Malta is our next destination in our “far-flung” places to immigrate to. While it might not be top-of-mind for a South African planning to head abroad, it now ranks as the fifth best pace in the world to work in terms of overall job satisfaction in a survey that featured 64 participating nations. So let’s explore what it has offer…
Malta: a top choice for expats
One of the best places to work
Norway, Sweden, Germany and Luxemburg are normally regarded as the best countries to work in, but Malta is currently at number five on the Working Abroad Index. According to the survey conducted, 70% of Expats were satisfied with their work and one in five working expats couldn’t be happier. 50% of expats also said they would like to spend the rest of their lives in Malta.
Beautiful “holiday” weather
Living in Malta is like being on perpetual holiday. The Maltese summer days feature an average temperature of 28 degrees centigrade and will offer you up to 12 hours or more of daily sunshine. In the spring and autumn, a very hot wind from Africa known as the Sirocco drives up temperatures even higher.
If you decide to settle in Malta and become a permanent resident, you will enjoy a beneficial taxation package that includes:
- A flat rate of only 15% income tax on imported funds
- Overseas capital funds invested locally are only taxed on interest or dividends
- Double taxation agreements exist with a number of countries, ensuring taxes are not paid twice
An excellent medical service
Malta’s healthcare system is inspired by the UK’s National Health Services and is funded largely by general tax revenue and national insurance contributions. Generally, you pay no charge on the services your receive unless you are not entitled to healthcare benefits. All Maltese citizens, EU health cardholders and British passport holders have access to free and subsidised healthcare, but other expats will need to take out private insurance. Private healthcare in Malta is not extensive but has very high standards and offers the benefit of shorter waiting times and superior facilities.
A fabulous outdoor lifestyle
The mild climate is an invitation to spend time outdoors, enjoy the wide range of sports on offer including tennis, golf, scuba diving, yachting, fishing and walking. Malta offers such a peaceful lifestyle you can even walk at night.
Plenty of history
For a history enthusiast, Malta has 7000 years of standing history and has a diverse range of museums and historical sites dating back to the copper age. Unlike many European countries, much of the past is still visible today.
Other good reasons to head to Malta…
- A high standard of living – your income will go a long way, ensuring you enjoy a high quality of life
- A bilingual society where English is the second language spoken by most residents.
- If you move to Malta from an EU country, you are still entitled to your home country’s state pension, which will be paid into your Maltese bank account.
- Malta is close to most European countries if you want to head back to visit family on a regular basis.
If you’re planning on immigrating to Malta or another “far-flung” destination and need any advice about your financial migration, just leave your details and we’ll help you move your money to your new home.
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