malta Permanent Residence to Individual Holders
A Malta Permanent Residency allows holders to:
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Permanently live in the fastest-growing economy in Europe;
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Travel visa-free to all 26 European countries that make up the Schengen area;
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Access the world’s largest economic zone;
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Become Long-Term European Residents after five years, thus unlocking many EU citizenship rights.
Why Malta is Attractive for Business
Malta has several attributes that make it attractive for foreign investors to do business:
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Speed and ease of setting-up business;
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The ability to trade freely across all 27 countries within the EU;
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A highly skilled and efficient workforce;
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The possibility of recruiting critical people outside the European Union;
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English as a primary language;
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Economic and Political stability;
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Strategic geographical location;
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Top business support services;
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World-class telecommunications;
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State of the art transhipment and distribution facilities; and
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Safe and pleasant lifestyle, lavish in culture and entertainment.
Malta’s Key Sectors for Investment
Historically, Malta’s growth has been driven primarily by its services sector, with notable contributions from the financial services and online gaming industries. Additionally, the tourism sector has consistently achieved record-breaking numbers year after year, both in cruise passengers and air arrivals.
Notably, no single sector dominates Malta’s economy. This economic diversification is a key reason why Malta was among the last countries to be impacted by the 2008 financial crisis and one of the first to recover.
As the country continues to expand into new industries, the following sectors stand out for their strong foundation and robust support:
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Aviation;
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Electronics;
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Financial services;
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Gaming;
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Generic pharmaceuticals;
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Information technology;
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Knowledge centre/back-office services;
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Maritime;
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Oil and Gas;
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Training and Education; and
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The Film industry.
Suggested reading: Top Business Opportunities in Malta
Advantages of Malta Permanent Residence for Business
Malta Permanent Residency allows you to establish residence and conduct business within Malta. As a result, you can enjoy all the benefits Malta offers as a business hub. Explore some of these advantages below.
Strategic Location
Firstly, a primary reason why Malta Permanent Residency is good for business is that Malta enjoys a free market economy, with significant trade in services and goods. The country is unique in the world through being a simultaneous member of the European Union, the Schengen Area and the (British) Commonwealth of Nations.
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European Union - The most extensive trading zone in the world composed of 27 European states.
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Schengen Area - A borderless area comprising 26 European states.
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(British) Commonwealth of Nations - A political association of 53 member states including Australia, Canada and Singapore.
Courtesy: Google Maps - European Union
Courtesy: Google Maps - Schengen Area
Courtesy: Google Maps - (British) Commonwealth of Nations
Economic Stability
Additionally, Malta is great for business because unlike many Mediterranean EU member states, Malta enjoys a low debt-to-GDP ratio and has a very robust banking sector. It is rated A+ by Fitch making it a very safe country in terms of economy.
Moreover, the economy has expanded at more than 4.5% per year since 2009, three times the average of the EU.
Additionally, Malta’s real GDP growth rate for 2020 and 2021 is projected to be between 3.8% and 4.2%, thereby cementing its position as the highest growth country in the EU.
It has also adopted the Euro as its base currency giving it further stability.
Suggested reading: Economic and Political Stability of Malta
Skilled Workforce
Moreover, Malta Permanent Residence can benefit your business because the island nation offers an extensive working ecosystem. Essentially, the Malta has the culture, resources and people to give professionals and entrepreneurs the possibility to set up and grow their business with success.
Moreover, the workforce in Malta is amazingly international and diverse; further attracting professionals from all corners of the world. In addition, the economic and political stability and a low crime rate provide higher levels of trust in the country.
Read More:
Easy Communication
Lastly, a key business benefit of Malta Permanent Residency is the ease of communication. English is widely spoken on the islands and is one of the official national languages. Due to Malta's history as a British colony, most locals are fluent in English, making communication and integration seamless. Additionally, most business transactions are conducted in English.
In conclusion, Malta Permanent Residency offers numerous business benefits that can help you establish and grow your enterprise. From its strategic location to its skilled workforce, Malta provides an ideal environment for business development.
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