More EU citizens are expected to choose the Malta flag for their ships/ yachts in view of the recent amendments allowing EU citizens residing in Malta to register their vessels directly under their ownership without the need to appoint a resident agent, who is generally appointed for reasons of representation and daily administration relating to the vessel.
Statistics for 2011 indicate an increasing trend in property acquisitions by foreigners in Malta.
Harrods will be showcasing the best of what the island of Malta has to offer during the month of March.
The High-Net Worth Individuals – Non-EU/Non-EEA/Non-Swiss Nationals Rules, 2011 have been amended on the 27th January 2012 through L.N. 42 of 2012.
January 2012 hailed Malta's success when the island placed top of the list for The Best Climate in the World in 2011 and third place in the overall 2011 Quality of Life index(International Living (IL) Magazine Index).
“For many people, an important consideration when moving overseas is the weather. Usually we yearn to escape harsh winters, snow, rain… and dream of living in a place where the sun shines every day...”
FT has run an article highlighting Malta's efforts to attract HNWI and speaking at lenght about the attractions of the Maltese property market.
The Maltese Housing Authority announced the introduction of a new rental scheme. Eligible property owners classifying under this scheme will be guaranteed a lease for a period of 10 years. Gains arising therefrom in favour of the lessor will be subject to tax 5%.
August hailed an international recognition award for the Malta Lotteries and Gaming Authority, chosen as The Best Global Online Gaming Regulator for 2011 and awarding it the Fast50 Award. This international recognition award was highly welcomed by industry, Malta gaming operators and practitioners alike.
On the 15th of September 2011, Malta’s Finance Minister announced the High Net Worth Individuals scheme for residence in Malta. Under this scheme, tax is payable in Malta at the very beneficial flat rate of 15% on a remittance basis, that is, only on foreign source income remitted to Malta.
A bill has been published on Tuesday 19 July 2011 issue of the Government Gazzette introducing tighter regulation for public notaries. The new amendments seek to provide the entire profession with enhanced reputability through increased regulation.