The new permit aims to attract non-EU remote workers to the island.
Malta.- Parliamentary Secretary for Citizenship Alex Muscat has announced a new nomad residency initiative in a bid to attract non-EU talent to Malta.
The trial initiative will allow remote employees to work in Malta but pay taxes in different jurisdictions. Non-EU remote workers will be able to apply for a six-month visa and then the option of gaining a one-year Nomad Residence Permit for €300.
Muscat announced the new initiative alongside Charles Mizzi, CEO of Residency Malta Agency, and Anton Sevasta, CEO of Identity Malta Agency.
He said applications would not be limited to any particular sectors, and noted that remote working had increased substantially owing to the COVID-19 pandemic.
Muscat said: “Individuals who can work remotely using technology and entrepreneurs with a flair for travelling and discovering new countries and cultures are being made welcome in Malta.”
Mizzi said: “If there are any lessons learnt from the pandemic is that people are willing to move more than ever before.
Early to recognise the signs, Residency Malta has launched this new permit that allows digital nomads to come to Malta and work here, while enjoying all the perks that Malta offers foreigners. The process is simple and we promise an efficient service that discerning nomads expect.”
Sevasta said: “The new visa service [for] nomad applicants is part of the new Premium Visa Service which Identity Malta Agency will be launching in the coming weeks.
“The service is a door-to-door option intended for highly skilled professionals in order to streamline the process without compromising the due diligence process.”
Malta is one of the largest igaming hubs in Europe, home to more than 250 operators. Online gambling accounts for 12 per cent of the island country’s GDP. It generates €700m a year, employing 9,000 people. Many currently work remotely due to the pandemic.
Major international operators with a presence in the country include Betfair, Betsson, Tipico and William Hill. Bet365 has said it plans to relocate to the island from Gibraltar.
Malta Gaming Authority to lower minimum RTP for igaming
The Malta Gaming Authority (MGA) has announced that it will lower the minimum return-to-player (RTP) percentage for its licensees’ online random number generator games from 92 per cent to 85 per cent.
The change brings the limit for online casino in line with Malta’s land-based sector.
The MGA said the move would give operators and suppliers flexibility when offering games in jurisdictions that have high tax rates, helping to avoid the need for each game to be substantially adapted.
GamingMalta Foundation launches vaccination drive
The non-profit GamingMalta Foundation has launched a vaccination drive that aims to ensure that workers in the island’s gambling sector are vaccinated against Covid-19.
The foundation, which is run by the Maltese government and the Malta Gaming Authority (MGA), has launched a scheme to allow all employees in the sector to access a vaccine booking schedule.