Nomad Residence Permit Launched in Malta
This initiative was designed to capitalise on the increasing number of individuals working remotely. The Nomad Residence Permit provides such workers with the possibility to legally reside in Malta for a period of one year – with the possibility to renew should requirements continue to be met.
Eligible applicants must have a monthly gross income of at least EUR2,700, and must:
- Work for an employer registered in a foreign country, with a formal contract of work in place;
- Conduct business activities for a foreign-registered company of which the individual is a partner or shareholder; or
- Provide freelance or consulting services to clients with permanent residences in foreign countries.
Additionally, successful applicants for the Nomad Residence Permit Program will be required to hold a valid travel document, as well as health insurance covering all local risks. They must also pass due diligence checks by Residency Malta Agency, and hold a valid property purchase or rental agreement. The application fee is set at EUR300 per permit.
“This initiative will see Malta jump on the bandwagon of increased demand for remote working globally, as the pandemic shifted goalposts and new trends being set. Individuals who can work remotely using technology and entrepreneurs with a flair for travelling and discovering new countries and cultures are being made welcome in Malta”, expressed Alex Muscat Parliamentary Secretary for Citizenship.
For more information about the Nomad Residence Permit, please get in touch with us.