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Finance Front Page Story

The Jewel of the Med


Malta, nestled in the heart of the Mediterranean Sea boasts a rich history, stunning natural landscapes, and a thriving economy. At the crossroads of Europe, Africa, and the Middle East, its strategic location has long made it a coveted territory. Its history is a tapestry woven with influences from Phoenicians, Romans, Arabs, and Europeans, resulting in a diverse culture and architectural heritage that spans millennia. From ancient temples older than the pyramids of Egypt to medieval fortifications and Baroque palaces, Malta’s historic sites provide a glimpse into its storied past.

In recent years, Malta has gained recognition not only for its historical significance but also for its economic prowess. As a member of the European Union (EU) since 2004 and the Eurozone since 2008, Malta offers investors access to one of the world’s largest single markets and a stable economic environment. The country’s robust financial services sector, thriving tourism industry, and burgeoning technology sector have fuelled steady economic growth and attracted foreign investment. Malta’s attraction is further enhanced through its status as one of the very few English-speaking countries in the EU.

Jonathan Cardona’s return to the helm of the Residency Malta Agency marks a significant milestone for the Government entity which is responsible for managing and promoting three residency programmes for non-EU nationals.

“As an experienced leader with a proven track record of success, Jonathan Cardona’s appointment promises to usher in a new era of innovation and growth at the agency.”

Via the Malta Permanent Residence Programme, the Nomad Residence Permit and the Malta Startup Residence Programme third-country nationals can enjoy temporary or permanent residency in a safe and stable jurisdiction replete with business opportunities, access to education and health care that is held in high esteem. To ensure only fit-and-proper individuals and families are granted residency, all applications undergo a rigorous due diligence process.

Malta financeAs an experienced leader with a proven track record of success, Jonathan Cardona’s appointment promises to usher in a new era of innovation and growth at the agency.

He brings a wealth of knowledge and expertise to his role as CEO, his previous tenure at the agency having seen the successful implementation of several initiatives aimed at attracting high-net-worth individuals and investors to Malta, contributing to the country’s economic development and global reputation.

Since he took over in December 2023, Cardona has overseen the introduction a series of measures designed to optimise the processing of applications, which have increased significantly given the advantages Malta affords over other countries’ programmes.

The agency collaborates closely with government authorities and other stakeholders to ensure compliance with regulations and expedite the application process. Its team of experienced professionals possesses in-depth knowledge of Maltese immigration laws and policies, enabling them to provide accurate information and expert advice to prospective residents.

By offering a range of residency and citizenship options and delivering exceptional service standards, Residency Malta Agency plays a pivotal role in attracting foreign investment, talent, and expertise to Malta, contributing to the country’s economic growth and prosperity.Top of Form

As the world grapples with economic uncertainty and geopolitical instability, demand for alternative residency options is on the rise. Malta, with its stable economy, strategic location, and attractive lifestyle, is well-positioned to capitalise on this trend.

Independent affirmation of Malta’s potential for further growth and economic resilience is not hard to find. Fitch Ratings, for example, gives the country an A+ credit rating and stable outlook, with growth of 4.1% anticipated for 2024 and 3.7% for 2025, alongside unemployment of just 2.8%. Moreover, GDP for 2023 rose by 5.6% on the back of a booming tourism sector.