#Benefits of Malta digital nomad visa

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Key Benefits of Working in Malta with a Digital Nomad Visa

Malta's digital nomad visa offers safety, a welcoming community, and ideal weather with 300 sunny days. The island provides reliable high-speed internet, affordable living costs, and great tourist attractions like Valletta, Sliema, and Gozo. To get more information, visit us!

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The Ultimate Guide to Securing a Malta Work Permit in 2021

Are you a digital nomad seeking a new base for your remote work or an expat looking to relocate to the Mediterranean haven of Malta? Work Visa Apply Online? Securing a work visa can be daunting, but the sun-drenched archipelago offers an exciting blend of career potential, historical richness, and scenic beauty. With the Malta Work Visa application online popularity growing among those seeking a change of pace, understanding the ins and outs of the online work visa application is crucial.

In this comprehensive guide, we’ll walk you through the steps to apply for a Malta work visa online, detailing the eligibility requirements, the application process, and post-approval essentials. Equip yourself with the knowledge you need to make your Mediterranean work adventure a reality.

Navigating the Requirements for a Malta Work Visa

Obtaining a Malta work visa application online requires meticulous attention to detail and a thorough understanding of the prerequisites. Before starting the application process, please familiarize yourself with the different types of work visas available, such as the Temporary Employment License (TEL) and the Highly Qualified Persons (HQP) Scheme, as each has specific conditions and benefits.

To give a comprehensive overview:

The TEL is generally required for non-EU citizens working in Malta. A work visa is required to apply for a limited time, with a processing time of approximately two to three months.

The HQP Scheme is tailored for executives, key personnel, or specialized individuals, offering expedited processing and a fast track to a residence permit.

Detailed documentation is critical. You will typically need:

A valid passport.

A job offer or employment contract from a Malta-based company.

Proof of qualifications and professional experience.

A cover letter explaining the purpose of your visit.

Sufficient financial means to support yourself in Malta.

Health insurance coverage.

Filled-out application forms vary based on the specific work visa type.

Mastering the Malta Work Visa Application Process

The Malta work visa application process can be completed online, making it convenient for those not currently in Malta. Here’s your step-by-step guide:

Step 1: Gather All Necessary Documents

As you prepare to apply, ensure you have all the documents on the official Malta work visa application online website. Failure to provide necessary paperwork can significantly delay the process or lead to application rejection.

Step 2: Fill Out the Online Application Form

Visit the official website of the Government of Malta and look for the online visa application portal. Create an account, follow the prompts to select the correct visa category, and fill out the application form accurately. Be cautious when inputting your details precisely, as any errors could cause processing delays.

Step 3: Upload Your Documents

After completing the application form, the system will prompt you to upload your supporting documents. Ensure your files are legible and in the correct format. Consider using high-quality scans to prevent any issues the authorities might encounter while reviewing your application.

Step 4: Pay Your Visa Fees

Visa fees must be paid at the time of application. The fee amount varies depending on the visa type and your nationality. Payment is generally made online through a secure portal. Retain proof of payment for your records.

Step 5: Book Your Biometrics Appointment (if required)

Depending on your country of residence, you may need to book an appointment to submit your biometric information, including fingerprints and a photo session. Follow the instructions given during the application process to complete this step.

Step 6: Track Your Application

Use the assigned reference number to track your visa application’s progress online. The system will update you on every step, from submission to approval. Be patient, as processing times can vary.

Preparing for Your Arrival and Stay in Malta

Receiving your work visa approval is a significant milestone, but it’s just the beginning. Your successful application clears the path for your move, but there are additional steps to consider before and after your arrival in Malta.

Step 1: Plan Your Relocation

Once you have the visa in hand, plan your move to Malta. This includes finding accommodation, arranging transport, and relocating your personal belongings. If you’re unsure where to start, consider joining expat or digital nomad forums for advice and support.

Step 2: Understand Malta’s Job Landscape

Understand the job market and opportunities within your industry. Research prospective employers and Malta’s cost of living to help manage your expectations and budget.

Step 3: Know Your Rights and Responsibilities

Familiarize yourself with your rights and responsibilities under your work visa to ensure compliance with Maltese immigration laws. Knowing the conditions of your stay will help you make the most of your time while avoiding any unfortunate legal consequences.

Step 4: Integrate Into Local Life

Malta’s rich history and culture offer a vibrant local life worth exploring. Immerse yourself by learning about Maltese customs, language (English and Maltese), and local activities to enrich your experience.

Final Words on Embarking on Your Work Visa Journey in Malta

Applying for a work visa in Malta can be complex, but it is achievable with the right approach and understanding. Be prepared to invest time and effort in preparing your application. Treat every step with the respect and importance it deserves, as it directly reflects your commitment to working and residing in this beautiful country.

Above all else, remember that the Malta work visa application online is a gateway to a new chapter in your professional and personal life. Be open to the experiences that come your way, build meaningful connections, and make the most of your time in this Mediterranean gem.

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Want to Work From Anywhere? You May Need a Digital Nomad Visa First

Just because employees have the freedom to work from anywhere doesn't mean they automatically can. But with the proper documentation, they could be one step closer.

There are an estimated 35 million digital nomads worldwide today, according to remote work insights website Think Remote, up nearly 20 million since 2020 as a result of remote work. But in order to work on their own terms, this demographic of flexible workers — and those who aspire to join them — must first make sure they have permission to live and work in the countries they visit by acquiring what's called a digital nomad visa.

Benefits of Digital Nomad Visa

"These are specialized visas that are designed to offer a residency permit for independent workers that are desiring an extended stay," explains Keith Spencer, career expert at FlexJobs. "It gives digital nomads the opportunity to stay in a country longer than you would with just a tourist visa — from a couple months, up to a couple of years."

Flexjobs compiled a list of countries that currently offer a digital nomad visa, which include Argentina, Australia, Costa Rica, Czech Republic, Germany, Greece, Hungary, India, Malta and Mexico. For some countries, like Portugal and Germany, these documents predate the pandemic and the subsequent shift to remote work. But as more employees have taken advantage of loosened workplace policies and restrictions, more countries have added the nomadic visas to meet the rise in demand, without sacrificing the labor needs of their country.

"Host countries can attract skilled workers and boost their tourism to stimulate their local economy without displacing the jobs of permanent residents," Spencer says. "Or on the flip side, if a country is experiencing a skilled labor shortage, they could add a stipulation in their visa where they actually need you to freelance for local companies. It's a benefit for both the digital nomad and the host country. "

Requirements

The requirements vary from country to country. For example, to qualify for a digital nomad visa in Argentina, an applicant must have a rent contract, health insurance coverage and proof of income. And while many of those requirements can overlap, to work in Hungary, for instance, the same applicant would additionally need to prove that their monthly income is 2,000 euros or higher.

"You want to make sure that you are doing your research and reaching out to your embassy in that country to find out what those requirements might be," Spencer says. "The application process time also varies: sometimes the response time is about two weeks and sometimes it takes several months. Getting a digital nomad visa is not necessarily challenging if you meet all the requirements, but it can take time."

Spencer also encourages employees to think about the organizational risks on top of the logistics when applying for digital nomad visas. Working in other countries could mean different time zones and tech trouble if a worker's equipment needs certain ports and outlets, or if Wi-Fi isn't as reliable in some areas versus others. It could also mean a significant financial commitment should a nomad choose to continue to pay rent or their mortgage in their home country while they're paying short-term leases in new cities, on top of groceries and leisure.

"These potential drawbacks shouldn't necessarily be a deterrent," Spencer says. "They're just more things to plan for in terms of being a digital nomad."

Source: ebn

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11 LOW TAX COUNTRIES FOR LIVING IN EUROPE

Ever dreamed of living in Europe?

Many of us have.

However, Europe’s stereotypically high tax rates have turned many successful entrepreneurs and investors away from the idea in search of zero-tax countries in the Caribbean, Middle East, or the Pacific Ocean.

Here’s the deal: while living in Europe and paying zero income tax is a rare feat, it is possible for almost anyone to live in Europe full-time and pay low taxes on their income… even if they’re not a millionaire.

I’m not talking about living like a digital nomad. Sure, it’s possible to spend three months in the summer living in Europe, then spending another few months further south in a country like Serbia. So long as you don’t establish tax ties in any one country, your only concern is making sure you aren’t on the hook for taxes in your home country.

However, as I increasingly work with seven- and eight-figure business owners, one recurring theme I hear is the desire for a home. For many successful people, dragging a suitcase around the world just isn’t their thing. They want a (nearly) full-time home AND the benefits of minimal taxation.

That’s where low tax countries come in.

The good news is that you don’t have to move to the Bahamas or Dubai to enjoy low tax countries rates so long as you’re able to invest some of your money in Europe. While some countries like France will always be off-limits to those seeking excellent tax planning, We’ve made a list of nearly a dozen European countries with favorable tax rates.

1. ANDORRA

Nestled into the mountainside, this medieval village shows the beauty of the Andorran countryside.

Pressure from the European Union caused Andorra to implement its first ever income tax in 2015, but Andorra still remains a low tax haven conveniently nestled between high-tax Spain and France.

Long known as a destination for duty-free shopping, Andorra is an idyllic mountainous country that also happens to offer residence permits to investors and business owners. Fortunately, Andorra has positioned itself to attract those of more average means than other low tax countries like Monaco.

Andorra is perfect for those with capital gains or generational wealth; it has no wealth tax, no gift tax, no inheritance tax and the only capital gains tax is assessed on most sales of Andorra real estate.

The only tax is an income tax, of which a generous 24,000 euros is exempt, and the top rate of 10% takes effect at the 40,000 euro level.

Unless you’re well-noted in your field, there are two ways to qualify for residence: make an investment or start a company. Either way, you’ll need to pledge to spend 90 days per year living in Andorra, rent or own a property, maintain a bond, and maintain health insurance; many residents are exempt from the already low tax rates depending on how their income is earned.

To start a company, you will need to present your CV and a business plan, as well as deposit a 50,000 euro bond for a single applicant. This route requires far less upfront capital but you do need to actually run a business, which means living in Andorra should be part of your overall corporate and tax planning. If you prefer to be a passive resident, you may invest 400,000 euros in Andorra, which can include an investment in real estate.

2. BULGARIA

Bulgaria offers Eastern European city charm, plenty of beach resorts on the Black Sea… and a flat 10% tax rate with no minimum.

At a flat 10%, Bulgaria has the European Union’s lowest personal income tax rates. Corporate income tax rates are the same flat rate of 10% (tied with Cyprus), and Bulgaria maintains tax treaties with many countries that could allow for special tax treatment for some international entrepreneurs.

Basically, Bulgaria’s tax system is simple: live there and pay 10%. You can become a fiscal resident by living in Bulgaria for at least 183 days in a year, or by convincing the tax office that Bulgaria is your “center of life”. While merely staying in the country is often easier, the “center of life” test gives you more flexibility and involves a number of factors.

Eastern Europe is one of the world’s most underrated places for living in my opinion, although out of the Balkan countries I would personally prefer living in Serbia or Romania. That said, Bulgaria has the advantage of being a rather open place to operate, with bank accounts being easy to open and a substantial low-tax offshore company industry attracting plenty of entrepreneurs and capital.

3. CZECH REPUBLIC

Despite being a top tourist destination in Europe, Prague has one of the cheapest costs of living in central Europe.

The Czech Republic is often ignored as a low tax jurisdiction despite the fact that it has streamlined both personal and corporate income tax rate to reasonable levels. Considering that Prague is one of the most cooed-over cities in Europe, the idea of living in the Czech Republic is worth considering.

As a low-tax residency, the Czech Republic (or Czechia, as they prefer) is best suited for European Union citizens. That’s because self-employed Europeans can not only avail themselves of Czechia’s 15% flat tax rate but may also apply a lump sum tax deduction in lieu of actual expenses. For most business owners, the lump sum can reduce the flat tax by 40% or 60%, leaving an effective tax rate of 6% or 9% on self-employed entrepreneurs.

Like Portugal and other European Union countries, real tax planning is required if you choose to live in Czechia. For one thing, you will need to rent or own an actual home; the good news is that the cost of living in Prague is surprisingly low given how popular the city is for tourists and digital nomads.

4. GEORGIA

Georgia has a diverse tourism landscape. For instance, Mtskheta, Georgia is home to a UNESCO world heritage site.

While Georgia may not be in the center of Europe, its position in the Caucasus places it squarely between eastern Europe and Asia. Fun fact: Georgia also happens to be the only European country with a largely territorial tax system, meaning properly structured foreign source income is not taxed in most circumstances.

For non-US citizens, it is easy to create an international structure and pay zero tax on profits while being a legal resident of Georgia. It is also possible to maintain a part-time home base in Georgia without incurring tax obligations. You can even become tax resident without living in Georgia if you can prove wealth or high income.

While Georgia’s capital of Tbilisi is not Paris, Georgia is one of the safest countries in the world and a favorite of ours here at Nomad Capitalist. The cost of living is extremely low, and activities like smoking and gambling are extremely cheap compared to the highly over-regulated European Union.

5. GIBRALTAR

Gibraltar offers residence visas to wealthy investors willing to pay an annual flat tax.

Gibraltar has long been a popular tax residence for British citizens, but Gibraltar’s benefits as a low-tax residence are available to anyone. Nestled at the southern tip of Spain, Gibraltar is a British Overseas Territory and not a sovereign country, but is able to set its own tax policies.

There are two ways to become resident in Gibraltar: start a company or demonstrate a high net worth. As is usually the case with these programs, it is easier for entrepreneurs to qualify by forming a company but proving wealth is easier in the long run.

The High Executive Possessing Specialist Skills method, or HEPSS, allows entrepreneurs with Gibraltar companies to pay a maximum tax on their salary. You must earn more than £120,000 per year, but will only be taxed on £120,000. That essentially translates to a flat tax of £29,940, although you must also consider any Gibraltar corporate tax. You will need to own or lease a home in Gibraltar.

The Category 2 visa program is also appealing but requires a £2 million – roughly $2.5 million – net worth to qualify. There are few requirements besides proving this level of wealth; the main requirement is to purchase or lease a “qualifying” home.

Other than that, you may not carry out almost any business within the territory of Gibraltar. You will pay a minimum annual tax of £22,000, and a maximum annual tax of £28,360 based on Gibraltar’s oddly progressive-but-then-regressive income tax rates ranging from 10% to 29%.

6. MALTA

Malta allows foreign citizens to pay an annual flat fee and exempt their foreign income from Malta tax.

Malta is one of only four countries on this list that are part of the Schengen Area, and one of only three that are also part of the European Union. Malta has developed some of the EU’s most tax-friendly programs for both individual residents and corporations, with corporate tax rates as low as 5% possible for non-resident companies.

Malta has long had a flat-fee residence program available, but as I have discussed in the recent post the newer Global Residence Program has become the second residency of choice. Unlike Andorra and Monaco, Malta does not require any physical presence on its two Mediterranean islands, meaning you can establish residency but not live there at all. Furthermore, they have prided themselves on reducing bureaucracy and even allowing residents to include domestic staff on their applications (similar to Malaysia’s MM2H program).

Maltese residents are not subject to tax in Malta on foreign sourced income that is kept outside of the country. What’s more, they are not subject to tax on foreign capital gains even if those gains are sent to a Malta bank account. Other income, including pensions, can be taxed once at a flat 15% thanks to Malta’s tax treaty network.

The cost of maintaining the residence in Malta is a flat 15,000 euro “minimum tax” payable each year. With proper planning, this should also be the maximum tax. It is also possible to obtain a tax residence certificate.

7. MONACO

Monaco eliminated income taxes entirely in 1869, making it the only sovereign zero-tax jurisdiction in Europe.

While Monaco is not a full member of the European Union, it is a de facto participant in the borderless Schengen Area, offering excellent mobility. Monaco’s exclusivity and proximity to France and the rest of Europe make it a more serious tax residency than some tiny island in the middle of the ocean.

According to the tiny principality, it is not a tax haven. It does allow foreigners to establish residence in Monaco merely by proving their wealth. Doing this generally requires a 500,000 euro bank deposit and purchase (or in some cases, rental) of a property there.

Seeing that parking spaces can often sell for up to 1 million euros, residence in Monaco is reserved for the wealthiest entrepreneurs and investors. It’s also reserved for those actually willing to live there; you must spend three months per year for the first nine years, at which point you can obtain what is effectively permanent residence but requires 183 days of stay per year.

If you’re interested in getting a residency or second passport in Monaco, we have just published our Ultimate Guide where you can get all the details.

8. MONTENEGRO

Montenegro has low corporate taxes and is one of the least expensive countries in Europe to start a company.

Montenegro boasts the lowest headline personal income tax and corporate income tax rates in Europe, both pegged at a flat 9%.

Like many of its western Balkan neighbors, Montenegro has sought to attract business to its small country – population: 620,000 – by lowering tax rates. While almost all of eastern Europe offers rather reasonable tax rates in the teens, Montenegro offers the lowest tax rates and the benefit of a country you might actually want to live in.

Locals know Montenegro as Crna Gora, meaning “black mountain”, but the Italian name stuck and gives the country an air of sexiness by sounding similar to Monaco. Personally, I believe it is a completely stunning place to visit during the summer season, which is why I purchased my beach house for holiday getaway right there, where I relax, do some writing and enjoy the sunsets and Mediterranean cuisine.

Montenegro’s government seems to have played to that notion, inviting foreign investors to develop luxury resorts on its pristine coastline in a bid to be the jewel of the Adriatic Sea. It was enough to attract me to buy a home in Montenegro.

Montenegro allows foreigners who buy residential property to obtain a temporary residence card, renewable yearly. If you spend fewer than 183 days in Montenegro, you will generally not be taxed. If you live in Montenegro the majority of the time, you will become tax resident and be liable to pay the flat 9% rate on your income.

While Montenegro isn’t a zero-tax country for full-time residents, it is a very attractive home base primarily for Europeans seeking a legitimate low-tax residency to appease their home government.

9. PORTUGAL

Even though Portugal is a high tax country, foreigners can take advantage of a ten-year Non-Habitual Resident Tax exemption that exempts up to 100% of their income from Portuguese tax.

Most people don’t associate Portugal with low tax countries.

In most cases, they’re right; Portugal is hardly a tax rate favorable place for the average resident. However, foreigners can take advantage of a ten-year Non-Habitual Resident Tax exemption that exempts up to 100% of their income from Portuguese tax.

While this exemption doesn’t allow you to live in Portugal tax-free forever, it is long enough to allow you to claim Portugal citizenship if you meet the rather lenient physical stay requirements.

The first step to living in Portugal is to obtain Portugal residency; this can be done by purchasing real estate through the well-known Golden Visa program, but can be done more easily by hiring people or by merely proving you have rental income overseas.

There is a catch, though: the most tax-optimized structures won’t qualify for Portugal’s tax exemption. Income from blacklisted tax countries is not subject to exemption, meaning your offshore company in the BVI or Hong Kong won’t work. Substantial tax planning is needed to ensure that all of your business and passive income is structured to eliminate taxes while you live in Portugal.

10. SWITZERLAND

Switzerland was one of the first countries to allow wealthy taxpayers to negotiate a flat annual tax with its cantons

There is no doubt that Switzerland has become less friendly both for immigration and banking in recent years. That said, it is still one of the safest and most respected countries in the world with a location at the heart of Europe. Swiss residency offers an air of legitimacy that many other low-tax residencies can’t match. Foreigners have two residency options to choose from.

The first is to form a new company in Switzerland and hire local employees. This company will pay corporate income tax based on which canton (region) it is incorporated in, and you as the manager will pay Swiss income tax.

The more common and lower tax method to living in Switzerland is the Lump Sum Taxation method, also known as “taxation according to expenditure”. Under this method, a family may move to Switzerland and pay a flat annual tax based on their cost of living rather than their actual income. This has often been described as negotiating a flat tax, and each canton has their own policies.

Generally speaking, expect to pay at least $150,000 and up to $1 million in flat tax each year depending on which canton you want to live in. You will also not be able to legally reside in Zurich. If your income exceeds $1 million each year, maintaining your home and tax residency in Switzerland would give you a moderate tax rate. If your income is in the millions, Switzerland could reduce your tax rate below 10%. While Switzerland is hardly a cheap place to live, it has one of the highest standards of living in the world.

11. UNITED KINGDOM

The UKis far from a tax haven, but there are certain exemptions from the rule when it comes to tax rates, which you can take advantage of if you’re a wealthy entrepreneur.

Like Portugal, the United Kingdom isn’t exactly a haven in terms of low tax countries for all… but it is for a select group of wealthy individuals. By exploiting the difference between domicile and residence, certain foreign citizens can live in London and pay an annual flat tax.

This “non-dom” system has been popularized thanks to Middle Eastern and Russian billionaires who take up residence in the United Kingdom yet claim they are not running their businesses from Kensington. Because their income is a foreign source, it is eligible to be taxed on a remittance basis; keep the income out of the UK and it is not taxed.

Obtaining residency in Britain requires a substantial investment, but for the right person, the tax benefits outweigh the initial costs. Claiming non-dom tax benefits may be free for up to six years, after which the remittance basis charge is anywhere from £30,000 to £90,000 depending on how long you’ve been a resident.

Tax residence in the UK is a highly complicated topic and always worth discussing at length with a tax professional before claiming any benefits, particularly as some non-dom benefits must be claimed in advance.

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Key Benefits of Working in Malta with a Digital Nomad Visa

Malta's digital nomad visa offers safety, a welcoming community, and ideal weather with 300 sunny days. The island provides reliable high-speed internet, affordable living costs, and great tourist attractions like Valletta, Sliema, and Gozo. To get more information, visit us!

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Tax Benefits of the Spanish Digital Nomad Visa

In our previous article, we examined digital nomad visas for Spain and touched upon the rates of taxation offered for the duration of the visa.

This article will examine the tax issue in more depth as part of an ongoing series on different locations and how they treat location-independent travellers. Malta was the subject of our first article in this series, and we will be writing more about different locations in the coming weeks.

Tax Rates for Spanish Telework Visa

The tax rates for the Spanish “digital nomad visa” or “telework residence permit” are favourable compared to many European countries. The visa can be renewed multiple times for up to five years, and for the first four years of the visa, the holder is eligible for a Spanish tax rate of 24% on earnings up to €600,000.

The Spanish tax rate offered to holders of this visa is preferential and more generous than the tax bandings offered to Spanish nationals. This is due to the “Startup Law,” which was introduced to encourage people from outside the country to come in and set up their businesses there.

Offering a lower tax rate for teleworkers is essentially a gamble that it will encourage high-earners to stay once they become eligible for permanent residence after five years of holding a digital nomad visa.

The tax rate for Spanish residents is 19% up to €12,450, 24% for anything over €12450 and less than €20,200, 30% for anything between €20,200 and €35,200, 37% between €35,200 and €60,000 and 45% between €60,000 and €300,000. The top rate of 47% is reserved for earnings above €300,000 per year.

It can be clearly seen that the digital nomad visa offers a vastly preferential tax regime compared to what locals would pay on similar earnings, and this difference may help to make moving to Spain an attractive option for many.

How Does Spain’s Digital Nomad Tax Compare to Malta’s?

Malta’s Digital Nomad taxation offering is one of the best available and draws large numbers of digital nomads there. In the first year, the tax rate is zero. That’s right, you will pay no tax in Malta for a whole year, which is an absolutely phenomenal deal.

After the first year, if you have renewed the digital nomad visa, the rate goes up to 10% and stays there for the rest of the time you have the visa. This is a flat rate and is therefore not dependent on how much money you earn over this time period.

You will only pay 10% tax for your second and subsequent years in Malta. That represents an excellent opportunity and far outstrips the 24% tax rate offered by Spain for digital nomads. Saving 14% in tax compared to Spain is pushing more people to consider moving to the small independent state of Malta, rather than the larger Spanish mainland.

Malta has reciprocal deals with many other countries, which means that you pay tax only in Malta and are not eligible to be taxed twice on the same income. It is worth discussing this with an accountant to ensure that your finances and tax situation are set up correctly to avoid this.

Malta is investing in making itself a top digital nomad and startup location, and this is reflected in its taxation approach. The more you earn in your time in Malta, the more beneficial the tax situation becomes, which is obvious why many startups are considering relocating there while in their high-growth early phases.

Digital Nomad Hotspots in Spain

If you choose to forego the tax benefits of Malta in favour of Spain, there are many different places where you can spend time in the warm and welcoming climate.

The Canary Islands

One of the biggest draws for digital nomads to the Spanish Digital Nomad Visa is the chance to spend the winters in the Canary Islands. Despite being politically part of Spain, they are geographically off the coast of Africa. Most of the sand from their beautiful beaches has been blown across the sea from the Sahara Desert.

Morocco is the closest country to the Canary Islands, and the winter climate is very similar. The Canary Islands consist of Gran Canaria, Tenerife, Lanzarote, Fuertaventura, La Gomera, El Hierro, and La Palma. La Palma is not to be confused with Las Palmas, the capital city of Gran Canaria and a digital nomad hotspot. La Palma, on the other hand, is a tiny, nearly uninhabited island with very few tourist amenities.

Madrid

Madrid is the cultural centre and capital of Spain. It is known for being a young, hip city with an excellent nightlife. Although it isn’t one of the cheapest cities to live in, the quality of life makes up for the relatively expensive living costs.

Madrid is the home to the Royal family of Spain and has most of the administrative buildings of the central government. It is a great place to visit for aficionados of culture, art and history.

Barcelona

The capital of the region of Catalonia, Barcelona is a beautiful beach city that has a famous shopping street called Las Ramblas. It is the best-known and loved street in central Barcelona and always has something happening to entertain and amuse. If you are going to Barcelona, try to make it on the 11th September as it is “La Diada Nacional”, their national day, where millions take to the streets and sing their anthem called Els Segadors.

Valencia

Another place on the digital nomad map is Valencia, which is a beautiful and ancient city in its own right. Valencia is known for being the place where Paella was first popularised and has one of the largest fresh produce markets in Europe. Valencia is also the largest producer of oranges in Spain.

Ibiza

The legendary party island of Ibiza is also one of the islands off the Spanish coast, and is popular with young people who like to dance and party the night away and then sleep on the beach during the day. It is perhaps not the most conducive environment to get a lot of work done but who are we to argue if people want to have a good time.

Original Source: https://evolvecoliving.io/blog/tax-benefits-spanish-digital-nomad-visa/

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What are the tax benefits for Digital Nomads in Malta?

Following on from our recent article about the Malta Digital Nomad Visa, let’s take a closer look at the tax benefits that digital nomads can expect when they are approved for this visa. 

Although not often the primary motivation to be a digital nomad, people often consider a benefit of the digital nomad lifestyle as being able to take advantage of a better tax rate. Especially if their country of origin has a high tax level that doesn’t allow them to fully enjoy the benefits of their hard work and earnings.

Malta Nomad Residence Permit

The Malta Nomad Residence Permit is the official name of the Malta Digital Nomad Visa. Once approved, it lasts for one year but can be extended three times for a total of four years. 

The Nomad Residence Permit isn’t available to European Economic Area countries as EU citizens already have freedom of movement. This means they can already move to Malta if they wish with no obstacles. 

One requirement for applying for the visa is that your source of income is from outside Malta, and if you are successful, Malta offers 0% tax for the first year and then a flat 10% tax for each year after that.

Malta also has a number of agreements with other countries so that you can avoid double taxation! There is more about this below.

Nomad Tax Rate of 10% (Comparison)

After the first year, where digital nomads benefit from 0% tax, the tax rate for those under the Maltese Digital Nomad Visa has been set at 10%, which has to be one of the most attractive reasons for applying for the visa.

For comparison, if you live in the UK,  after your £12,500 tax free personal allowance, you are expected to pay 20% income tax in the UK on everything in between £12,571 to £50,270.

So, the minimum required amount to qualify for the Malta Digital Nomad Visa is €42,000, if you consider just those earnings the total tax paid over two years in Malta and in the UK is as follows:

Malta: Year 1: €0, Year 2: €4,200 for a total tax of: €4,200

UK: Year 1: €5,490, Year 2: €5,490 for a total tax of: €10,980 (more than 2x Maltas taxes)

And Malta only looks more beneficial as the time frame and amount of earnings increase.

If you increase the time frame to three years and the earnings to €62,000 per year then the total tax over three years in Malta is €12,400, and the total tax over three years in UK is €35,700.

This obviously makes Malta’s 10% tax rate a very attractive proposition as you will be able to retain at least two times, even three times as much earnings, which can make a real difference to your lifestyle.

Being able to potentially cut in half or even quarter (at the higher earnings) the taxes you pay for up to four years could provide a massive boost to your financial situation, and it definitely renders the digital nomad visa an attractive option for those who have the flexibility and meet the requirements.   Additionally, if you stay in one of the number of private rooms at Evolve Coliving, you will be surrounded by likeminded people in their 30’s, all living the good life in a huge villa with a pool, gym, jacuzzi, coworking and premium wifi ❤️ It’s worth nothing our leases are also suitable for the digital nomad visa!

Accommodation for Longer-Term Nomads

There are a number of accommodation options for people who qualify for the Malta Digital Nomad Visa, but Evolve Coliving provides an unmatched offer for digital nomads.  Being new to a country can be hard, but living in an amazing villa with other digital nomads, remote workers, and entrepreneurs can really help you feel right at home.

We have provided leases for many digital nomads who have successfully applied for the digital nomad visa, and we have an in-depth guide to applying.

And considering the excellent facilities, including a beautiful pool, outdoor gym, rooftop hot tub, shared coworking, premium wifi and 1268m2 of shared space at Evolve’s accommodation in San Gwann, this is a no brainer. So feel free to fill out the form for more info!

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Malta’s Double Taxation Agreements

One of the things that sometimes puts people off changing where they are resident for tax purposes is the potential for being charged tax twice by different countries and being liable to pay both. Thankfully, Malta has reciprocal taxation agreements with many countries that avoid double taxation on the same income. 

Malta has agreements with the UK and many other countries, 60 of which are currently in force and 10 to be enacted shortly. It is advisable to check whether your home country has agreements with Malta and to take advice from an accountant on how best to proceed.

Nothing on this website constitutes financial advice and professional advice should be taken to help you navigate your situation. But here is a list of Malta’s double taxation conventions to get you started.

The USA is one of the most difficult countries when it comes to its citizens working abroad, so special care should be taken by those coming from the USA to ensure that they are abiding by the tax regulations.  

The US Government expects its citizens to file US taxes, even if they no longer live there, and this can make life difficult for those who have moved abroad. There are accountants and tax advice services that can help to ensure you are getting this correct. 

Places to Explore in Malta

You will be happy to know that we have curated a tell all Ultimate Insiders Guide To Malta!

This goes deep into everything we recommend on the beautiful little rock off the boot of Italy.

But for an overview, Malta is full of rich history, UNESCO sites, beautiful beaches, great bars and restaurants, lots of lively nightlife, and some great festivals.  Also, being an English-speaking country with 300 days of sun, the beautiful, warm, crystal clear Mediterranean sea, great taxes and home to a vibrant community of amazing digital nomads make Malta a very exciting choice.

When you come, be sure to check out Valetta, The Three Citys, Mdina, the beaches around Mellieha, Gozo and the Blue Lagoon in Comino. But more than anything, Malta is all about the laid back, chilled out lifestyle, so be sure to take a breath and enoy the experience ❤️

What about if I want to relocate to Malta under a different visa?

There are several ways to relocate to Malta, whether you do so without a visa or whether you want to come under a different visa that allows you to work in Malta. Below are a few great tax systems you can benefit from if you do it either of these ways instead.

What Are Corporate Tax Refunds?

A Maltese company’s corporate tax is 35%, but the tax refund system effectively reduces this rate to just 5%. How does it work?

Profit Distribution: After your company pays the 35% corporate tax on its profits, you need to declare a dividend distribution to the shareholders.

Tax Refund Application: Your accountant will prepare and submit the necessary forms to the Maltese tax authorities to claim the 6/7ths refund on behalf of the shareholders.

Refund Processing: Once the application is submitted, the tax authorities will review it, and if everything is in order, the refund is processed and paid out to the shareholders.

This means you can pay just €5,000, or 5%, on €100,000 profit. This system, combined with Malta’s extensive double taxation treaties, makes the country an attractive location for international businesses.

No Wealth, Inheritance or Gift Taxes

Another amazing benefit of Maltas taxation system isthat there is no inheritance or gift taxes. That means if you are looking to retain as much wealth as possible within your family, then Malta becomes a desirable destination to those who are approaching the later stages of their lives and are thinking along these lines.

Government Grants and Tax Incentives

Because Malta is a small country, it can be nimble in targeting grants and tax incentives to encourage business development. It is very competitive in the gaming, technology, and finance sectors. Much of its effort is focused on attracting this valuable foreign inward investment. This is great news for any nomads who may have companies that undertake work in these areas. 

High Net-Worth Individuals

Malta has opted to take a modest share from a larger pool, making it an attractive location for many businesses and high net-worth individuals. The philosophy is that collecting small contributions from many sources will yield more in the long run than trying to take a bigger share from fewer opportunities.

This approach enhances Malta’s appeal as a business-friendly environment where many can thrive while contributing to the country’s economy.

Original Source: https://evolvecoliving.io/blog/tax-benefits-digital-nomads-malta/

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https://viralsocialtrends.com/discover-the-top-destinations-offering-digital-nomad-visas/

Check Out Premier Destinations for Digital Nomads

Digital nomad visas let you work and travel flexibly. Malta offers sunny weather, English-speaking locals, and a thriving remote work community. Spain attracts with its vibrant culture and affordable living. Each destination offers unique benefits for digital nomads. To know more, visit us!

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Tax Benefits for Digital Nomads in Malta: Key Advantages

Malta offers attractive tax benefits for digital nomads, including a flat tax rate. This is beneficial for remote workers who are earning from foreign sources. Additionally, Malta has a favorable tax regime for self-employed individuals and businesses, enhancing financial efficiency. To know more visit us.

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The Art of Slow Travel for Digital Nomads

There is a popular image of the digital nomad lifestyle that gives us ambitions to visit a vast number of countries every year, but sustaining that kind of pace can be tiring and take the fun out of it.

Many people prefer to visit fewer countries and stay for longer, which we refer to as “slow travel.”

Slow travel affords many more opportunities and is a much more relaxed approach to location-independent living.  There are definite benefits to doing it this way. To better understand these, I have listed some of the advantages below. 

Cost of Living

One of the most expensive parts of being a digital nomad is the accommodation; the second most expensive thing tends to be the flights.

Staying in one place for longer means that you don’t have to spend money as frequently on flights and you can also find better accommodation deals. 

The longer you stay somewhere, the better the accommodation deals become. A six-month lease is markedly cheaper per month than a one-month rental, a two-week stay or a three-day stay.

Being able to stay for an extended period of time can make a real difference to affordability and it is clear, it is definitely financially worth doing if you can.

In addition to the length of stay bringing the costs down, if you are going to stay somewhere for a longer time, it is very plausible to look at a less central and more “local” residential area.

Joining local Facebook groups and asking about accommodation for the time you are looking for or contacting local estate agents will help you determine nice but not tourist centre locations. 

Remaining in one place can also get you thinking more like a local. You will find that you cook more meals instead of eating out, which will also save money. 

Exploring more on foot rather than by taxi and bus because you are not so concerned about time can also help to reduce costs and increase your overall fitness.

Digital Nomad Visas

Increasing numbers of countries are offering special visas aimed at digital nomads.

These will often allow a route to stay for longer in a country to people who might not otherwise qualify to stay due to their country of origin. 

Countries with temperate all-year-round climates, such as Bali, Malta, Mexico, and Portugal, increasingly offer digital nomad visas.

These visas vary in length and allow people to stay in a country for a certain period of time. 

The Malta digital nomad visa can be extended from the default of one year to a maximum of four.

The Bali visa is for a maximum of five years and has strict requirements for the amount of savings an applicant must deposit in an Indonesian bank.

Of course, European Union citizens can already choose to live in Malta or Portugal without having to navigate additional obstacles.

The digital nomad visas for these locations are more suited to people from further afield, or the UK, which is no longer in the EU following Brexit.

Community Integration

When you visit somewhere fleetingly, it can be hard to make lasting friendships. People are unlikely to want to invest too much in a connection with you because you will be gone soon and they may never see you again.

This often gives the impression that lasting friendships can’t be made while travelling.

But anyone who has spent significant time around other members of the digital nomad community will begin to make friends fairly easily.

The more you travel, the more fascinating stories you accumulate, and the more interesting you become to people who spend their lives in one place.

This, however, still leaves the problem that your new friends will typically be moving on in a few days. And the solution is slow travel. Even the most introverted people can make friends when they are in one place for a long enough time, and the friends you do make you spend enough time with you building a lasting connection.

You also meet others who enjoy slow travel so you have the option to continue to the next place with your new friends.

If you are staying longer-term at a coliving like Evolve, it is even easier. The minimum stay of a month allows for deeper integration, and lifelong friendships are forged as a result. 

It is easy to find the activities you enjoy doing and if there is a social aspect to them, you will begin to make friends. 

Being able to spend quality time with people is what builds connection, and longer stays are ideal for this. 

Recharge and Reinvigorate

Having a “base” for a while can allow for some relaxation and some downtime. It is one of the reasons that so many nomads return to places like Malta for multiple months over the summer.

Knowing a place and catching up with people you have met before can be a great feeling.

Embracing slow travel can definitely banish that frenetic feeling of always being on the go.

Adapting to a little bit of routine for a few months can allow for personal growth and give you the chance to let your ideas percolate and come to fruition. Sometimes, slowing down is exactly what we need.

It helps when a location like Evolve Coliving has a pool, gym, jacuzzi, coworking, huge open plan double shared kitchen and lounge and more, as it created an on-site ecosystem where it is easy to relax, play, and have fun but also focus and get s**t done!

The world is fast-paced. Our own lives don’t need to be. Act with intention and choose the kind of lifestyle that is right for you.

If you left an office job to go remote because it wasn’t right for you, don’t keep doing things that aren’t right for you. 

Not everyone is suited to fast travel, and if you want to slow it down, you don’t need anyone’s permission to do so.

Nobody is going to take away your “digital nomad” card and force you back to the office because you didn’t visit “enough” places in a year. 

Interesting Tax Possibilities

Please note that nothing in this article constitutes financial advice. 

Being a digital nomad, you aren’t necessarily going to be taxed in your country of origin.

You can generally avoid having to pay tax in the UK on your remote earnings if you have no property there and have spent less than half the year there.

If you are spending a few months of the year in several different countries, you may not qualify to pay tax in any of them, leading to the possibility that you are not paying tax anywhere.

It is always important to do your research to avoid unpleasant surprises. 

Alternatively, you may move to a country that has a treaty with your home country and choose to pay tax there.

This would make sense if your home country has a higher rate of tax than your destination.

This is, of course, entirely at your own risk, as governments everywhere are always fond of collecting taxes and may feel that you owe them tax, even if you haven’t lived there for years.

Yes, USA, I am looking at you. The US is notorious for trying to get its citizens to pay taxes even when they don’t live there. 

Original Source: https://evolvecoliving.io/blog/slow-travel-digital-nomads/

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Best Coliving in Europe – The Top 5 Coliving Spaces in Europe 2024

There are coliving spaces popping up all over Europe right now. So it’s not easy to find the best one, but don’t worry we from Evolve Coliving love our Digital Nomads and have done the work for you. Aim of this article is to answer the questions: Which coliving Europe spaces are the most popular and why? As well as provide the most comprehensive list of the Top 5 coliving spaces in Europe in 2024.

What is Coliving?

Coliving is the term used to describe shared coliving spaces for Digital Nomads to live and work together.

It’s a modern form of shared accommodation tailor-made for remote workers and freelancers, who share similar interests and values.

In addition to that, the concept of coliving is perfect for individuals, who are looking to combine work with being active, getting to know new people and having fun.

Why coliving is a great option for Digital Nomads?

The reason why coliving is a great option for Digital Nomads is because COVID has changed the way we live forever.

Many people are working remotely giving them the chance to work from everywhere.

Now is the time to enjoy your freedom and make new experiences, while building a strong network. Coliving combines all of that!

Europe is a great place to start your Digital Nomad journey, since it is one of the most diverse and beautiful continents, and it has a well-established network of coworking and coliving spaces.

How to find the best coliving in Europe?

Finding the best coliving space for you and your needs can therefore be a bit confusing or even overwhelming. That’s why we have written this article to make the decision easier for you.

We do that by providing the most comprehensive list of the Top 5 coliving spaces in Europe in 2024.

All you have to do now is to select your personal favourite and you are ready to go on your next adventure.

It makes sense to start with ourselves Evolve Coliving Malta and we will explain why in the next paragraphs so that everybody can relate to it.

The reason for it being that we would like to give you a short overview what we have been doing since our foundation in 2016 and why we believe that people keep on coming back to us.

Evolve Coliving is more than a normal coliving space it gives you the feeling of being part of a family.

Community comes first at Evolve and we manage like no other to provide a healthy work-life balance. Our motto is and always has been to get shit done, while having fun in the sun.

On top of that, our coliving and coworking space is located in a stunning Maltese villa in San Gwann with 18 rooms, large garden and pool, outdoor gym and rooftop Jacuzzi.

Digital Nomads, who stay with us can enjoy this dream property and an opportunity, while benefiting from a family vibe and building a long-lasting network.

We have a longer average stay than most other coliving spaces in Europe and therefore provide the perfect base for meaningful connections and real friendship.

Evolve Coliving comes highly recommended, because it is located on the beautiful island of Malta, which is one of the sunniest and warmest places in Europe and also boasts some of the best beaches and diving on the continent.

Last but not least, Malta has launched a Digital Nomad Visa in 2021, giving Digital Nomads outside of the European Union the chance to live and work in the EU.

Sun and Co., Spain

Sun and Co. is one of the oldest coliving and coworking spaces in Europe. Since 2015 they have done their fair share to push the remote work movement and bringing professional growth to the diverse group of Digital Nomads through coliving experiences.

Sun and Co. is located in Javea, which is a coastal town on the Mediterranean Sea in the province of Alicante, Spain.

Being based on the east coast of Spain, Sun and Co. offers life in an authentic Spanish town with lots of access to nature.

There main focus is on professional and personal development by making work and travel easy so that you can focus on being productive and getting to know your housemates.

One of the best features of Sun and Co. are the weekly meeting, skill share sessions and goal setting providing new insight, while sharpening your perception.

Last but not least, there are free bikes at your disposal and surfboards and kayaks for rent, enabling plenty of outdoor activities as well as the opportunity to explore the beautiful Mediterranean coastline.

Chateau Coliving, France

What once was a bed & breakfast is now an extravagant coliving space! Chateau coliving is located in Picauville, France within an authentic 12th century castle, nothing less than a dream!

It includes common areas for community building and networking with dedicated workspaces.

The castle is surrounded by green and nature and provides an absolutely unique experience.

It is a great way to escape stressful big city live together with fellow Digital Nomads, who are there to work and enjoy.

Chateau Coliving is featured in our list of the Top 5 coliving spaces in Europe 2023, because of their vision and mission towards balance and harmony.

The coworking space is designed in a way that it gives the perfect mix of nature and technology

This is a coliving space where you can gain some time off and experience the perfect balance between traditions and modernity, while meeting new people!

Casa Netural, Italy

Casa Netural is the first rural coliving space in Italy located in the stunning mountainous city of Matera. This wonderful city is set on a rocky outcrop in the region of Basilicata and was European Capital of Culture in 2019.

With reasonable rates that range from a daily basis, to weekly, and even monthly, this coliving space provides beautiful views since it is on a hill.

If you are looking for a place to work, while spending your nights eating the most delicious pasta and amazing red wine, then Casa Netural is made just for you!

They also have an own garden, where you can collects fresh herbs, fruits and vegetable or even join the agricultural efforts at AgriNetural.

Matera’s local community, digital nomads and social workers are sharing this coliving space and exchanging wisdom and skills.

Nine Coliving, Tenerife

The last property we recommend as one of the best coliving spaces in Europe is Nine Coliving. If you love the sea, beach, sun and surf then this is an ideal choice for you!

It is located in the lovely and very characteristic village of Puerto de la Cruz, Tenerife.

Puerto de la Cruz is a great spot for learning how to surf at Playa Martiánez or the middle part of Playa Jardín, and offers a great surf season through September to April

You can choose between private and shared rooms, so there is something for every taste and budget.

Nine Coliving provides privacy as well as the opportunity to interact and communicate with other working groups of people.

Situated on the largest of Spain’s Canary Islands Nine gives access to Tenerife’s dark, volcanic-sand beaches and the huge Loro Parque.

If you aren’t a fan of the water, there are also fantastic walks and hiking in the gorgeous Puerto de la Cruz.

This coliving space is a perfect fit for sporty remote workers, who like outdoor sports and being active.

Original Source: https://evolvecoliving.io/blog/the-top-5-coliving-spaces-in-europe-2024/

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Unlock Malta's Digital Nomad Dream - Apply for the Visa Today!

Discover why Malta is the perfect destination for digital nomads. Dive into its cultural richness, tax benefits, and the stunning Evolve Co-living community that makes your stay unforgettable. Join the growing tribe of remote workers. Apply for your Malta Digital Nomad Visa now!

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Embrace a New, Exciting Lifestyle in Malta!

Escape the 9-to-5 routine and immerse yourself in the enchanting digital nomad lifestyle that Malta has to offer. Discover the incredible benefits of the Digital Nomad Visa, where you'll become a part of a vibrant and diverse international community. Your adventure awaits - seize it today!

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Malta Digital Nomad Visa Guide: Work from Bliss

Escape the ordinary and work remotely from the picturesque island of Malta with the Digital Nomad Visa! Explore our comprehensive guide on eligibility, benefits, and how to apply for this exciting opportunity. Start your Mediterranean adventure today at Evolve Coliving.