Malta is emerging as a popular destination for British expats, drawn by its warm climate, low taxes, and familiar British touches like red postboxes and Marks & Spencer stores. According to a report in The Times, the island nation offers attractive non-dom-style tax breaks, including a 15% rate on income remitted to Malta and no capital gains tax.
One British resident cited the familiarity of driving on the same side of the road, HSBC banks, and Marks & Spencer as appealing factors. However, the influx of wealthy foreigners has sparked local resentment, with Maltese residents complaining that they can no longer afford homes due to rising prices driven by foreign demand.
The Times of Malta has called for a radical tax overhaul to end preferential treatment for economic migrants, stating that such individuals “live here and use all our infrastructure but contribute almost nothing, flash their money around and irritate the local Maltese.” Critics argue that these tax breaks create a two-tier society that benefits wealthy foreigners at the expense of locals.
