News

Several incentives aimed at enhancing investment, promoting new economic sectors and redistributing wealth were highlighted in the Malta Budget 2019, presented by the Finance Minister Hon Edward Scicluna, aimed at strengthening Malta's economic growth.

According to the latest Global Competitiveness Ranking report, Malta places 36th out of 140 countries. Amidst the others, Malta recorded positive performances in Macroeconomic stability, Health, Labour Market and ICT Adoption. The successful performance is the result of the efficacious policies and sound legislations implemented by the Government over the past years, which have contributed to the country’s economic growth and increase in FDI.

The MFSA has recently further enhanced the procedures in place when dealing with PEPs in relation to money laundering practices and the financing of terrorism. Through the application of such guidelines, one will be able to identify the level of risk posed by PEPs and the due diligence procedures which will apply.

The Malta Gaming Authority has recently announced an initiative which will allow individuals to forge a relationship between iGaming and Blockchain. By taking such an avant-garde approach, Malta is fostering further innovation within the industries. It is, therefore, truly establishing itself as a leader within both rapidly evolving industries.

New Emerging Technologies Lab Officially Inaugurated

Chetcuti Cauchi Advocates has produced a report analysing the approach various governments around the world have taken towards Blockchain. By understanding the manner in which such regulations will impact operators involved in the industry, DLT- based ventures will be able to properly develop within the global economy.

Malta is currently experiencing unprecedented success within the Maritime industry, with a record number of Superyachts registered under the Malta flag. Through various efforts and incentives, Malta's shipping registry is presenting itself as a leader within the European Union as well as around the world.

With the launch of the Malta Digital Innovation Authority, innovative technologies are given the opportunity to work within an environment which has adopted a pro-business attitude towards the Blockchain industry. The authority is established in such a way as to provide Blockchain based industries with legal framework, whilst at the same time allowing the industry to further flourish.

Despite being one of the most recent Residence by Investment Programmes to be launched, Malta Permanent Residence applications hit the record high. Indeed, 1017 applications have been received to date. This success can be attributed to various factors, namely Malta's growing economy, reputability, as well as Malta's commitment towards the highest standards of due diligence with regard to prospective applicants.

Residential prices in Malta have undergone a roughly 17% year-on-year increase, pushing the country ahead of Hong Kong to the top spot for the first time in global consultancy agency, Knight Frank’s, latest Global House Price Index for Q2 2018. This leap in ranking comes in light of the ever-growing demand instigated through supply restraints, consistent vigorous economic growth, and booming technological advancements.