Investors eye ‘magic malta'

Buoyed by a growing tourism and an ever-increasing number of low-budget airlines, Malta is an increasingly attractive investment proposition...

EasyJet has announced that it will be increasing its routes from April by including direct flights from Newcastle twice a week.

Ryanair has also announced two new twice weekly routes to Malta from Edinburgh and Bristol. Flights from Edinburgh start on 31 March and run every Tuesday and Saturday. Flights from Bristol will operate on Wednesdays and Sundays and will start on 5 July.

Scandinavian Airlines (SAS) is also launching a nonstop route from Stockholm-Arlanda airport to Malta starting in April 2009.

Strategically placed

James Vassallo senior sales manager at Malta-based estate agent Tigne Point says: "The increased air traffic is certainly good for the island especially in these trying times.

"Malta is strategically placed between the west and east and the growing importance of north Africa. It appeals to businesses looking to relocate to the Med and over the years business travel has constantly grown".

An additional advantage to owning property in Malta is the fact that the country offers average earners a genuine opportunity to cut their tax bill.

Malta charges no capital gains tax on property sales after three years of ownership, while residents are able to take advantage of The Maltese Residence Scheme, which charges a flat income tax rate of 15%, subject to a minimum tax liability of £3,000.

Source: www.homesoverseas.co.uk