The Nomad Residency
Although there are already some 1,000 digital nomads in Malta, most of whom are EU citizens, the Maltese Government introduced a new scheme aimed at attracting 3rd country individuals to take up residency to reside and work remotely in Malta whilst retaining their employment overseas.
This new work status called “working remotely” was mainly established worldwide with the 2020 pandemic that revolutionized the working sector around the world by bringing companies to adapt to the concept of remote working – working from outside the place of work. The Malta Nomad residency permit is valid for one year and can be renewed upon application online. Applicants have to prove employment with a foreign employer or overseas business with a minimum yearly income of €36,000 and hold a valid health insurance cover.
The High Net Worth Individual Programme
The High Net worth Programme was introduced to attract highly qualified persons to occupy “eligible office” in Malta and benefit from residency and a special tax status on all income generated in or brought into the country. The “eligible office” has to be with companies licensed or recognized by a relevant competent Authority in Malta
Applicants must prove minimum yearly earnings of €85,000 and employment with one of the following Authorities:
(i) Malta Financial Services Authority – MFSA
(ii) Malta Gaming Authority – MGA
(iii) Or with undertakings holding an air operators’ certificate issued by Transport Malta -TM
There is no minimum property threshold, and applicants have the option to purchase or rent a property and hold the property for a minimum period of 1 year. The tax benefit is that all income up to the maximum ceiling of €500,000 cap was taxed at a flat rate of 15 % with no tax payable on any excess income.
Links
Malta Property Buying Process – Fees & Taxes here
View Luxury Properties For Rent in Sliema/St.Julians here
View Lifestyle (SDA) Properties For Rent here
View Villas and Properties with pool For Rent here
View Lifestyle (SDA) Properties For Sale here
View Villas and Properties with pool For Sale here
Need help with Residency Application or Looking for a specific property contact us here
