Increasing number of South Africans showing interest in Malta

With more South Africans pursuing stability and new opportunities overseas, Malta has emerged as an increasingly appealing destination for both affluent families and businesses.

Recent data from Credence, a corporate services and advisory firm, a rising number of South Africans are exploring residency, citizenship, and business expansion options in Malta.

SOUTH AFRICANS SEEK SECURITY

Malta is not just a tourist’s delight, the Mediterranean island has significant financial stability and access to global markets.

Regarding individuals and their families, this trend is driven by several factors, including South Africa’s volatile economic and political climate, and the desire for a secure future.

This is in addition to the fact that Malta is one of the safest countries in the world – where anyone can walk home at any time.

DESIRABLE EU CITIZENSHIP

Malta’s residence programmes allow the applicant and their family to live in Malta permanently and provide visa-free travel across the EU for 90 days in a 180-day period.

European Union (EU) membership means that South African families acquiring Maltese citizenship through investment can live, work and study in any of the 27 EU member States without any restriction.

Malta has an extremely powerful passport globally with visa-free access to over 170 countries, including the United States and Canada.

MALTA OFFERS TAX BENEFITS

While Portugal and Spain also offer favourable immigration and investment options for South Africans, Malta stands out due to its transparent programmes, English-speaking population, efficient bureaucracy, and proximity to major European financial hubs.

Additionally, Malta provides businesses with favourable tax rates within a transparent regulatory framework which is not always offered by its EU counterparts.

Furthermore, Malta also offers a popular tax-based non-dom residence programme.

For companies, Malta provides access to the EU’s expansive market while maintaining a tax-efficient environment that appeals to both entrepreneurs and large corporations.

SEEKING A PRESENCE IN EUROPE

As more South African businesses seek to establish a foothold in the EU, sectors such as Malta’s finance, technology, and real estate are experiencing notable growth.

Dr. James Muscat Azzopardi, Director at Credence, has assisted many South African businesses in either relocating to Malta or establishing an additional presence there.

“The ability to integrate easily into Malta’s English-speaking community, along with the cultural similarities, make it a natural choice for those looking to relocate or invest.” Muscat Azzopardi said.

INCREASING NUMBER OF SOUTH AFRICANS CHOOSE MALTA

According to Businesstech, entrepreneurs wishing to use Malta as a base or launch pad for their business ventures will find a pro-business environment, with government entities geared to assist and support. 

Credence reports a rise in inquiries from South Africans interested in leveraging Malta’s business-friendly regulations and extensive network of trade agreements.

“Malta’s strategic location and ease of doing business have proven critical for many of our South African clients,” he said.

KEEPING ONE FOOT IN SOUTH AFRICA

That said, several businesses setting up shop in Malta still retain strong connections with South Africa.

Muscat Azzopardi emphasises that many SA businesses maintain strong ties with South Africa while expanding their global presence and securing their financial futures in Malta. He has helped numerous South African companies navigate Malta’s legal and regulatory landscape, enabling them to operate across both markets.

“Malta presents a unique opportunity for South African businesses to access the European market without necessarily uprooting their operations completely from home. Many clients retain their South African company for income deriving from South Africa, but set up a Malta presence for expansion, especially into the European market.” Muscat Azzopardi says.