ifted with its warm and sunny climate all year round, its unique mediterranean landscapes and crystal-clear waters, combined with numerous cultural and historical sites, Malta has long earned its reputation as a premium touristic destina- tion. However, the country is more recently being recocgnized as a first-choice destination for FDI, business and relocation by high-net-worth Individuals and investors, entrepreneurs, digital nomads and foreign professionals whom are increasingly attracted by the country’s booming economy and opportunities, strategic location and high connectivity, in addition to its pleasant quality of life and stable and safe environment. Located right in the heart of the Mediterranean, at the crossroads between Europe, the Middle East and North Africa, Malta is the European Union’s smallest member state. Famous for its 7000-year History, the country has emerged as one of the most remarkable stories of the Eurozone. Recognized for its pro-business attitude, state-of-the-art infrastructure, and modest costs of doing business, it has become the go-to country for growth-minded entrepreneurs and multinational companies. Malta’s strong economic performance has been lauded in multiple occasions by various international entities such as the European Commission, the International Monetary Fund and credit rating agencies. The country’s economy is well balanced and predominantly export-oriented. The major indicators namely, gross domestic product, labor market developments, industrial production and trade, all indicate growth : the Central Bank of Malta is projecting a GDP growth of 5.2% in 2022 and a similar trend in the three coming years and the country’s labor market is showing the fastest employment growth rates amongst all the EU28 members, increasing at a steady rate of over 4%. Aware of its limitations in terms of size, with a population of just over 443,400 people, the country keeps fuelling its innovative economy with new talents and capital by actively welcoming foreign professionals, businesses, and investments. The country has created new citizenship and residency by investment programs, in addition to one of the most sought-after digital nomad residence permits, offering favorable conditions for non-EU nationals to relocate to the European island and settle in smoothly. As an FDI location, the Maltese Government and Business Community have a medium to long-term vision and are currently focusing on higher value-added type of investments, digital innovation, financial services, climate action and energy, aviation and maritime, health and pharmaceutical industry, education or tourism and culture. The archipelago’s strong and consistent growth is leading the country to becoming the destination of choice for a number of multinational companies seeking to relocate their operations or looking for an ideal market within the EU and the Mediterranean area. The country’s main strengths lie in its efficient and qualified workforce, and the flexibility and proximity of the Government and institutional decision makers, the use of English as a business and official language, an attractive legal and fiscal framework for international companies and investors, as well as low operating costs. Thanks to its internationally recognized educational system offering a wide variety of faculties and research institutes for both local and foreign students, and its solid medical sector, ranked by the World Health Organization has one of the top performing health systems in the World, Malta is also an ideal destination for foreign families willing to relocate to a safe and well connected European country, or even retirees willing to enjoy island lifesltye in the middle of the Mediterra- nean. 3ARABIANBUSINESS.COM A LEADING STATE ATTRACTING TOP-NOTCH TALENTS AND CAPITAL FROM ALL AROUND THE WORLD GInterview with he Middle Eastern markets have allowed the travel and tourism industry in Malta to truly diversify and strengthen its geographical mix of inbound tourism from one which was predominantly European to one which is constantly evolving into a truly global mix of nationalities. In turn, this has allowed the tourism offer to adapt to a more varied and international offer, with the Islands adopting a more cosmopolitan approach and lifestyle. Air connectivity with the Middle East is vital for tourism in Malta not only because of the potential of attracting tourists from the region itself, but also because it links Malta to so many other destinations in the Far East including Japan, Australia, China and South Korea via Dubai as a major airport hub. Following the difficult times the world has faced as a result of a global pandemic, Malta is back on track and fast on the road to recovery, with expectations to reach pre-Covid levels of tourism in the short term. There is an increase in appetite for travel from the Middle East, with established markets including the UAE steadily progressing, whilst emerging markets such as Saudi Arabia providing fertile ground for new business opportunities in travel. Moving forward, and specifically for the UAE, we have maintained our marketing and promotional efforts in the region, and have likewise invested in educational platforms for travel agency training. We have also kept Malta’s visibility on the market and are constantly forging strategic relationships with industry partners including airlines, OTAs and TA networks. We have also strengthened our diplomatic ties in the UAE, with an Ambassador in Abu Dhabi who is very active on all levels, including travel and tourism. Tourism is a people’s industry, and undoubtedly, the impact of physical events can never be replaced by virtual ones. The Malta Tourism Authority is once again participating in the ‘Middle East Travel Caravan Roadshow’ this year, to consolidate business relations with the main tourism stakeholders, particularly in Dubai and Riyadh. This is a wonderful platform for us to personally meet the key industry players. 4ARABIANBUSINESS.COM CONNECTING TO Carlo Micallef , CEO of Malta Tourism Authoruty THE EAST ith Malta oruty T MORE DISCOVERIES FOR MORE IMPRESSIONS hose who come to Malta for the first time are pleasantly surprised by the richness and variety of its tourist offers. The country has a very bright and original character, ensuring an unforgettable experience to each visitor. Malta is literally saturated with history, and its architecture is striking at first sight. The local temples are older than Stonehenge and the Egyptian pyramids. Cultural life abounds with theatrical performances, concerts and art exhibitions. An equally active program awaits lovers of the deep sea - the purest waters of the Mediterranean Sea are ideal for a quiet beach holiday, as well as for diving and all kinds of water sports. Local gastronomic delights will surprise foodies with new tastes and aromas. Malta strikes with its beauty. Its charm lies in its rocky coves and steep cliffs, but also in its sandy beaches. About a third of the territory is arable land and consists of terraces carved into the slopes of the hills for the cultivation of crops. These moist soils, overgrown with a variety of plants and wildflowers, are home to many species of birds. The territory is divided into three main islands: Malta, the largest and most developed one, followed by Gozo and Comino : easily accessi- ble by ferry from the main island and easy to explore in a day due to their small size, they will surprise you with their local charm and authenticity. Visit craftsmen's workshops, practice active sports, embark on a boat trip, get acquainted with local wines - this is just a small list of what the archipelago offers its visitors. Once you embark on your own trip to Malta, you will find that the country has much more to offer than meets the eye. Thether seeking a fresh start for themselves and their families in a safe and stable country, or exploring new business ventures, applicants can rely on the expertise of a list of Licensed Agents ready to ensure the fastest and smoothest possible processing of applica- tions, within the respect of the strictest due diligence. W “Providing effective immigration by investment solutions is our core business and competence. We do this with the greatest integrity and respon- sibility. Building long healthy relation- ships with customers and partners alike is the order of the day at immVest. ” “Our proven success in delivering residence & citizenship solutions to our clients and their loved ones makes us the only team that you will need in Malta.” “We focus on getting to know families, extended families and businesses and believe this is the key to great relation- ships.” Roderick Cutajar , CEO of immVest Dr Russell Attard Baldacchino , Founder and Licensed Agent Henno Kotze, Director - Dixcart Management Malta Ltd RELY ON LICENSED AGENTS ARABIANBUSINESS.COM 9Invest in Malta Edition, October 2022 MLT 7alta is considered a safe and secure country, attracting the interest of several families to call home. With a friendly, hospitable, and English-speaking population, Malta boasts excellent educational facilities, all factors that contribute richly to the pull-factor of the island. The Maltese economy has diversified well in the high-end manufacturing and services industry, as it has grown in popularity with tourists, while nurtur- ing a veritable hub for the ICT and gaming indus- tries. Most certainly, the Government’s growth-friendly measures, coupled with its sound fiscal policy, have transpired into a thriving econo- my which is expected to continue to grow. Community Malta Agency was established for the purpose of amalgamating all processes related to citizenship into a one-stop-shop. The centralisation of such functions serves to be conducive to better efficiency and effectiveness of the management of the relative processes. “In order to welcome international investors and families with a long-term vision, the granting of Maltese citizenship by naturalisation for exception- al services by direct investment is made possible on the basis of investment as established by national law by means of ad hoc Regulations. In this regard, a greater balance is achieved between the grant of such an important right as citizenship and those conditions related to investment and residence that regulate the relative process,” explains Joseph Mizzi, CEO of Community Malta Agency. Indeed, the conditions related to the acquisition of Maltese citizenship on the basis of investment are based on rigorous due diligence processes which give credibility to such an exceptional avenue of the grant of Maltese citizenship and its inherent prestige. “Malta wants to attract exceptional individuals, of net worth, who possess the resources to satisfy the financial requirements listed in the eligibility criteria, and most importantly who are of good character. Applicants are vetted through a rigid due diligence process, however, citizenship would not be granted unless residence requirements and property conditions are satisfied together with the relative contributions effected.” A revised framework governing the possibility for the grant of citizenship under this avenue provides for a two-stage application process. Basically, first, the applicants would have to apply for eligibility, whereby following a rigid due diligence process, the Minister responsible for citizenship matters would authorise them to apply for naturalisation. At the second stage, the eligible applicant would submit an application for naturalisation. The applicant would be approved if residence, acquisition of property and financial requirements are satisfied. In this regard, they need to satisfy a three-year residence condition if a contribution fee of €600,000 is made by the main applicant or, by exception, a one-year residence condition whereby the contribution would be €750,000. A contribution of €50,000 would have to be made in respect of each dependant. Moreover, applicants are required to purchase, an immovable residential property in Malta valued at no less than €700,000 or lease a residential immov- able property in Malta for a minimum annual rent of €16,000. Applicants are also required to donate, prior to the issue of the certificate of naturalisation, a minimum of €10,000 to a registered philanthropic, cultural, sport, scientific, animal welfare or artistic non-gov- ernmental organisation or society. Following the approval of this request, they would have to satisfy such requirements within six months of their notification of approval in order to be granted the relative certificate of citizenship.Next >