Bank customers can take out a Home Loan for up to 90% of the purchase price and/or completion costs.

The banks offer their clients competitive interest rates and the loan is paid back to the bank monthly in affordable amounts according to one’s gross income. The bank also offers flexible loan repayment terms of up to 40 years as long as the loan is repaid by the time the client reaches 65 years of age.

In turn, even the best bank asks that the property itself is offered as security and a life assurance policy for the full value of the loan is required. An insurance policy to cover the replacement value of the property is also required.

Some banks offer first time buyers advantageous interest rates, presently at 1% over the bank’s base rate, for loans of up to €120,000 and 1.1% for loans between €120,000 and €150,000. They also waive any processing fees and charge 50% of the bank’s legal fees. Clients of Home Loans can also take out an additional loan to purchase furniture and appliances.

You can actually see how much the bank is prepared to lend you for a Home Loan by going into a bank’s website and using their affordability home loan calculator. After you have decided to borrow a certain amount to purchase your next property, the bank usually takes around 48 hours to take a decision of whether to lend you the money or not. Buying a property is definitely easier when you take out a Home Loan.

Your year of birth is the deciding factor at which age you can start to draw your State Pension. If you were born in or before 1951, you can take your State Pension at 60 if you’re female and 61 if you’re male. If you were born between 1952 and 1955, you can collect a State Pension at 62 as long as you have paid enough National Insurance Contributions and you have actually stopped working. For those born between 1956 and 1958 inclusive, the retirement age rises to 63, as long as eligibility conditions are met, and for people born between 1959 and 1961 (inclusive), the age rises to 64. Anyone born in 1962 or later will only be able to retire and draw the State Pension after their 65th Birthday.

Many people like to retire much earlier than their State Retirement Age, and some people manage to do it by ensuring they have sufficient money to bridge the gap between stopping work and receiving the State Pension.

For more information about State Pensions in Malta, contact:

Ministry for Social Policy
Palazzo Ferreria, 310 Republic Street
Valletta CMR 02, MALTA

Social Policy Information Centre
Telephone: (+356) 2590 3100
Fax: (+356) 2590 3121
E-mail: pensions@gov.mt

Setting up a company in Malta is relatively straightforward, and company formation is regulated by the Malta Financial Services Authority (MFSA) and forming a company can take as little as 48 hours.

Malta is a tax efficient location for companies and with costs of company formation being relatively low, Malta is an attractive option when looking at starting up a business. Companies and commercial partnerships are formed under the Companies Act.

The first step when setting up a company is to decide on its legal structure. These are the three main types of business in Malta.

The owner of the business and one or more partners can form a partnership en nom collectif for the exercise of one or more acts of trade. Its members do not benefit from limited liability because the obligations of the partnership are guaranteed by the unlimited joint and several liability of all the partners.

The partnership en commandite has a separate legal identity and has two types of partners:

• the general partners, who assume unlimited responsibility for the partnership;
• the limited partners, whose liability is limited to the amount left unpaid on their contribution.

The partners enter into a deed of partnership which contains the essential terms and conditions of the partnership’s operation. The deed is signed by the founding partners and this is then submitted to the Registrar of Companies.

The limited liability company is the most popular form of business structure and this type of company has two important features:

• Limitation of liability of its members to the amount left unpaid on its shares;
• Creation of a distinct, separate legal entity from that of its members.

The original members of a limited liability company have to sign a memorandum of association which is then submitted to the Registrar of Companies for verification of compliance prior to registration.

Members must also register with the Department of social Security and the company must be registered for VAT. There are several organisations in Malta than can help with company formation. The largest and best-known is Malta Enterprise.

Malta Enterprise
Industrial Estate
San Gwann SGN 3000
MALTA
Tel: (+356) 25420000
Fax: (+356) 25423401

€142.67 for employees aged under 17 years,
€145.51 for employees aged 17 years,
€152.29 for employees aged 18 years and over.

Increases in minimum wage levels are linked to the cost of living and inflation rates of the preceding twelve months and minimum wage levels are adjusted on an annual basis.

The minimum wage is based on an eight hour working day.

The majority of countries in the EU apply minimum wage levels to salaries and earnings. Malta’s (at just under €660 per calendar month) is higher than approximate levels found in Spain (€633), Portugal (€475), Slovakia (€307) and Montenegro (just €55). However, in Greece (€740) and Cyprus (€840), close neighbours to Malta, the rate is slightly higher. In other northern European countries, the National minimum wage is considerably higher, at over €1000 per month in Luxembourg (€1682), Ireland (€1500), Belgium (€1440), The Netherlands (€1398), France (€1337 for a seven hour working-day) and Austria (€1000). Italy and Germany amongst others, don’t set a National minimum wage – instead wage levels are set by collective bargaining and differ from industry to industry and by job function

On 22nd March 2010, Dr Lawrence Gonzi, The Prime Minister of Malta, stated that the minimum wage ranked the best in the EU when compared to the country’s average wage. This could indicate that Malta’s average wage is close to the level of the minimum wage.

For more information about the minimum wage in Malta, and about other working conditions, contact the Ministry of Education, Employment and The Family:

Ministry of Education, Employment and the Family (MEEF)
Palazzo Ferreria
310 Republic Street
Valletta VLT 2000
Malta

Tel: (+356) 2590 3100
Fax: (+356) 2590 3121

International Companies such as Uniblue and GFI have their global headquarters in Malta, and manage operations from their Malta-based offices. Uniblue’s offices were purpose built in 2008 and are modern, light and airy, with plenty of room for further expansion. Both Uniblue and GFI are growing companies and often, they advertise vacancies in Malta and overseas. These companies have a wide range of vacancies including roles in marketing, sales, design and technical writing. There are a number of Maltese-owned IT consultancies that conduct work for clients overseas, in the UK and the rest of Europe. 6PM and Crimsonwing are just two who often send Malta-based IT executives on assignment abroad.

The other rapidly growing sector is the iGaming industry. Companies such as Betsson and Betfair relocated to Malta from Northern Europe. Most online gaming companies have their offices in the Gzira/Sliema area, and employ both Maltese and foreigners. Some of the roles at these companies are very specialized and require an in depth knowledge of betting and sports. Languages are another useful asset, as roles in their customer support teams are multi-lingual, due to their global audience.

Most vacancies in the IT industry are advertised in The Times of Malta and The Sunday Times classified section. There are also recruitment consultancies in Malta that specialize in the IT sector, such as Castille Resources, Misco, Pentasia and Reed.

Over the past few years Malta has successfully established itself as a leading well regulated European remote gaming jurisdiction and is estimated to host around 13% of the world’s online gaming companies.

The Government of Malta had carried out a complete revision and consolidation of the gaming legislation, and a new all-encompassing gaming law was enacted by the Maltese Parliament in virtue of which the Malta Lotteries and Gaming Authority (LGA) has been set up.

Online casino games started being seen on the internet in the early 1990s, and one of the big changes between land-based casinos and online internet casinos is that a player can play from their home, office or mobile device such as your mobile phone or game station. When you want to play online, you can simply create an account with the casino that you like, which normally takes less than 2 minutes, and is usually very simple and quick. As a player you then get access to different types of games including slots, video slots, video poker, roulette and blackjack, although many more game types are now available too.

Blackjack, for example, is the most popular and one of the easiest casino games. It’s really simple to learn the rules and play online. Next on the list of favorites is slots and video slots. Casino slot games have 3 reels or 5 reels and the game types range from the classic slots, to multi level role playing 3d fantasy games. You can win really big jackpots on casino sites, so check out the progressive jackpot amounts, that grow the more everyone plays them!

Moving onto online roulette, it’s really easy to play too. The roulette wheel when played online has 37 to 38 slots and various numerical sections ranging from 1 – 38. To play, just put a bet or bets on the numbers that you think the ball will land on, if the ball lands on your number, you’re a winner! If you want to read more about some of the best online casino’s check out europeancasinobonus.com.

Visas for Malta must be obtained prior to entry, and can be issued at a Maltese diplomatic mission abroad, at the representative mission of another EU member state, or, if no overseas representation is based in the home-country of the person wishing to travel, by contacting the Immigration Police Headquarters in Floriana prior to purchasing travel tickets.

Visitors to Malta (except members of the EEA and Switzerland) must be in possession of return or onward tickets, all necessary documents and applicable visas required for their next port of call. Travellers should also have sufficient money available for self-maintenance during the period of their stay.

Malta became a member state of the EU in May 2004, so nationals with passports issued by EU countries do not need a Visa to visit Malta. In late 2007, Malta entered into the borderless Schengen area which includes Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden and Switzerland. The Schengen area also includes the non-EU states of Norway and Iceland. All these countries can issue a standard Schengen visa to non-EU nationals and this has a multiple entry option that allows the holder to travel freely within the borders of all member countries. The Schengen area does not include the EU countries of Bulgaria, Cyprus, Ireland, Romania and the United Kingdom.

EU citizens can live and work in Malta, however, a work permit has to be secured prior to an EU national starting employment. The Maltese authorities issue the work permit in Malta against a small payment usually paid by the employer.

At present, citizens of the United States, Canada, Australia and New Zealand require a passport, but no visa, for a stay of up to three months as a tourist. South African citizens require a Schengen visa in addition to a valid passport.

For travellers from countries outside the EU, information about visa requirements should be checked prior to travel to Malta. If you are in any doubt whatsoever, details can be checked with the Immigration Police, Police Headquarters, Floriana, Republic of Malta.

Tel (+356) 21 224001-7
Fax (+356) 21 247777

In 1996 an electronic trading system was implemented along with a trading, clearing, settlement and registration system.

Two years later, daily trading was introduced and in 2000, an Alternative Companies List was set up.

In 2001, the Malta Stock Exchange moved to new premises at Garrison Chapel, Castille Place, Valletta, near to the Office of the Prime Minister. This coincided with the end of the “trading floor” which was replaced by a remote trading system.

In 2006, MaltaClear was set up as a DVP and Settlement system and the MSE signed the EU Code of Conduct on Clearing and Settlement. During the same year, off-market trading was introduced and the following year, there was a major technical upgrade to the trading system. Also during 2007, amendments to the Financial Market Act and the launch of the Treasury Bill Market preceded a corporate restructure to reflect the growth of the organisation over recent years. In 2008, Malta changed over from the Maltese Lira as the unit of currency to the Euro and became a member of TARGET2.

Companies trading on the Malta Stock Exchange include Go, Bank of Valletta, 6pm, RS2, HSBC and Global Capital.

International affiliations include membership of FESE, ECSDA, IOSCO, WFE, ECGI and ECMI. In addition, MSE is Malta’s National Numbering Agency, appointed by the Malta Financial Services Authority (MFSA). Because of this, Malta Stock Exchange issues International Securities Identification Numbers (ISINs) to financial instruments registered in Malta.

Registered Address: Garrison Chapel, Castille Place, Valletta VLT 1063, Malta
Telephone: (+356) 21244051
Fax: (+356) 25696316

Both apartments have been recently built and are fully furnished as you can imagine, since my friends are still living in them. The two bedroom apartment is situated just off the main Tourists Street in Bugibba and the three bedroom apartment is located in a quiet area in Mellieha, yet still very close to the centre of the village too.

These locations are two of the most popular touristic areas in Malta, host to the largest sandy beaches and packed with restaurants, bars, shops and other entertainment facilities, including a cinema in Bugibba, casino, etc. These Malta apartments are ideal for small families as well as expats moving to the Maltese Islands.

3 Bedroom Apartment for Sale in Malta (Mellieha) – €160,000

A freehold first floor flat, serviced by a lift. This three bedroom apartment consists of a kitchen/dining area, bathroom, main bedroom has a shower ensuite and include ownership of half the roof. Being sold fully furnished, it includes two 42″ LCD TVs, skirting throughout and pine doors too. Contact owner directly by phone on (+356) 99872941 or 21521544 or email for more photos, details or to arrange viewing.

2 Bedroom Apartment for Sale in Malta (Bugibba) – €92,000

This two bedroom apartment is located on the highest floor (3rd) in a peaceful residential complex. All floors are serviced with a lift. It consists of an open-plan spacious kitchen/dining and living area, a bathroom equipped with automatic washing machine, a fully air-conditioned main bedroom with an ensuite shower and a balcony overlooking the main street. This property is being sold fully furnished and includes a 36″ flatscreen TV with satellite reception, designer dining and coffee table as well as Natuzzi six seater corner sofa. A one car garage, situated next to the apartment, is available for rent or sale too. For more details contact owner by phone on (+356) 99888400.

If you’re interested to know more about the above apartments for sale in Malta, feel free to leave a comment below or contact the owners directly.

The Super 5 draw is held every Wednesday unless it’s a Public Holiday in Malta, in which case the draw take place on the day before. At 7.10pm, the five winning numbers are drawn in the presence of a representative of the Malta Lotteries and Gaming Authority, a Notary, members of the public, and representatives of Maltco Lotteries Limited. The draw is transmitted live on Maltese television and can be found on NET and ONE Channels.

The Super 5 results Malta (winning numbers) are also featured in the Maltese and English language national newspapers as well on the Maltco and newspaper websites, outside Maltco Lotteries outlets, via SMS from the mobile networks and on teletext.

Results: 18th April 2012 – 3, 6, 9, 33 & 41 (2 winners with 5 nos)
Next Draw: 25th April 2012 – Jackpot of over €120,000

To play, a 5 number selection is either chosen by the player, by marking a pre-printed ticket with black or blue pen to select the numbers, or alternatively, the numbers are generated randomly by the terminal at the Maltco Lotteries outlet. Each set of 5 numbers costs €1.50. Players can have as many sets as they wish. There are Maltco Lotteries outlets in every main locality throughout Malta.

To win a cash prize, the player must match at least three of the selected numbers in one set to the 5 numbers drawn. Prizes for 3 matching numbers are a minimum of €25.00 per ticket. For 4 and 5 matching numbers, there is no upper limit, and the winning amount depends on the size of the jackpot and the number of players with matching tickets. The record prize for matching 5 numbers on Super 5 was in December 2007, when it stood at €1.3 million.

The printed ticket is required to claim a prize. Prizes up to €5,000 are payable at a Maltco Lotteries outlet. However prizes over €5,000 are only payable at the Maltco Lotteries Limited Head Office, Hal Mann Buildings, 2nd Floor, Saint Michael Street, Iklin.

Prizes can be claimed up to 30 days from the draw date.