The digital nomad lifestyle is attracting the interest of more and more people each year. Based predominantly on being location-independent, digital nomads perform work without being physically present at company offices and are often found working remotely in coffee shops, public co-working spaces and everywhere and anywhere that may create the right atmosphere for them to work in.
With its invitingly sunny weather, strong presence of the English language and quality business support systems focused on start-ups and entrepreneurs, Malta is continuously establishing itself as one of the more interesting countries for digital nomads.
The country already hosts digital nomads coming from the EU, but a recently launched Digital Nomad Residency scheme has just made it easier for third-country nationals to temporarily live in Malta without having to apply for a standard residency Visa.
What is the Malta Nomad Residence Permit?
Malta is now offering non-EU digital nomads the opportunity to maintain their current employment-based in another country whilst legally residing in Malta. Qualifying applicants will get a 6-month visa with the option of extending this to 12 months if they wish to do so.
Applying for the Malta Digital Nomad Residence Permit
Non-EU digital nomads looking to seek residence in Malta for up to a year may apply for the Digital Nomad Visa once they ensure that they meet the following requirements:
- Possess valid travel documents
- Bestow proof of property rental or purchase agreements
- Reach a monthly income threshold of €2,700
- Bestow proof of income
- Pay an administration fee of €300
- Possess health insurance covering risks in Malta
- Bestow proof of employment and current work agreements outside of Malta
Once approved, the Residency permit is issued and can be renewed upon application at the discretion of Residency Malta, as long as the applicant still meets the set eligibility criteria.
Taxation for Digital Nomads
Malta offers a generative tax regime for digital nomads. Foreign income is not taxed if it’s not remitted to the country itself. Moreover, digital nomads will only be taxed locally on income earned for work done for Maltese companies, if applicable.
Where We Come In
Firstbridge is happy to offer guidance with applying for the Digital Nomad Scheme and maximising its benefits to boost digital nomad entrepreneurs’ business success.
Contact Firstbridge to set up a consultation at [email protected]
© Firstbridge 2019