So many are trading the glitz of Dubai for a picturesque island simply three hours away, the place taxes are minimal. The solar-drenched Mediterranean vacation spot of Malta is changing into more and more well-liked, not least as a result of English is one of its official languages.
A fast flight to Valletta, Malta’s capital, takes simply over three hours from London, and even in November, temperatures can attain a balmy 21C.
This was half of the appeal for Louise Burley, 46, who relocated from Wakefield, West Yorkshire, with her husband Kevin, 70, to the village of Ta’ Xbiex.
Louise instructed The Times that many points of life on the island really feel acquainted. She mentioned: “They drive on the same side of the road, there are red postboxes, HSBCs on the corner and they have Marks & Spencer.”
“I don’t think we could have coped much longer. We were getting … squeezed every day, taxed on everything. We have a couple of houses we rent out and there is hardly any point in keeping those.”
In addition to the climate, the tax system is one other draw for potential expats.
“Malta’s tax residency scheme offers a preferential 15% tax rate on foreign income remitted to the country.
Income from overseas assets is tax-free, and there are no inheritance, wealth or estate taxes. The visa also includes access to statutory healthcare.
Jamie Favell, from the Tax Advisory Partnership specializing in cross-border tax planning, suggests that Malta’s status as a former British colony with similar tax laws makes the system “simple”.
This has led many British expats to choose Malta over popular destinations like Dubai, Italy, and Portugal.
Malta was part of the British empire from 1814 after Britain helped liberate it from Napoleon, until it gained independence in September 1964
The late Queen resided on the outskirts of Valletta for two years before her ascension to the throne when Prince Philip was stationed there by the Royal Navy.
With Maltese and English as the country’s two official languages, it’s easy for expats to adapt.
Bradley Thurston decided to permanently move to the Maltese area of Xemxija earlier this year when faced with a hefty bill to renew his wife’s British visa.
The 54 year old told The Times: “She is placing her wage within the bank and we live off mine.
“It’s a no brainer. We will never come back. The only thing I miss is the football.”
