During the past 18 months, digital nomad visas have taken off in a big way around the globe. In today’s episode, we highlight one of the latest nomad visa programs to launch in the EU: The Malta Nomad Residence Permit.
Let’s get into the details below…
Malta’s Nomad Residency: Putting island living within your reach in 2022
Boasting spectacular scenery, awe-inspiring architecture and a safe, sun-drenched lifestyle, Malta has been an evergreen favorite among those chasing the Mediterranean dream.
The country is home to an ever growing population of expat retirees, blockchain startups and — increasingly — a thriving digital nomad community.
The island nation has long been renowned for its Citizenship By Investment and Global Residency Programs (Malta’s Golden Visa). But given the eye-watering price tags of these products, they have been accessible to the rarified few only:
- Malta’s Citizenship by Investment (CBI) Program requires you to part with €1.3 million (or €700k if you rent instead of buy).
- Malta’s Golden Visa Program costs a minimum of €150,000 if you rent an eligible property, or €370,000 if you opt to purchase a property.
While the country also offers a residency program for retirees, this is generally not suited to the needs of younger folks.
Therefore, the recent introduction of the Malta Nomad Residence Permit (MNRP) comes as a welcome — and vastly more affordable — addition to the country’s long-stay visa options.
And as of 2020, the meteoric rise of remote work has put extended “workations” within the reach of millions of people…
Why choose Malta as your remote work destination?
- QUALITY OF LIFE: If relaxed Mediterranean living, a cosmopolitan cultural scene and sumptuous cuisine sounds like your thing, then Malta is just the place for a remote working getaway.
- EXCELLENT INTERNET CONNECTIVITY: Unlike many other remote working destinations, Malta boasts excellent broadband connectivity, with average download speeds ranging from 88-134 Mbps.
- AFFORDABLE LIVING COSTS: Depending on where you want to live and what kind of accommodation you’d prefer, Malta can be a reasonably cost-effective place to rent in.A one-bedroom apartment costs about €1,035 ($1,200) per month, while three-bedroom units go for around €1,940 ($2,250) per month. And if you’re willing to venture beyond Malta’s capital and surroundings, the island of Gozo offers quality rental properties at even lower rates.
- EASY RESIDENCY PROGRAM: Boasting a fairly low minimum income requirement and a fast application process, the Malta Nomad Residence Program is tailor-made for remote workers seeking to spend meaningful periods of time on the island, without the intention of gaining permanent residency and/or citizenship there:
The Malta Nomad Residence Permit at a glance
What are the key program criteria?
Essentially, the Maltese authorities are happy to grant you a 1-year residency permit, provided that you have sufficient means to support and accommodate yourself without becoming a burden unto the state during this period.
To this end, in addition to meeting the program’s minimum stable income requirement of €2,700 per month, you’ll also need to:
- Be fully vaccinated
- Secure comprehensive health insurance
- Demonstrate proof of a property rental or purchase agreement
- Pass a background verification check.
If your application is approved, you’ll receive a 1-year residency permit — the Type D Multi-Entry National Visa — with the option to renew. Given that Malta is an EU country, this residency status comes with Schengen visa-free travel privileges too.
Moreover, with Malta’s airport serving as a hub for RyanAir, AirMalta and many long-haul airlines, the country also serves as an excellent EU base whilst travelling around the continent.
The applications of those seeking to bring family members along will be appraised on a case by case basis.
According to our preferred service provider on the ground, you can expect processing to take up to 30 days.
The government application fee is €300 for the primary applicant, and an additional €300 for each dependent member being applied for.
Can I apply for the program directly?
As is the case with many other digital nomad programs, you can apply for the Malta Residence Permit directly.
Alternatively, if you’d prefer to enlist the services of a professional who specializes in Malta’s Nomad Residence Permit, we have one in our rolodex, accessible exclusively by Sovereign Man: Confidential members.
Reportedly, his clients have a 100% acceptance rate, compared to a 70-75% acceptance rate for direct applicants. So if you’re looking to save time and effort, this option might be worth considering…
The bottom line
Remote work is here to stay, and it’s one development that opens up a massive opportunity for you to seek new adventures and maximize your freedom.
While Malta and several other EU countries are still restricting many foreign tourists, residents are allowed to enter the country, AND travel to other EU member countries that may otherwise be inaccessible.
So if the cabin fever of the past 18 months is getting to you at home, why not make 2022 the year of European island adventures?
Yours in Freedom,
Team Sovereign Man
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