Malta: Small Nation, Mighty Economy

Although Malta may have the smallest economy of any European Union nation, that doesn’t mean it’s not mighty. Sometimes good things come in small packages.

The International Monetary Fund classifies Malta’s highly industrialized and service-based economy as advanced. Malta is also a member of the European Union and the Eurozone, having formally adopted the euro in January of 2008. With an open market economy, and a predominantly English-speaking population, Malta has well developed finance, ICT, and increasingly, emerging financial technologies industries.

Malta enjoys a strategic location—at a cross-roads between Europe, North Africa, and the Middle East—in the middle of the Mediterranean Sea. And with excellent transportation links, travelling to and from Malta is incredibly easy and efficient.

As an island nation, the economy is highly dependent on trade as well as tourism. With a GDP per capita of $29,200 Malta ranks 15th out of 28 EU countries in terms of purchasing power standard. And at just 5.9%, Malta also enjoys one of the lowest unemployment rates in all of the EU.

Malta’s Individual Investment Program (IIP) was the first program of its kind to be recognized by the European Commission. That recognition has paved the way for a successful program that is not just beneficial for investors, but for the country as a whole. By attracting high-quality investors, Malta has benefitted far beyond just economic gains. Many of the individuals who have turned their attention to this small Mediterranean nation have used their considerable intellect to develop new strategies and solve long-standing challenges.

A prime example of this kind of progressive thinking is the world of Fintech and more specifically, cryptocurrency. In a time when most other governments are shying away from this burgeoning sector, Malta has been embracing the growth in cryptocurrency and blockchain technology. This is largely the result of Prime Minister Joseph Muscat, who is widely quoted saying cryptocurrencies represent “the inevitable future of money”.

Whether you’re interested in emerging technologies or more traditional business opportunities, Malta offers a variety of attractive benefits for potential investors.

For more information on what it takes to gain Maltese citizenship, get in touch with us today for a free consultation.