Moving to Malta is not the most common option for European and American people. However, the country has many advantages, such as its beaches, authentic villages, rich cultural and historical heritage, and sunny climate almost all year round.
Malta allows you to enjoy the Mediterranean way of life, all within a 2-hour flight from Paris and 3-hour from London, in a secure environment, and offers interesting economic and professional opportunities.
How to Move to Malta: Formalities
Moving to Malta is quite simple for European Union citizens and citizens of countries with visa arrangements with Malta (such as the US, Australia, and Canada).
No visa is required to enter the country. And to stay for more than three months, you only need to obtain a residence permit from the Maltese Ministry of the Interior.
In most cases, it will be necessary to obtain the so-called “ordinary residence” status, which allows you to settle in the country provided that you stay more than 183 days per year, obtain a Maltese social security number, and take out a health insurance policy that is valid in Malta.
There are no income requirements to obtain this status, except for retirees who must be able to prove their financial independence.
There is also a special program for wealthier retirees wishing to move to Malta (Malta Retirement Program), which offers a more advantageous tax regime to its beneficiaries
Cost of Living in Malta, the “Honey Island”
The cost of living in Malta is not as high as in the UK or America.
But this is not true for everything: imported products and daily life in the most sought-after cities, such as Valletta, can be a little more expensive.
Finding accommodation is not complicated, and the growth of the real estate sector allows you to find recent and well-equipped accommodation for all tastes and price ranges.
Note that Malta is also known for its many tax advantages:
- No property tax and no council tax
- No foreign capital gains tax
- No inheritance or gift tax
- No tax on large fortunes.
Working While Living in Malta
Expatriating to Malta allows you to benefit from an advantageous fiscal framework, which attracts entrepreneurs and high-income earners.
More generally, the country benefits from a healthy economy and a low unemployment rate, and many international companies are based there.
It is possible to work in the country as a freelancer or as an employee, provided that you are fluent in English.
The sectors to work in during an expatriation in Malta are mainly IT (software, online games) and tourism.
The telecom platforms also regularly recruit foreign workers who speak foreign languages.
Schooling Your Children after Moving to Malta
The schooling of children is not the easiest thing to manage when you decide to move to Malta.
In Malta, school is compulsory from 5 to 16 years old. Public schools are free and of good level, but in theory, they are only open to Maltese children.
For expat families, it is possible to enroll children in a private school where the teaching will be in English, provided that they obtain a place.
Health Care When Moving to Malta
If you move to Malta, there is no need to worry about health: the country is among the best in the world in this respect.
Doctors are numerous and well-trained, and public and private institutions are well-equipped.
If you are an EU citizen, the European Health Insurance Card can be useful, but not sufficient: the reimbursements take too long and do not cover 100% of the real expenses.
It is possible to benefit from Maltese social security as a foreign resident, provided that you are an employee declared by your employer, or by paying voluntary contributions for self-employed people and entrepreneurs.
This health coverage gives access to many free health services in public institutions.
In spite of this, foreigners often choose to turn to the private sector for treatment, because of the often very long delays in obtaining treatment and appointments in the public sector.
In order to meet these expenses, which are higher in the private sector, it is therefore essential to take out specific health insurance before moving to Malta. It will cover routine health care, hospitalization, and repatriation.
This solution has several advantages: it allows you to be covered in Malta but also abroad, including during stays in your country of origin. Plus, all the procedures and management of the contract are done in English, for more simplicity.
It is possible to subscribe to this coverage in the form of international insurance at the 1st euro/dollar. Online insurance comparators allow you to quickly select the most suitable offer for each situation, free of charge.