Relocation & Recruitment Advice
AP Executive offers recruitment services in Malta. Please use our job search function to see jobs in Malta and worldwide.
OVERVIEW
The parliamentary republic of Malta is situated in the Mediterranean Sea in-between Europe and Africa. It attracts large amounts of tourists each year due to its beauty and culture. On the 21st of September, 1964, Malta gained its independence from the UK. The currency used there is the Euro, and the population is around 514,564 (2019 estimation).
WHY CHOOSE MALTA
There are various opportunities to be had in Malta when it comes to the financial industry. There are a number of low-cost tax-efficient services there that are, furthermore, EU-compliant.
Maximum income tax in Malta is 35%, this is when an individual (single) receives over €19,500 per annum and/or (married couple) receive a combined €28,700 or more each year. Capital gains are treated in the same way and taxable as income. However, there are some special rates. For example, the special 27.5% rate of tax applicable to non-resident shareholders in International Trading Companies; the special regimes applicable to officers and/or employees of offshore companies, Freeport companies, insurance and mutual fund companies; the 'final withholding tax' of 15% on income from certain types of investment and income from part-time employment or self-employment, also at 15% (subject to various rules). One has to bear in mind, however, that Malta has various double-taxation agreements with a number of different countries.
Employers and employees make social security contributions in Malta on a graduated scale: at the maximum weekly pay, the employee and employer each pay 10%. The employer deducts the social security contribution along with income tax. The self-employed also make contributions. VAT in Malta is currently 18%.
REQUIREMENTS TO SET UP A COMPANY
Want to start a business in Malta? Learn more about it by visiting this website
REQUIREMENTS FOR EMPLOYEES WISHING TO RELOCATE
With some exceptions, work permits in Malta are employer-specific, occupation-specific, and location-specific, and are usually valid for 1 year.
Before entering Malta, all workers from non-EU countries must obtain a visa and then, once in Malta, apply for the residence/work permit. You will need an employment license in order to be able to work in Malta. EU nationals [except citizens of Croatia], EEA and Swiss nationals do not require an employment license to work in Malta.