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About Malta

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Malta is an archipelago in the heart of the Mediterranean and has a population of just over 440,000 inhabitants. It is a Member State of the European Union (EU) since 2004 and has adopted the Euro as its official currency in 2008. The islands are located less than 60 miles south of Italy and 220 miles north of Africa. The official languages are English and Maltese.

Malta is a popular destination for expats from all over the world. One of the distinctive attributes in this respect is the Mediterranean climate which is complemented with relatively warm temperatures throughout most of the year. Additionally, political stability, top-ranked healthcare, low crime rates, low unemployment and the rich and diverse history are other attributes of Malta’s attractiveness as an expat destination.

These unique characteristics have also been endorsed in a number of international publications. Most notably, Malta is ranked:

- Third best country in the world for expatriates – Wall Street Journal
- Best place to retire – The Telegraph
- Third best expat destination – Expat Insider

Visa Free Travel

Citizens of Malta are able to travel visa free to over 160 countries around the globe in addition to having the right to live, work and study in all Member States of the European Union. Being a member of the Schengen area, residents (as opposed to citizens) of Malta are also able to travel visa-free across the Member States of the European Union with the exception of the United Kingdom.

Economy

Malta has a diverse, market-driven economy with a focus on higher value added services in industries such as tourism, gaming and financial services. The Mediterranean climate, political stability and a highly educated English-speaking work force are strong attributes of Malta’s economic success.

In 2014, the registered unemployment in Malta was reported at 5.9% compared to the EU average of 10.2%.

Forecasts published by the European Commission in 2014 show Malta’s GDP as registering the highest growth rate since 2010, which growth is expected to accelerate slightly in 2015 and 2016.

Property in Malta

Figures published by the National Statistics Office (NSO) in Malta denote a vibrant real estate market with property prices registering a 2.8% increase in the first quarter of 2015 compared to the same quarter of the previous year.

Despite the surge in prices, real estate in Malta is still reasonably priced when compared to rival European locations.