Relocating to Malta

MALTA

Relocation & Recruitment Advice

AP Executive offers recruitment services in Malta. Please use our job search function to see jobs in Malta and worldwide. 

Overview

The parliamentary republic of Malta is situated in the Mediterranean Sea in-between Europe and Africa. It attracts large amounts of tourists each year due to its beauty and culture. On the 21st of September, 1964, Malta gained its independence from the UK. The currency used there is the Euro, and the population is around 413,000 (2011 estimation). 

Why choose Malta

There are various opportunities to be had in Malta when it comes to the financial industry. There are a number of low cost tax-efficient services there that are, furthermore, EU-compliant.

Maximum income tax in Malta is 35%, this is when an individual (single) receives over €19,500 per annum and/or (married couple) receive a combined €28,700 or more each year. Capital gains are treated in the same way and taxable as income. However, there are some special rates. For example, the special 27.5% rate of tax applicable to non-resident shareholders in International Trading Companies; the special regimes applicable to officers and/or employees of offshore companies, Freeport companies, insurance and mutual fund companies; the 'final withholding tax' of 15% on income from certain types of investment and income from part-time employment or self-employment, also at 15% (subject to various rules). One has to bare in mind, however, that Malta has various double-taxation agreements with a number of different countries.

Employers and employees make social security contributions in Malta on a graduated scale: at the maximum weekly pay the employee and employer each pay 10%. The employer deducts the social security contribution along with income tax. The self-employed also make contributions. VAT in Malta is currently 18%.

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Requirements to set up a company

Want to start a business in Malta? Learn more about it by visiting this website 

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Requirements for employees wishing to relocate

Foreigners seeking to live and work in Malta need to obtain a Temporary Residence and Employment Permit. A work permit will only be given on a temporary basis (to be renewed every 1-3 years) and for a specified position provided that no suitable qualified Maltese candidates are available. The applicant must possess a professional qualification or a high degree of skill or experience. 

As stated by the Maltese government: "You can set up your own local company. Subject to the objects restrictions existing in the formation of Maltese companies, the foreign promoters of a Maltese company are invariably granted a Temporary Residence Permit and an Employment Licence. Different rules apply to employees of Maltese international trading companies. Executives and Managers of these companies must apply for a Temporary Residence and Employment Permit through a different route and in these cases, Permits are granted almost immediately. Non-Executive staff however, must apply through the normal route and often permits are only granted if there are no qualified Maltese candidates for the post in question. Permits are also available for foreigners engaged to a Maltese citizen, children of Maltese migrants and for investors seeking to set up business in Malta."

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