How to Move to Malta
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00:00 Intro
01:00 Where is Malta
Malta is an island nation in Southern Europe on the Mediterranean. Since Malta has a very strategic location on the Mediterranean, it was conquered by many empires throughout the centuries. Among those are the French and more recently the British. As a matter of fact Malta is one of the youngest countries in Western Europe, having gained independence from the British Empire just in 1964. In 1974 it became a republic.
Today, Malta is a full European Union member (and the smallest state in the EU). It joined the bloc in 2004 together with Cyprus, Slovakia, Slovenia and some other countries in Central Europe.
It is also a member of the Schengen area and the eurozone (currency).
02:12 Residence Permit in Malta (EU citizens)
If you are an EU citizen you can just come to Malta without much hassle. If you want to stay more than 3 months in the country you need to register your stay. You will need an address to register your stay but this is a pretty straightforward process.
02:30 Residence Permit in Malta (non-EU citizens)
If you are a non-EU citizen however, in Malta, like in any EU country, it is much harder to actually get residency. But actually Malta offers many options.
-The most common types of residence permits in Malta are for employment, or if you have a family member in the country. For employment, it is easier to get a residence permit if you are a health worker or if you have a high paying job in sectors like IT and finance.
-We will focus on options if you are an independent businessman, an investor, a digital nomad or if you want to live a passive life and retire in Malta.
A great advantage of Malta is that, if you are a citizen of a country which does not require a visa to come to Malta such as the US, Canada or the UK, you can actually sort your residency in Malta. In other popular destinations like Portugal or Spain, in most types of residence permits, you need to apply for a visa before coming to these countries through the embassy or consulate in your country of residence. There are a few exceptions to this, but Malta is definitely much more flexible than Portugal or Spain in this regard.
03:46 Self-employment permit in Malta
It is possible to live in Malta if you are a non-EU citizen and want to be a self-employed person, but you need to comply with a number of requirements. There are basically two options here, either be a self-employed person and go with the simple permit route, which is the same type of permit for those employed in the island nation.
The second option is the nomad residence permit in Malta.
04:10 Nomad residence permit in Malta
-The Nomad residence permit in Malta is a great option if you are already working remotely, you are a non-EU citizen and want to reside in the European Union.
-This option is basically for those who work remotely for a company abroad, or who are self-employees registered abroad.
-The main requirement is that you need to earn 2700 EUR gross per month to apply for this type of permit.
-You will not pay any income tax in Malta if you apply for the nomad residence permit and your company is registered abroad. So this is an excellent choice if you are an US citizen. You can still pay your taxes in the US with your company in the US, and then live in Malta.
05:06 Malta Permanent Residence Programme
-Another interesting option to reside in Malta if you are a non-EU citizen is the Malta Permanent residence programme.
-It is actually the cheapest and fastest permanent residence programme currently available in the Schengen area.
-Firstly you need a net worth of at least 500k euros. But then there comes the beauty of it, you don’t need to invest this money in Malta. You have to either buy or rent a property. If you buy the property it has to cost from 300 to 350k euros, depending on where it is. But if you rent it, all you have to do is pay from ten to twelve thousand euros in rent per year, depending on where it is, which in my opinion is the best option.
06:32 Malta Citizenship
If you want to get Maltese Citizenship by naturalization, you need to live in the country for 5 years before applying. The 5 years period is pretty attractive and one of the lowest amounts required among European Union member countries.
07:05 Advantages of living in Malta:
-Developed and stable nation, full EU member, Schengen area, and euro currency.
-Climate is warmer than in most European countries. In Winter days are longer due to lower latitude.
-English is the official language with Maltese.
-Good taxation options for high net worth individuals (flat tax).
08:30 Disadvantages
- Flying is required to travel to most countries in Europe swiftly.
- Small country.
