Are you considering moving to Malta?
Malta is a popular destination for many, with a near perfect climate, thriving eSports, Gaming and Blockchain sectors, and idyllic sea views.
Here at Harvex we have helped many people relocate to Malta. Here we will share some helpful advice for those considering moving to Malta.
Moving to Malta from UK
Harvex are ideally positioned to help and advise with moving to Malta from the UK. We have an office in London and Sliema (Malta) giving us on the ground knowledge of both sides of the move. This allows us to help with;
- Leaving the UK tax regime and advising how many days you can return to the UK per tax year.
- Joining the Maltese tax regime with all relevant tax filings (and becoming a Maltese Resident) and ongoing Maltese Tax support.
- Finding a property in Malta to meet your exact needs.
- Getting a car, insurance, healthcare, childcare options (pretty much anything you need).
- Securing the right bank accounts for cryptocurrencies and gaming from our known bitcoin friendly bank partners.
We start with this as a key aspect is to ensure you are de-registered correctly for tax purposes in the UK.
If you incorrectly do this, you could find yourself taxed in the UK and Malta simultaneously. Practically, this means filing a final tax return and completing a P85 (leaving the UK) tax form, including relevant information about your future UK earnings, if any.
Additionally, you'll need to complete the Statutory Residency Test (SRT). This is a test that establishes how many days you will be able to return to the UK, once you have 'left' the UK for tax purposes. This is an important test for anybody who wishes to return to the UK, even as a holiday, as the number of days are set out.
⇒ Want to know all about Malta Tax, check out our next article ⇒
Property in Malta
The property market in Malta moves quickly. The rental laws allow tenants the right to decide to extend their lease up to the last day of their current tenancy. So, when properties come onto the market, they tend to be vacant and ready to lease. Planning ahead 3-6 months, which can be the norm in the UK, is not the norm in Malta.
However, Maltese letting agents work differently to the UK. Agents have access to all the available properties across the island, (exclusivity is rare) so finding a property is seldom hard. The same agent could easily show you 12-15 properties in a day (if you wish) all of which are vacant and ready to move into.
In recent years property prices have risen sharply in Malta. Properties can be as expensive as parts of the UK, especially along the coast. This is in part due to an influx of buyers seeking holiday homes and apartments.
The Maltese Government have instigated 'special designated areas', which aside from being highly luxurious residential complexes, allows foreign buyers to gain the the same status as local buyers, removing the need to apply for certain permits.
The Maltese Healthcare system is publically funded and free to UK citizens who move to Malta, including Hospitals and Clinics. This will continue to be free post-Brexit.
Seeing a Doctor in Malta is different to the UK. Doctors are based in Pharmacies (not separate surgeries) and usually see patients on a first come first served basis. Practically, this means you will be able to see a Doctor any day Monday-Friday, and sometimes Saturday.
eSports, Gaming & Blockchain
Malta leads the way in certain emerging markets - making the island an attractive destination for professionals in the industries of eSports, Gaming and Blockchain.
The popularity is such that Malta is known as 'the Gaming Capital' of the world and 'the Blockchain Island'. This has helps attractive professionals and companies to relocate from a wide range of countries, not just the UK. Apply for a Curacao gaming license with Harvex.
Relocation Services Malta
In our opinion Relocation Services to Malta need to ensure you are comfortable in all areas of your move. Our relocation services are entirely adaptable to your personal circumstances.
If you have a bespoke home requirement in Malta, our partners will ensure you find what you need. If you already have a home, we can remove this from our scope and focus on other areas.
If you have a UK Limited Company or property investments, we can explain what a move to Malta means for these, which does not include selling them.
If you want to bring your car with you from the UK, this can be arranged.
In summary, proper Relocation Services to Malta can ensure your move is smooth, irrespective of the circumstances, which we know from experience is entirely possible.
Relocating to Malta
Harvex’ main aim is to ensure the entire process is smooth and hassle free for anybody relocating to Malta. You will have a dedicated contact who will work with you throughout the entire process.
We will ensure every part of the process is completed correctly.
Should I move to Malta?
If we look at the opinions of those who’ve already moved, Malta has these key benefits
- 12 hours per day of sunshine in the Summer, and about 5 hours of sunshine in the run up to winter. Temperatures can reach 27c during July.
- Malta's economy is stable with thriving and growing Blockchain, eSports and Gaming sectors. The timezone is CET (+1 hour to the UK). There is a large amount of highly qualified people living on the island.
- Expat Community
- Malta has many international people living there. However, the official language remains English and many expats have moved their businesses (and lives) to Malta.
How to move to Malta from UK
Moving to Malta from the UK can we viewed as slightly easier than other countries. The UK and Malta have a long history of cooperation. Malta declared independence from the UK in 1964, both drive on the same side of the road, even the plugs are the same.
When considering how to move to Malta form the UK, there are very few barriers, but correct advice is key. Simply jumping on a plane is not sufficient, even becoming a Maltese Resident may not remove your obligations back in the UK.
The how is split between the paperwork (whether this is residency applications or tax) and practical tasks, such as finding a property and physically moving your belongings.
Moving to Malta after Brexit
The Maltese Government have released guidance specifically for UK residents post Brexit. This gives UK nationals a 'special' status in Malta.
This includes fast track residency vs the rest of Europe, long term (10 year work permits) that can we renewed easily and that UK nationals will continue to receive free healthcare.
The Maltese Government are actively working on further legislation to attempt to ensure moving to Malta after Brexit (for UK nationals) continues to be a popular choice.
Read More: Malta Tax
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