{"id":45458,"date":"2024-07-05T12:21:20","date_gmt":"2024-07-05T05:21:20","guid":{"rendered":"https:\/\/porticoandbridge.com\/?p=45458"},"modified":"2024-07-05T12:28:45","modified_gmt":"2024-07-05T05:28:45","slug":"moving-to-malta-2024-but-what-you-need-to-know","status":"publish","type":"post","link":"https:\/\/porticoandbridge.com\/en\/moving-to-malta-2024-but-what-you-need-to-know\/","title":{"rendered":"Moving To Malta 2024: But What You Need To Know"},"content":{"rendered":"

Malta – A beautiful island nation located in the heart of the Mediterranean Sea. With a unique combination of history, vibrant culture and breathtaking scenery, it promises an idyllic lifestyle, attracting thousands of foreigners to live here.<\/p>\n

The English-speaking environment, the booming job market, and friendly locals are just a few of the factors that make Malta attractive. According to 2023 figures, more than 130,000 foreign nationals currently call Malta home. If you think you might want to join them, then you’ve definitely come to the right place.<\/p>\n

About the island nation of Malta\u00a0<\/strong><\/h2>\n
\"About
About the island nation of Malta<\/figcaption><\/figure>\n
    \n
  • Geography:<\/strong>\u00a0Malta is an archipelago in the central Mediterranean, located in the south of Italy and north of Libya. With an area of 316 km\u00b2, it is the tenth smallest country in the world in terms of area and the fifth most densely populated country.<\/li>\n
  • Capital:<\/strong>\u00a0Valletta, a UNESCO World Heritage Site.<\/li>\n
  • Population:<\/strong> About 514,000 people by 2024.<\/li>\n
  • Language:<\/strong>\u00a0Maltese and English are both official languages.<\/li>\n
  • Economy:<\/strong> Malta boasts a diverse economy, with key industries including tourism, financial services, transportation, iGaming, and information technology.<\/li>\n<\/ul>\n

    Malta Visas and Residence Permits<\/strong><\/h2>\n

    Non-EU Citizens<\/h3>\n

    Citizens of countries outside the European Union need a visa to enter Malta. The visa application process can be done in a variety of ways, but it all involves applying for a work permit or presenting proof of adequate financial capacity.<\/p>\n

    The most common type of work visa for citizens of third countries is the Single Permit (D Visa), which allows you to work and reside in Malta. To apply, you must have a job offer letter in the country and meet several other eligibility criteria.<\/p>\n

    Citizenship by Investment<\/h3>\n

    The citizenship by investment program applies to any foreign national who is willing and able to make a significant financial contribution to the country. Investing in Malta can include contributing to a national development fund, purchasing high-end real estate, or investing in government bonds. This program provides a quick route to obtaining Maltese citizenship, no matter where you are from.<\/p>\n

    Immigrate to Malta using the Malta Permanent Residency Program (MPRP). The Malta Residency Program (MPRP) is an immigrant investment program that is based on an investment in real estate and a contribution to the government. With a commitment to a review period of 8 \u2013 12 months from the time of submission of a full application, the program brings a lot of value to investors who wish to settle in Malta.<\/p>\n

    Malta is a member of the European Union – EU<\/strong><\/h2>\n

    Meanwhile, Malta’s European Union membership means that citizens of EEA countries and Switzerland can move to Malta without a visa.<\/p>\n

    If you want to move to Malta from Europe, simply apply for a residence permit within three months of arriving on the island. It is a simple application process that involves registering with the Citizenship and Aliens Administration.<\/p>\n

    Working in Malta<\/h2>\n

    Having a job offer letter from a Maltese company is an important part of any visa application for non-EU citizens. Fortunately for those looking to move, Malta’s job market is thriving.<\/p>\n

    It is an international hub of the iGaming industry, while sectors such as finance, tourism, and IT are all growing on the island, providing jobs for foreign professionals.<\/p>\n

    Malta also offers competitive tax rates for both individuals and businesses. If you are working for a Malta-based company, there is a progressive income tax system that ranges from 15% to 35% depending on the income level.<\/p>\n

    There are also a number of tax incentives and benefits available to foreigners, including incentives for foreign income. Plus, one of the biggest benefits of a Nomadic Residence Permit is the 10% flat income tax.<\/p>\n

    Where to live for expats in Malta<\/h2>\n
    \"N\u01a1i
    Where to live for expats in Malta<\/figcaption><\/figure>\n

    Valletta<\/b><\/h3>\n

    Malta’s capital, Valletta, is a UNESCO World Heritage Site, renowned for its historical significance and vibrant cultural scene. It offers a unique combination of historical architecture, cultural events, and modern amenities.<\/p>\n

    Few places are better than Valletta for lovers of museums, theaters and galleries and it’s also home to world-class restaurants and entertainment options. As with any capital city, housing prices here are among the highest on the island.<\/p>\n

    Sliema<\/b><\/h3>\n

    Sliema is one of Malta’s most popular residential areas, especially among the expat community. It boasts a beautiful seaside promenade, excellent shopping facilities, and a wealth of dining and entertainment options.<\/p>\n

    It is ideal for those who are looking for a vibrant atmosphere and modern amenities, along with a plethora of high-rise apartments with stunning sea views.<\/p>\n

    St. Julian\u2019s<\/b><\/h3>\n

    St. Julian’s is located right next to Sliema and is known for its vibrant nightlife, luxury hotels, and entertainment venues.<\/p>\n

    Paceville is the island’s club hotspot, popular with young professionals and expats pursuing an active social life. Quieter neighborhoods include a mix of apartments and houses.<\/p>\n

    Gozo<\/b><\/h3>\n

    On the opposite side, there is Gozo. Malta’s sister island offers a more rustic, laid-back pace of life and is ideal for anyone looking to escape the urban environment. Gozo is located in the middle of the beautiful countryside, with quiet communities scattered on the hillsides.<\/p>\n

    Mdina<\/b><\/h3>\n

    Known as the “City of Silence”, Mdina is the ancient capital of Malta. The medieval architecture, narrow streets, and fairytale atmosphere make it a truly unique place to live.<\/p>\n

    Cost of Living in Malta<\/h2>\n

    The cost of living in Malta can vary quite a bit depending on where you live on the island. According to many comparison websites, the cost of living in Malta is about 30% higher than in the United States.<\/p>\n

    Of course, the cost of living is definitely the highest when you’re in the capital city of Valletta, while other popular areas like Sliema and St. Julian’s are also quite expensive. However, the cost of living in Malta is the same as in other European Union countries\u2014a beautiful spot on the island will not differ significantly from the United States in terms of average price.<\/p>\n\n\n\n\n\n\n\n\n\n
    Cost<\/td>\nDetails<\/td>\nPrice<\/td>\n<\/tr>\n
    Housing<\/td>\nRent for a two-bedroom apartment in the center of Valletta, Sliema, and St. Julian’s<\/td>\n\u20ac1.500 per month<\/span><\/td>\n<\/tr>\n
    Housing<\/td>\nBudget-friendly options in Gozo or Gzira<\/td>\nLower than Valletta, Sliema and St. Julian’s<\/td>\n<\/tr>\n
    Bill<\/td>\nMonthly bill for an average apartment (electricity, heating, water, internet)<\/td>\n\u20ac100 – \u20ac150<\/span><\/td>\n<\/tr>\n
    Food<\/td>\nMonthly supermarket bill (similar to other European countries)<\/td>\n\u20ac300 – \u20ac400<\/span><\/td>\n<\/tr>\n
    Eat out<\/td>\nMeal for one person at an inexpensive restaurant<\/td>\n\u20ac15<\/span><\/td>\n<\/tr>\n
    Eat out<\/td>\nPremium dining experience for everyone<\/td>\n\u20ac60+<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

    What should I know before moving to Malta?<\/h2>\n

     <\/p>\n

    \"Nh\u1eefng
    What should I know before moving to Malta?<\/figcaption><\/figure>\n

    Before making the process of moving to Malta, make sure that you have a clear understanding of what to expect from life in this country.<\/p>\n

    Healthcare<\/strong><\/h3>\n

    Malta has a high-quality public healthcare system that is considered one of the best in Europe. It is funded by taxes and provides free services to residents. EU citizens in Malta can use public health services free of charge, provided they present a valid European Health Insurance (EHIC) card.<\/p>\n

    However, non-EEA citizens must have a health insurance policy to apply for a residence permit and work permit. Private health insurance plans in Malta vary in coverage and cost, so make sure you choose one that suits your needs and budget.<\/p>\n

    Transportation<\/strong><\/h3>\n

    Malta has a solid public transport system that mainly consists of bus routes. It also has ferry services connecting the main islands. Tickets are usually affordable and can be purchased by the day, week, or month.<\/p>\n

    As such a small island, cycling and walking are very popular in Malta and are often the best options for traveling short distances.<\/p>\n

    Banking<\/strong><\/h3>\n

    Opening a bank account as a foreign citizen in Malta is quite simple. Most banks require proof of identity, residency, and employment.<\/p>\n

    We recommend comparing banks to find the best services that suit your individual situation, but some of the top options for expats on the island are:<\/p>\n