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Residency Malta
The startup scene in Malta is taking off and a core reason for their recent success has been the government's efforts to support relocated startups in their growth journey.
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Residency Malta has been an exceptional partner to OxFounders Global and we can't wait for them to tell you more about what they do below.
Residency Malta
Residency Malta Agency is the government entity responsible for managing and promoting three key residency programmes tailored for non-EU nationals: the Malta Permanent Residence Programme, the Nomad Residence Permit, and the Malta Startup Residence Programme. These initiatives provide third-country nationals with the opportunity to secure temporary or permanent residency in a safe and stable environment, while enjoying access to business opportunities, quality education, healthcare and island life. Each application is subject to a thorough due diligence process, ensuring that only fit-and-proper individuals and families are granted residency. The Nomad Residence Permit allows third-country nationals to reside in Malta for one year while retaining their remote work based in another country, with options for renewal extending up to four years. In contrast, the Malta Startup Residence Programme offers a three-year residence permit, which can be extended for an additional five years, specifically designed to facilitate the establishment of innovative startups and scale-ups in Malta. This competitive programme not only supports the immigration process for founders and core employees but also extends residency benefits to their immediate family members, fostering a vibrant entrepreneurial ecosystem in Malta.
Why Malta is a hot destination for startup founders and digital nomads
Vacationers have long favoured Mediterranean getaways, and the allure of sun, sand, and sea remains as strong as ever. Malta, with its stunning coastline and warm climate, offers all of these in one compact and inviting package in the heart of the Mediterranean.
But the Maltese Islands offer far more than just scenic beauty for a week’s holiday. Malta has fast become a coveted destination for digital nomads and remote workers and a serious contender as a launch base for startups.
Ease of relocation
The reasons add up. Chief among these is the fact that English is one of Malta’s two official spoken languages, making it easy for expats to communicate and navigate life on the island. The majority of locals are fluent in English, and most businesses use it as their primary language of operation.
Malta boasts strong e-government services, and a plethora of state entities that support businesses in their setting up and growth trajectories. The extensive high-speed internet infrastructure is as robust as they come, with 5G nationwide and hundreds of free public wifi hotspots. This means digital nomads can work from virtually anywhere - whether it's a cozy café, a seaside spot, or their rented apartment. Connectivity isn’t just confined island-wide. With daily air and sea links to major European cities and the MENA region, travelling back home to visit family and friends or to do business is a hop, skip and a jump away. Another huge perk is the time difference, or lack thereof. With only a one-hour time zone difference from the UK, office hours in Malta coincide with Asia in the morning, Europe throughout the day, and the Americas in the afternoon. Working remotely or doing business from Malta is incredibly convenient.
The advantages of relocating to Malta, even temporarily, are significant. The island is home to a sizeable expat community, making it easier for new arrivals to feel at home and to connect with like-minded individuals and entrepreneurs.
Of significant importance is access to world class health care that garnered accolades from the World Health Organisation of the handling of the Covid crisis. With a health insurance cover, access to top notch health-care is secured, guaranteeing peace of mind.
Culture and lifestyle
Malta is one of the safest countries in the world, a stable democratic jurisdiction and boasts an economy that punches above its weight, regularly outpacing most EU member states in growth.
The country’s mild climate means residents enjoy year-round outdoor leisure activities. The locals love their food and one will find a large array of restaurants – from small kiosks and food trucks to Michelin-star fare – offering the best of local and international cuisine.
For those who love being active, the island offers trekking trails, pristine sea great for snorkelling and scuba diving, sailing and more, while culture buffs will find a very busy event schedule including visual art, film, concerts, theatre, high-brow performances and pop events, village feasts and big band music.
Residence permits
In recent years, the digital nomad lifestyle has surged in popularity, with many people choosing to work remotely while traveling and exploring different cultures. Malta has embraced this trend by offering a one-year residence permit tailored to digital nomads. The permit can be extended three times, for a maximum stay of four years.
To qualify for Malta’s Nomad Residence Permit, you must be able to work remotely, either as an employee, a shareholder, or a freelancer with a non-EU company and reach an annual minimum income of €42,000. For more information about how to apply for the Nomad Residence Permit, visit https://residencymalta.gov.mt or email nomad.residencymalta@gov.mt.
For founders and co-founders of innovate startup ventures, Malta offers a Startup Residence Programme that grants a 5 year residence permit, extendable for an additional 5 years. The Programme is also open to core-employees and family members. The permit allows entrepreneurs to focus on starting up or scaling their ventures from Malta. For more information about how to apply visit https://startup.residencymalta.gov.mt/
The future of work lies in the potential of global business and the ability to move and relocate without compromising productivity and output. Malta’s residency programmes offer just this.