Trusted Property Management in Malta
Second properties are especially popular in Malta. A recent survey found that almost 20% of Maltese residents own a second property somewhere in the country.
The obvious thing to do with your vacation property (or principal residence) when you aren’t using it is to rent it out. You probably don’t want to trek up to Gozo to change the sheets every time a short-term tenant checks out. And who wants to worry about a leaky roof while overseas for an extended stay?
Both situations are where good real estate management comes in handy. And also makes owning multiple income properties doable.
But Malta is a small country and, to some extent, the government has learned the lesson demonstrated by its Mediterranean neighbors. So, there is a fairly significant set of regulations on buying and renting property in Malta, which discourage run-away development and slipshod rental practices.
A good property management company in Malta can help you with the day-to-day operation and also guide you on how to stay within the letter of the law. Continue reading “Trusted Property Management in Malta”
Is Malta a Tax Haven?
Malta has always been an outlier. Whether you look centuries back to the time when it was ruled by a Catholic order of knights or more recently as a British colony — it has done things differently.
The colonial history combined with a more recent desire to build a reputation as a financial center and establish a strong economy has led Malta to a very favorable tax regime. One that some people may call a tax haven.
But the current desire to integrate with the European community and avoid censure from American authorities has lead Malta to scale back on the tax allowances.
Still, government authorities say Malta’s tax code is its strongest card in a competitive world.
Is Malta a traditional tax-free jurisdiction in today’s world? Definitely not, it has some of the highest on-paper tax rates in the world. But there are some very attractive tax advantages in Malta and we’ll thoroughly outline them in this article.
Finding the Right Tax Advisor in Malta
Taxes are often a complicated part of life. Tax codes usually set out with clear intentions to incentivize certain choices. Time and competing interests can muddy these waters.
But this gets increasingly complicated as an expat or someone who has assets or income from abroad.
In Malta, there are a few residency schemes (with significant tax incentives) laid on top of a fairly straightforward tax system. So, even if locals don’t need a tax planner, you might to ease the process of relocating to Malta.
Some of Malta’s residency programs are only open to EU citizens (or citizens of EEA countries) and some are open to everyone. Professional advisors can help sort through these details.
As well, the list of countries who have signed a double-tax treaty with Malta continues to grow. That might mean that tax planning advice may be helpful if you’re sorting out what you owe to a former home country, or when investing and operating businesses abroad.
Below, you’ll find advice on the best of Malta’s tax advisors and a full guide to how they can help you soften the blow at tax time.
Guide to Commercial Property & Office Space in Malta
Many of us who call Malta home run our own business. If you’re planning to join the burgeoning class of entrepreneurs, you may also be on the hunt for office space or some type of commercial real estate in Malta.
Commercial property in Malta is a bit less widely available than the residential equivalent. It also tends to be more specialized, obviously, depending on the type of business you run.
Compared to renting or buying a residential property, there is an even greater expectation of caveat emptor and that both parties know what they’re doing when it comes to commercial property.
For all of those reasons, it is crucially important that you do your research, have a plan and seek advice whenever possible. This guide will help you draw up your plan and make essential decisions like whether to buy or rent in Malta.
Continue reading “Guide to Commercial Property & Office Space in Malta”
Health Insurance in Malta
Malta’s healthcare system is one of the country’s main selling features. In fact, some world rankings have put it as high as 5th globally.
That level of excellence comes at a cost. Citizens and most residents have access to free health insurance in Malta that is supported by social security contributions made by employees and employers.
For things that aren’t covered, there are private health insurance options in Malta. Buying one of these policies can be a smart move for expats.
Below is an outline of how the system works, what’s covered and estimates for the cost of one of Malta’s health insurance options.