Paul’s Island, and Cominotto.)įilfla was used for target practice by the British navy, so it is probably even smaller than it used to be. (In case you’re wondering, they’re called Filfla, St. Not surprisingly, the names of the islets mean nothing to most people, as they are little more than rocks in the ocean. Here's what the generation is up against if the coronavirus triggers another recession.The Republic of Malta isn’t a solitary island, but an archipelago of three islands and three islets. Inside the epicenter of America's Great Resignation: Kentuckians lay out the 4 forces driving the state's labor shortage - and explain why it's here to stay Millennial New Yorkers are ditching basements and roommates for luxury apartments at $1,000-plus discounts The world's youngest self-made billionaire hopes to power every future self-driving car with a technology that Elon Musk says is 'doomed' Tiffany and the Trumps: Insiders describe how the president's younger daughter has charted what they say is a distant relationship with her father and come to terms with having America's most divisive last name Inside the French Riviera's pandemic party problem Yachting insiders detail the rampant sexual harassment aboard million-dollar ships, where crew members are promised a glamorous lifestyle and can instead find themselves trapped at sea with no one to turn to Millennials came limping out of the Great Recession with massive student debt and crippled finances. Basically, she's written about money from every angle you can imagine. She also reports on consumer spending and New York City's economy, and previously wrote about the ultrarich and personal finance at Insider before joining its economy team. She covers trends in how these generations are living and spending and examines how the economy is shaping them and their financial behaviors. Hillary focuses on the intersection of youth culture and wealth, reporting on the lifestyles and economics of millennials and Gen Z. Armand Arton, the president of Arton Capital, previously told Business Insider that investors primarily seek increased global mobility, better security and education, diversified business opportunities and tax-planning strategies, and an improved quality of life. 'I call it the black American Express syndrome.'īeyond status, there are also physical advantages to owning more than one passport. 'It's a status symbol - it shows friends you can afford it,' Katz said. Once they have citizenship, they then have the basic rights of any other citizen of that country - like owning a passport, Katz said.īut a second passport buys more than a travel document - it also buys them status. Malta's program is a citizenship-by-investment program (CIPS), in which wealthy people invest in a country in exchange for citizenship. Unless a property is in a designated development or purchased through a trading company, foreign buyers are allowed to own only one property, Bloomfield wrote. Alan Grima, the CEO of Dhalia Real Estate Services, told Bloomfield that 60% of foreign buyers are from the EU, including workers of international companies who've opened offices in Malta.īuyers closing on property in Malta must first sign a 'konvenju' (promise of sale) with a 10% deposit and a 5% buying tax, and can expect the sale to close within three to six months, according to Bloomfield. Malta's great weather, lack of a language barrier, and laid-back lifestyle hold a lot of appeal for foreign buyers, but there are greater advantages at play.

A four-bedroom estate in the northern part of the island, Bloomfield wrote, is going for $4.7 million. The island is drawing in overseas buyers, who are paying anywhere from $247,000 for a two-bedroom apartment on the south coast to $505,000 for a two-bedroom apartment on the Golden Mile along the northeastern coast (the most popular location for overseas buyers). Asking prices have increased by more than 10% in the past year, she wrote, citing Knight Frank's latest Global House Price Index. Thanks to a robust economy and government incentives to foreign buyers and businesses, the Mediterranean island's property market is one of the world's strongest, Ruth Bloomfield for The Wall Street Journal reported. Account icon An icon in the shape of a person's head and shoulders.

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