Malta isn’t just breathtakingly beautiful – its infrastructure, including corporate legislation and stable banks, makes it very friendly to business-owners and investors.
Now, things are changing, with the EU tightening its leash on regulations.
Malta is notorious for what is known as its golden passport scheme.
This provides citizenship to those who make financial investment in Malta (more exactly, paying at least €600,000, buying or renting property of a certain value, and donating €10,000 to charity).
But now, the European Commission has ruled that this is contrary to European law, and raises a risk of money laundering, tax evasion, and general corruption.
Malta hasn’t commented, but will pay large fines if it doesn’t conform.
The question became tendentious in 2022, when Russian and Belarusians fled to Malta.
The golden passport scheme was suspended for these two groups.
That was when the EC decided to sue Malta.
Malta is particularly beloved by digital nomads, for its climate and views. Because it allows single-member company ownership, it’s easy to run and set up a company in Malta. The tax system, too, is pretty good – lower than most European countries, though the commission will probably take umbrage with that sooner or later.
