MALTA RESIDENCE PROGRAM NRP for DIGITAL NOMADS
What used to be the dream of many to live and work remotely, perhaps overlooking the sea, is becoming an increasingly widespread reality for many #digitalprofessionals or #digitalnomads.
Malta, as other countries have already done including some Caribbean islands, has launched on 2.6.2021 a new temporary residence program for digital nomads who want to move to the archipelago to work remotely, which joins the programs already in place to attract non-European citizens
The NOMAD residence program #NRP foresees the possibility for citizens of third-country nationals, including family members, who want to move to the island, to obtain a visa of 6 months or one year, possibly renewable.
The permit is aimed at 3 specific categories of applicants:
- Those who are employees already in possession of an existing employment contract with a foreign employer or
- Those who carry out a business activity with a foreign company or are partners/shareholders or
- Who is a freelance professional or consultant with contracts with clients who have a permanent establishment abroad.
It is also required that the digital nomad has:
- a valid expatriate document
- a gross monthly income of at least 2,700 euros, increased in case of addition of family members
- a rental contract or purchase of a property in Malta
- a health insurance.
The Digital Nomad Permit, therefore, makes it possible to maintain stable employment abroad and to obtain a visa and a legal residence permit in Malta within a short period of time.
The nomads’ work income will, therefore, be taxed only in the country of origin and will not suffer further taxation in Malta.
The cost of the visa is only 300 Euros for the applicant and 300 Euros for each additional family member.
Being a digital nomad in Malta has many points of attractiveness also for citizens of European countries who, taking advantage of the free movement in the member countries, can obtain a residence permit in Malta for EU.
Moving your fiscal residence to the Maltese archipelago means:
- to take advantage of the tax benefits with lower taxation than in many other countries
- the existence of the non-dom taxation regime instead of worldwide taxation
- of the advantages offered to traditional investors and to those of the #blockchain #crypto #BTC #ETH world both for regulatory certainty and technological availability and for tax advantages
- a healthcare system that has shown its efficiency even during the COVID19 pandemic
- a streamlined bureaucratic system
- a technological and computerized system
- a country with a large international community
- a country where English is the official language
- a favorable climate with many sunny days.
- air connections with all of Europe and soon with the USA
For all legal advice and residence needs for Individuals and Businesses contact us here