In my last blog post I was writing about the Global Residence Programme. The main reason that it was on my mind was because I had been discussing the system with a potential applicant.
The fellow had flown in from Australia to meet me (and other lawyers, I presume) and see for himself whether the scheme is viable and attractive for him. The short answer is that, yes, it probably is.
What was interesting to me was that though he is wealthy, he had booked himself into a three star hotel in Sliema. I always presumed that these people traveled in five star luxury, but apparently not.
The hotel he chose was the Sliema Marina. I have to say that it was quite nice and probably good value for money. It is a busy area, but the views of Valletta and Manoel Island were excellent. He was certainly very pleased with it, which is the main thing!
In a previous post was about the way that Malta has been able to bring new opportunities by attracting wealthy companies to register their assets here.
An extension to that idea is simply letting people come and join us in Malta, rather than simply accepting their assets. In this regard, the former PN government introduced a residency scheme – called the Global Residence Programme which you can read about here.
The plan enables wealthy people to relocate to Malta and establish a permanent residence. If they wish to be resident in the EU (there are many benefits) or pay lower rates of tax (a very attractive benefit to some people) then the idea has merit. Of course, simply moving to Malta is not for everyone, but once inside the EU and Schengen Area, the world is your oyster.
(Just to confirm, I do not work for the firm linked to above. I do not wish to link to my own company site in case it – and my blogging – could cause me problems at work.)
In my first real post yesterday (here)(we’ll see how good I am at posting regularly…) I wrote about my love of combining law, business and travel.
Another area where this comes into play is also relevant to Malta and is that of importation of goods. As a small country with very limited natural resources, most things need to be imported. Without them, the economy would simply grind to a halt – and everyone would starve, as was proved during the second world war when supplies into the country were very restricted.
There are now a wide range of general and specialist import / export firms that handle the movement of everything we need into the country and then send out our few exports. One firm that I am familiar with – because of my work – is Tubeline who are involved in all the activities mentioned above, especially air freight.
As I said, I know the people at the firm quite well and they have always seemed like a very honest, reliable and efficient company. I would expect them to do a good job for anyone.
As my first proper post on the blog, it seems realistic to out myself: I love the law, travel and business. I try to spend as much of my life doing one or more of those things and plan to continue to do so, long into the future.
If I have the opportunity to do all three, I am in heaven. Luckily for me, that happens quite a bit.
You see the law part – I work for a law firm. The business part – I am involved in business development and doing deals with clients. The travel part – I live on the tiny island of Malta and most of our clients are based elsewhere, so I often go and meet them.
Therefore, for me, work = great fun!
I have found a couple of areas that I particularly like. They relate to the registration of assets (it sounds boring) such as jets and yachts. On several occasions clients have invited me on board to see the “asset” that we were working for. Mainly they invited me out of pride, but I’ll take it.
Malta has a thriving sector for registering both aircraft and yachts. (I’d rather not compromise my own position, so those links go to other people’s websites).
The photo on the left was taken on a super yacht that is almost permanently moored here in Malta (off the Three Cities / Birgu). As I am sure you can see, there is something quite appealing to a champagne reception on a super yacht in the Mediterranean. It just doesn’t get old!
By complete luck, the web address of one of my favourite songs was available when I was looking for a potential domain name. That’s right, The Fallen, by Franz Ferdinand from 2006.
This blog is just going to be things I like and want to write about, so it won’t be related to music, just named that way. Here are the boys singing The Fallen: