Malta is offering digital nomads the possibility to take up Malta residence for a period of 6 up to 12 months.
Digital nomads are best defined as individuals who choose to embrace a location-independent, technology-enabled lifestyle that allows them to travel and work remotely, anywhere in the world. According to research conducted by MBO Partners in 2020, there are as many as 4.8 million independent workers that label themselves as digital nomads, with one in six earning more than €60,000 annually.
Malta sees this digital nomad residence permit as an opportunity to attract to the island these tech-savvy newcomers who will be able to live in Malta whilst working elsewhere on the globe. This will help the local economy through consumption.
Qualifying applicants will get a six-month visa with the option of extending this to 12-months if they wish.
The cost for the Malta Digital Nomad Residence will be €300 and to qualify under the scheme, applicants need to show that they are engaged or under contract, working for a company from abroad or otherwise produce proof that they have their own business offering freelance services to companies or clients abroad.
Malta’s Digital Nomad Residence Permit scheme will kick off in June and applicants can apply online. All applications will go through the usual due diligence checks such as verifying that they are of good standing and part of this will be a police clearance and conduct check. Additionally, all applicants need to have valid passports and have bona fide proof that they are living in an actual residential property in Malta.
Malta has a very interesting tax regime for digital nomads, where foreign income is not taxed if it’s not remitted to the country itself. They will only be taxed locally on income earned for work done for Maltese companies, if any.
Applicants will be expected to take out additional medical insurance to enable them to access any healthcare services in Malta.
Digital Nomads who take up the residence permit can choose to rent any property they deem best fit, with no minimum monthly restrictions. This is where Frank Salt Real Estate can help, having one of the largest teams of letting professionals on the island and an extensive list of rental properties to choose from. Our letting consultants will be able to accompany you to view a selection of properties. From studio apartments to luxury villas, we assure all our clients that property hunting will no longer be a waste of time.
What’s more is that here at Frank Salt Real Estate, we are giving successful Digital Nomad Residence applicants 25% discount on their rental agency fee. Contact us for more details.