Ask most people in the UK whether they would consider working abroad and the likely response is ‘yes…’ – followed by ‘…to New York, Singapore, Dubai, Hong Kong or Australia’. Malta is unlikely to make the shortlist, but on closer inspection there are a number of compelling reasons why Malta should be a destination of choice for anyone considering a move abroad.
Generally speaking people move abroad to progress their career, to improve their lifestyle choice or to increase their earnings. It’s possible to achieve all three of these in Malta, while remaining in Europe and being in easy reach of friends and family at home.
According to projections by Deloitte, the economy of Malta is forecast to grow at nearly 4% in 2014, more than twice as fast as the Eurozone area as a whole. Malta has grown into a significant financial services hub with a solid reputation and well-established regulatory framework. The IT and e-commerce sectors in Malta are thriving, driven by igaming companies and the online payments sector. Malta also has the largest shipping registry in Europe, and due to its strategic location is becoming a regional HQ for businesses with a focus on the Middle East and Africa. English is an official working language, and there are no work permit restrictions for EU citizens. All this means that there are some fantastic career opportunities in Malta.
According to International Living’s Quality of Life Index, Malta is ranked 2nd in a worldwide quality of life index. It is also the 2nd safest country worldwide according to a UN Institute report. Malta is a small island and it is easy to get in and out of the office. There are excellent international schools, the climate is fantastic, there’s great diving and watersports (we’re reliably informed that the nightlife is pretty good too).
Salaries in Malta tend to be slightly less than in Northern Europe, although some employers are prepared to pay comparable salaries to secure the best talent in specialist areas. Furthermore, tax rates and the cost of living are significantly lower, meaning net pay and disposable income are often higher. The Government of Malta has also implemented a special income tax rate of 15% for foreigners working in senior positions within the financial services, iGaming and aviation sectors.