As more South Africans seek stability and new opportunities abroad, Malta has become an increasingly attractive destination for both high net worth families and businesses seeking expansion.
That’s according to recent data from Credence, a Malta-based corporate services and advisory firm that can assist those interested in acquiring permanent residence in Malta or Maltese citizenship through direct investment.
For individuals and their families, this trend is driven by several factors. These include SA’s volatile economic and political climate, the desire for a secure future, and the fact that Malta is one of the safest countries in the world. Anyone can walk home at any time and people still leave homes and cars unlocked.
Malta offers the sixth most powerful passport globally, with visa free access to over 170 countries, including the US and Canada
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 also offers the sixth most powerful passport globally, with visa-free access to over 170 countries, including the US and Canada. Malta’s residence programmes allow the applicant and their family to live in Malta permanently and provides visa-free travel across the EU for 90 days in each 180-day period.
The country also offers a popular tax-based non-dom residence programme.
For companies, Malta’s position in the heart of the Mediterranean and status as a full EU member state means it provides access to the EU’s expansive market, while maintaining a tax-efficient environment that appeals to both entrepreneurs and large corporations alike.
Lawyer James Muscat Azzopardi, a director at Credence, has advised a significant number of South African businesses on either relocating to Malta or establishing an additional presence there.
“Malta presents a unique opportunity for South African businesses to access the European market without necessarily uprooting their operations completely from home,” he says. “Many clients retain their South African company for income deriving from SA, but set up a Malta presence for expansion, especially into the European market.
“In recent years, a significant number of South Africans have moved their companies from Mauritius to Malta due to a Mauritius presence raising red flags with European and American banks and counterparties.”
As more South African businesses seek to establish a foothold in the EU, sectors such as finance, technology and real estate are experiencing notable growth. Credence reports a rise in enquiries from companies interested in leveraging Malta’s business-friendly regulations and extensive network of trade agreements.
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, the country provides businesses with favourable tax rates within a transparent regulatory framework, which is not always offered by its EU counterparts.
“Malta’s strategic location and ease of doing business have proven critical for many of our South African clients,” says Muscat Azzopardi. “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.”
Despite Malta’s appeal, many South Africans remain unfamiliar with the intricacies of setting up a business or acquiring residency there. Credence says common misconceptions include the belief that relocating or expanding to Malta means necessarily cutting ties with SA entirely.
In reality, Credence says many of its clients maintain strong ties with SA, expanding their global presence, while securing their financial futures in Malta. The firm has helped numerous South African companies navigate Malta’s legal and regulatory landscape, enabling them to operate across both markets seamlessly.
As SA’s economic challenges persist, the trend of seeking security and stability abroad is expected to grow. Malta’s flexible residency and citizenship programmes continue to make it a top destination for those looking to access the EU’s vast economic opportunities.
With 20 years of experience, Credence offers tailored solutions for South Africans, helping them to navigate the transition to Malta smoothly and successfully.
For more information on Credence, visit the firm’s website.
Attend Credence’s exclusive event in Cape Town
The Credence team is hosting an event titled Explore Malta: Your Gateway to Global Market Access in Cape Town on November 28.
Attending this event is a must for anyone interested in finding out more about the residency, citizenship and business expansion options this Mediterranean island presents. Space is limited, so register now to ensure a spot.
This article was sponsored by Credence.
