If you are a South African and are looking at relocating to an EU member state, or investing in real estate, you need to check out Malta.
The sunny island nation of Malta is located in the heart of the Mediterranean and it is steeped in history and culture and has been part of the EU since 2004. Over the years, many South Africans have made the move to the island and they have never looked back! With a buoyant economy and an emphasis on personal safety, this is a country where South Africans feel at home from the moment they arrive.
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Qualifying for one of Malta’s Residency programmes, South Africans will have the right to reside indefinitely in Malta. One will also be able to work in Malta and not be bound to a minimum physical presence as is usually required to maintain immigration status. All family members of an applicant are also eligible. Attaining residency in Malta also allows border-free travel for its residents to the rest of Europe within the Schengen Zone.
Most direct flight durations to major centres in Europe takes only a few hours, for example Heathrow to Malta takes 3 hours and 10 minutes, Berlin to Malta takes 2 hours and 50 minutes and from Amsterdam’s Schipol to Malta takes only 3 hours! Flights to South Africa are pretty easy, with daily connecting flights through Dubai, Istanbul or London as well as all major European capitals.
It’s a fact of life that as we get older, we have no choice but to make good healthcare a priority. South Africans are already used to paying vast sums for private healthcare in order to have better levels of quality service, but it is very expensive. Plans offered by the top South African insurers can cost many thousands of rands per month. By comparison, healthcare plans in Malta are offered by all the big general insurance companies and are a lot cheaper per year than in South Africa. If you are employed in Malta and contribute towards social security, you will be able to make use of free healthcare within reason and the plus is that it is first-world standards all the way.
In Malta private security companies patrolling neighbourhoods are unheard of and armed response is a foreign concept. You can still drive around with car doors unlocked, you can still have your laptop or handbag on the seat of your car and not fear a smash-and-grab situation, you can safely go out and walk down the street after dark in any village or town. The nightlife on the islands is legendary even in the smallest villages and towns.To most South Africans this all may seem like utopia, but just ask any South African who relocated to Malta: it is one of the biggest and best reasons to jumpstart one’s life, to cease looking over your shoulder day and night and start living again on this jewel of an island.
Malta as a country offers a low-cost environment with an advantageous tax regime and when it comes to expenditure, the biggest component of Malta’s GDP is as a result of local consumption. This is a positive sign that in Malta you get bang for your buck when compared to other European countries. And if you want hard stats, suffice to say that Malta’s GDP in 2021 grew by 9.4%. The Central Bank of Malta expects it to grow by 6.0% in 2022 and by 5.3% in 2023. For South Africans wanting to establish businesses in Malta, the country’s geographical proximity to and diplomatic links with the EU and Schengen Zone means there are endless opportunities that await.
Frank Salt Real Estate is hosting its next series of “MOVE TO MALTA – RESIDENCE, PROPERTY INVESTMENT & RELOCATION SEMINARS” for South Africans shortly. Registration for the seminars is free of charge, but the number of participants that can attend is limited, so book your seat today.
We will navigate the market to find the right opportunity for you. In the meantime, here is a very small taste of what of properties and investment options Malta has to offer.