Bloomberg – When money manager Simone Chelini left his Milan job last year to seek a hedge fund-friendly country, he rejected some obvious locations. “Luxembourg? Grey, flights are expensive. Ireland? Always rains.”
Instead, Chelini and his colleague Pietropaolo Rinaldi followed scores of Italians who’ve moved to Malta, lured by lower taxes, less bureaucracy and a Mediterranean climate. The number of Italian residents in Malta rose 30 percent in the five years through 2009 to 1,539. That doesn’t count temporary workers on the island, located about 80 kilometers (51 miles) from Sicily, or Italians without resident registrations.
