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Colombia Digital Nomad Visa: Check Eligibility and Documents

Check your eligibility and gather the required documents for Colombia's digital nomad visa. Our comprehensive guide will walk you through the application process, helping you prepare for your remote work journey in Colombia. Are you ready to start your Colombian adventure? For more information visit our website!

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Live the Dream in Portugal with a Digital Nomad Visa

Portugal is calling with its perfect blend of remote work! The Portugal digital nomad visa lets you work in beautiful cities, explore, and travel. Portugal’s charming environment and vibrant culture are perfect for remote work, you can experience all this while working remotely. To start your digital nomad journey, visit us!

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Unlock Bali’s Beauty with a Digital Nomad Visa

Picture yourself working amidst stunning landscapes with a digital nomad visa in Bali. This visa allows you to seamlessly blend work with the chance to enjoy Bali's pristine beaches and rich cultural heritage. Discover how to apply and begin your journey as a digital nomad on this beautiful island today!

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Explore Croatia's Lifestyle with Its Digital Nomad Visa

The Digital Nomad Visa Croatia is your gateway to experiencing the country's unique lifestyle. Enjoy Croatia's stunning coastline, historic towns, and culture while working remotely. Explore this exceptional visa option and immerse yourself in all that Croatia has to offer. Visit us to learn more about this visa and start your Croatian journey today!

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New Work Experience with Malta Digital Nomad Visa

Experience working from Malta’s picturesque shores with a digital nomad visa. This combines remote work with Malta's rich history and scenic landscapes. With the digital nomad visa, immerse yourself in Malta’s captivating culture and stunning vistas. To learn about the application process visit us!

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Taxation Rates for Digital Nomads in Mexico

In a previous article, we examined the Mexico Digital Nomad Visa and how to best apply for it. The official name for the Mexican digital nomad visa is the temporary residence permit, which allows holders to stay for between one and four years in Mexico, depending on renewals.

When deciding on whether to apply for a temporary residence permit, one of the important questions that location-independent travellers ask themselves is whether they will be better off in terms of taxation. We will explore this further in this article and compare the situation with some other countries, including Malta.

Taxation as a Digital Nomad in Mexico

If you earn 51% of your income or more outside Mexico, you will most likely be taxed in your country of origin and will not be subject to the mexican tax regime at all. This is because they have agreements in place with many other countries to prevent double taxation on earnings.

The level of taxation you will therefore be liable for while you are in Mexico will be heavily dependent on which other country you are a tax resident of. Many digital nomads who travel constantly will seek to minimise their exposure to taxation and try not to be resident for tax purpose in any one jurisdiction.

This can be a complex situation to maintain and a mis-step along the way can see very large tax bills suddenly appearing on the horizon, so great care should be taken if attempting to navigate that particular route.

Nothing in this article constitutes financial advice and for the best and most up to date advice on international taxation you should contact your own tax adviser.

Taxes in Mexico

If you are planning to be tax-resident in Mexico then you should be aware that Mexican taxes range from 0–30% and these bands are determined in a progressive manner with higher tax bands for those who are earning more money.

If you choose to remain in Mexico for more than 183 days per calendar year, you may be asked to pay tax in Mexico on all of your worldwide earnings, if you are unable to conclusively prove that you qualify on other grounds in another country. For example, you may own property in the UK and be employed by a company there, so HMRC would most likely still see you as a UK tax resident in that scenario.

There are generally two tax bands that can apply to non-residents in Mexico and these are 15% or 30%, dependent on your level of income but it is unlikely that most digital nomads will have to contend with this, as most wont have to pay Mexican taxes at all.

If you are in any doubt, stay on the correct side of the law by seeking accurate financial advice from an expert.

How does the Tax Situation Compare to Malta?

The gold standard that all of the other digital nomad visas and taxation offers have to match up to is Malta’s. That is because Malta is keen to attract digital nomads for the skills, entrepreneurship and expertise that they bring to the country.

Making Malta the home to many tech startups is a main goal and rooting it as a technology hub is well underway, with reliable internet infrastructure and coworking and coliving spaces on the island already.

Malta has a tax situation for digital nomads that is probably one of the best in the whole world. For the first year of the digital nomad visa in Malta, you will pay no tax at all. This isn’t dependent on tax residence in any other country either. For the second and subsequent years, if you renew, it is a 10% flat no matter what you earn.

The tax offer from Mexico is inferior to the one from Malta, because you will still have to pay tax to the country that you are a tax resident of, and at its lowest rate, the Mexican tax for digital nomads is 15%. This means that the zero % first year and subsequent years of 10% tax make Malta a much better low taxation solution for any digital nomads and remote workers who would like to take advantage of it.

Digital Nomad Lifestyle in Mexico

The lifestyle offered to digital nomads in Mexico is one that is varied and is only limited by your own imagination.

Depending on where you are planning to go in Mexico, you may opt for beaches and wild nightlife in a resort such as Cancun or Playa Del Carmen.

Alternatively, you may prefer to spend some time exploring the beauty and splendour of Mexico City, or take off to explore some of the Aztec and Mayan ruins.

One of the most iconic and world-renowned of these ruins is Chichen Itza.

Violent Crime in Mexico

Mexico generally has a sinister reputation for drug cartel violence but tourists rarely get caught up in it, and if you are careful with your belongings ad your personal safety, this should not be an issue for you. The Mexican authorities have done a lot of work in recent years to ensure that the violent crimes related to the narco-traffickers is contained and kept away from tourist areas.

Experienced travellers will know better than to involve themselves in anything to do with the drug trade in Mexico and those who are new to travelling should go in with a healthy awareness of the situation.

Don’t allow the threat of violent crime to diminish your trip. You are probably far more at risk by wandering into the wrong part of any major US city than you are in most places in Mexico. Just keep your wits about you, try not to show lots of money in public, and take care when walking alone at night. It is preferable to get a taxi if you are in an area that isn’t familiar to you.

Original Source: https://evolvecoliving.io/blog/taxation-rates-digital-nomads-mexico/

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Mexico Digital Nomad Visa - Temporary Residence Permit

A very popular digital nomad hotspot, Mexico has decided to take advantage of the opportunities provided by the increase in remote workers by offering a temporary residence permit, which effectively doubles as a Mexican digital nomad visa.

This digital nomad visa / temporary residence permit allows digital nomads to stay in Mexico for one to four years.

Tourist Visa vs Temporary Residence Permit for Mexico

Many people from all around the world can come to visit Mexico on a tourist visa for up to six months. This will not allow you to set up a Mexican bank account, but the longer-term temporary residence visa will.

Tourist visas can be issued for up to 180 days, and it is not unusual for people to leave Mexico and re-enter, being issued with a further 180 days on arrival at the Mexican border control. This can be helpful if you are still trying to decide whether to make a longer-term move to Mexico and want to explore some of the different cities and areas there.

One of the perks of the temporary residence or digital nomad visa is that after you have stayed in Mexico for four years, you will qualify to apply for permanent residence, so you are able to make the switch to living in Mexico permanently, if this is what you desire.

If you stay in Mexico for more than 183 days in any calendar year, you may be considered to be a “tax resident” in Mexico and be expected to pay tax on your worldwide income to the Mexican government.

Mexico has tax treaties with many countries so if you can prove that you are already a tax resident of another country, you may be exempt from “double taxation”. You should explore this with a tax lawyer or accountant, and it is not something to be taken lightly. No part of this blog post constitutes financial advice.

Qualifying for a Temporary Residence Permit

It is important to know that you must be outside Mexico when you apply for a temporary residence permit. You can make an appointment in advance at your local Mexican Consulate or Embassy. There are some documents that you are required to provide at the interview, so please be sure to take these with you when you attend.The documents are listed below:

A valid passport or other travel document with at least six months left to run on it.

The visa application form, completed in English or Spanish, with a “wet” signature on it.

Proof of income can take the form of bank statements and pay slips from your employer. You must prove income of $3,700 — $4,000 per month after tax or savings of up to $75,000 for over six months.

This is to ensure that you have enough money so that you are not tempted to try to take on work that a Mexican citizen can do while you are there.

You will also need a passport-sized photo taken against a white background while not wearing glasses. This is to allow for the creation of your temporary residence permit.

How Long Does it Take and How Much Does it Cost?

It can take at least a few weeks after the interview for your application to be processed. Mexican bureaucracy moves slowly and this is something that you should be prepared for.

The application itself costs $40, and once you reach Mexico, you will have to pay a further $150-$350, depending on the length of visa issued.

You will have to pay the fee each year that you wish to renew the card.

What Makes Mexico so Attractive to Nomads?

Several factors make Mexico a top-tier digital nomad destination. One is the low cost of living compared to the US, the UK, and many parts of Europe. Apartments in many destinations in Mexico still cost $300- $500 per month, which is attractive to those who want to live relatively inexpensively. Many remote workers have relatively low incomes and being able to live in a place that is inexpensive for them can offer a quality of life that is simply unavailable in their home country.

The temperate climate in Mexico is another great selling point for digital nomads and remote workers. Being able to escape the colder weather back home is often what inspires people to become digital nomads in the first place.

According to the popular statistics aggregation website Statista, Internet speeds in Mexico are still lower than the worldwide average. In many towns and cities in Mexico, there is ample high-speed internet for even the most intensive uses by remote workers.

Home to over 30 UNESCO World Heritage sites, Mexico offers a plethora of interesting sites for people who are interested in history and ancient civilisations. There are both Aztec and Mayan ruins here, and there is more than enough to make it a tempting visit for a history buff, with the famed Chichén Itzá being only a short distance from the digital nomad hotspot of Tulum.

Digital Nomad Hotspots in Mexico

There are many places in Mexico which are popular with digital nomads and this is because of a combination of factors including the temperate year-round weather and the comparatively low cost of living.

Mexico City

One of the cultural gems, Mexico City attracts many digital nomads because of its vibrant lifestyle. However, there are some dangerous parts of the city that should be avoided by tourists and nomads.

Playa del Carmen

This is a beach lover’s paradise and is generally kept reasonably safe as it is a tourist and expat hotspot. “Playa”, as it is often simply referred to, is a real hub for the international nomad community.

Tulum

This is one for those who love nature and history, with the ancient ruins of the Mayan civilization right on your doorstep. Tulum is a grat place to tick off a few bucket list items for many people and is a fantastic place to live for a while.

Original Source: https://evolvecoliving.io/blog/mexico-digital-nomad-visa-temporary-residence-permit/

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Essential Tax Information for Mexico-Based Digital Nomads

As a digital nomad in Mexico, understanding your tax obligations is crucial. Mexican tax rates range from 0-30%, depending on your income. Non-residents typically face either 15% or 30% tax rates, but many digital nomads may not owe Mexican taxes at all. To learn more in detail visit us!

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All About the Mexico Temporary Residence Permit

The Mexico digital nomad visa - temporary residence permit is a specialized visa designed for remote workers who wish to live and work in Mexico while enjoying its vibrant culture and stunning landscapes. This permit allows digital nomads to reside in Mexico for up to 12 months, with the possibility of extending their stay. To get more information visit us!

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Key Benefits of Working in Malta with a Digital Nomad Visa

Malta's digital nomad visa offers safety, a welcoming community, and ideal weather with 300 sunny days. The island provides reliable high-speed internet, affordable living costs, and great tourist attractions like Valletta, Sliema, and Gozo. To get more information, visit us!

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Tax Benefits of the Spanish Digital Nomad Visa

In our previous article, we examined digital nomad visas for Spain and touched upon the rates of taxation offered for the duration of the visa.

This article will examine the tax issue in more depth as part of an ongoing series on different locations and how they treat location-independent travellers. Malta was the subject of our first article in this series, and we will be writing more about different locations in the coming weeks.

Tax Rates for Spanish Telework Visa

The tax rates for the Spanish “digital nomad visa” or “telework residence permit” are favourable compared to many European countries. The visa can be renewed multiple times for up to five years, and for the first four years of the visa, the holder is eligible for a Spanish tax rate of 24% on earnings up to €600,000.

The Spanish tax rate offered to holders of this visa is preferential and more generous than the tax bandings offered to Spanish nationals. This is due to the “Startup Law,” which was introduced to encourage people from outside the country to come in and set up their businesses there.

Offering a lower tax rate for teleworkers is essentially a gamble that it will encourage high-earners to stay once they become eligible for permanent residence after five years of holding a digital nomad visa.

The tax rate for Spanish residents is 19% up to €12,450, 24% for anything over €12450 and less than €20,200, 30% for anything between €20,200 and €35,200, 37% between €35,200 and €60,000 and 45% between €60,000 and €300,000. The top rate of 47% is reserved for earnings above €300,000 per year.

It can be clearly seen that the digital nomad visa offers a vastly preferential tax regime compared to what locals would pay on similar earnings, and this difference may help to make moving to Spain an attractive option for many.

How Does Spain’s Digital Nomad Tax Compare to Malta’s?

Malta’s Digital Nomad taxation offering is one of the best available and draws large numbers of digital nomads there. In the first year, the tax rate is zero. That’s right, you will pay no tax in Malta for a whole year, which is an absolutely phenomenal deal.

After the first year, if you have renewed the digital nomad visa, the rate goes up to 10% and stays there for the rest of the time you have the visa. This is a flat rate and is therefore not dependent on how much money you earn over this time period.

You will only pay 10% tax for your second and subsequent years in Malta. That represents an excellent opportunity and far outstrips the 24% tax rate offered by Spain for digital nomads. Saving 14% in tax compared to Spain is pushing more people to consider moving to the small independent state of Malta, rather than the larger Spanish mainland.

Malta has reciprocal deals with many other countries, which means that you pay tax only in Malta and are not eligible to be taxed twice on the same income. It is worth discussing this with an accountant to ensure that your finances and tax situation are set up correctly to avoid this.

Malta is investing in making itself a top digital nomad and startup location, and this is reflected in its taxation approach. The more you earn in your time in Malta, the more beneficial the tax situation becomes, which is obvious why many startups are considering relocating there while in their high-growth early phases.

Digital Nomad Hotspots in Spain

If you choose to forego the tax benefits of Malta in favour of Spain, there are many different places where you can spend time in the warm and welcoming climate.

The Canary Islands

One of the biggest draws for digital nomads to the Spanish Digital Nomad Visa is the chance to spend the winters in the Canary Islands. Despite being politically part of Spain, they are geographically off the coast of Africa. Most of the sand from their beautiful beaches has been blown across the sea from the Sahara Desert.

Morocco is the closest country to the Canary Islands, and the winter climate is very similar. The Canary Islands consist of Gran Canaria, Tenerife, Lanzarote, Fuertaventura, La Gomera, El Hierro, and La Palma. La Palma is not to be confused with Las Palmas, the capital city of Gran Canaria and a digital nomad hotspot. La Palma, on the other hand, is a tiny, nearly uninhabited island with very few tourist amenities.

Madrid

Madrid is the cultural centre and capital of Spain. It is known for being a young, hip city with an excellent nightlife. Although it isn’t one of the cheapest cities to live in, the quality of life makes up for the relatively expensive living costs.

Madrid is the home to the Royal family of Spain and has most of the administrative buildings of the central government. It is a great place to visit for aficionados of culture, art and history.

Barcelona

The capital of the region of Catalonia, Barcelona is a beautiful beach city that has a famous shopping street called Las Ramblas. It is the best-known and loved street in central Barcelona and always has something happening to entertain and amuse. If you are going to Barcelona, try to make it on the 11th September as it is “La Diada Nacional”, their national day, where millions take to the streets and sing their anthem called Els Segadors.

Valencia

Another place on the digital nomad map is Valencia, which is a beautiful and ancient city in its own right. Valencia is known for being the place where Paella was first popularised and has one of the largest fresh produce markets in Europe. Valencia is also the largest producer of oranges in Spain.

Ibiza

The legendary party island of Ibiza is also one of the islands off the Spanish coast, and is popular with young people who like to dance and party the night away and then sleep on the beach during the day. It is perhaps not the most conducive environment to get a lot of work done but who are we to argue if people want to have a good time.

Original Source: https://evolvecoliving.io/blog/tax-benefits-spanish-digital-nomad-visa/

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Unlocking the Tax Benefits of Spain’s Digital Nomad Visa

Spain’s Digital Nomad Visa offers significant tax benefits for remote workers seeking a European base. With reduced tax rates and special incentives, this visa helps lower your tax burden while enjoying Spain’s dynamic lifestyle. Embrace a new way of living and working, maximizing your financial efficiency in a vibrant and welcoming environment. To get more information visit us!

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Discover Community-Based Accommodation for Digital Nomads

Get the best co-living and community-based accommodations created with digital nomads. These accommodations provide ergonomic workspace, WiFi, and co-working spaces. Take advantage of a lively atmosphere that strikes a mix between social interaction and productivity, facilitating effective work. Visit us to get more information!

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Spanish Digital Nomad Visa — Telework Residence Permit

The digital nomad visa for Spain is one of the most popular amongst the nomad community for the sheer range of excellent towns and cities that it encompasses. Want to live in a beautiful, vibrant cultural centre like Barcelona or Madrid? Easy. Want to spend the winter soaking up the sunshine in the Canary Islands? This is also an option with this visa.

Spain’s appeal lies in its diversity of locations and favourable tax rates, in roughly equal measure, though the taxation arrangements aren’t quite as favourable as those in Malta.

Spanish Digital Nomad Visa in 2024

Spain’s digital nomad visa was launched in January 2023 after legislation to boost the economy and attract inward investment to the country was passed in November 2022. It is aimed at people from outside the EU, EEC, or Switzerland.

This is because people from those areas already have freedom of movement and can spend as much time in Spain as they please, as long as they register with the municipality and pay appropriate taxes.

Digital Nomad Visa Perks

There are several perks to the Spanish digital nomad visa, and we have taken a look at some of these below:

Low Taxation Rate

A huge perk of the Spanish digital nomad visa is the ability of those who qualify to pay just 24% of tax on earnings up to a threshold of €600,000 for the first four years. This compares favourably with someone earning a similar amount in the UK and being in the 45% tax bracket. People earning this kind of income could save a significant amount of tax.

The tax rate is good but it is still not on par with the favourable tax rates offered in Malta.

This is also favourable when compared to Spain’s regular tax regime for residents and is only an option because of the Startup Law, which was designed to bring new entrepreneurs into the country.

High Quality of Life

Spain is consistently ranked as having a high quality of life. Much of this is due to the favourable weather, the excellent food and the fact that it can be relatively cheap compared to much of Western Europe. This is obviously dependent on where you go and how tourist-focused the local economy has become.

The sheer range of different places that can be explored while on a digital nomad visa means that even those with intense wanderlust can still travel extensively within Spain and not get bored. If you crave all-year-round sunshine then this is the digital nomad visa for you.

Visa Duration

Spain’s digital nomad visa, sometimes referred to as a telework residence permit, is initially one year long. It can be extended to six years in total, and then permanent residence can be applied for once you have stayed long enough to qualify.

This is an excellent chance for people from outside Europe to qualify for permanent residence in one of the most popular, diverse and culturally vibrant parts of the EU.

Eligibility Criteria

As with most digital nomad visas, particular criteria underpin the Spanish one, and these can be found below:

Income Threshold

Before you can gain access to the Spanish digital nomad visa, you must be able to demonstrate an income of at least twice the Spanish minimum wage. In 2024, the figure that must be met is approximately €2,520 per month and this is subject to annual change based on inflation and other relevant factors. This income threshold is increased if you have an unmarried partner, a spouse and/or dependent children.

Remote Work

The whole premise of this visa is predicated on the fact that you can work remotely. This means that you must be able to show the Spanish authorities that a company outside Spain employs you or that you have clients outside Spain. Up to 20% of your clients may be permissible to be from Spain, but your main focus should not be on Spanish clients or employers.

Stable Employment Situation

Applicants for the teleworking residence permit should be able to show that they have a stable working relationship with their employer. This means that they should have been working for their current company for three months or longer when applying for the visa. The employer must be able to confirm that the applicant has a fully remote position and is authorised to undertake their work from Spain.

Relevant Professional Qualifications

Although this is an optional extra, it may help the approval process go more smoothly. The Spanish government considers a relevant bachelor’s degree or professional qualification or more than three years of experience in your field as a way to strengthen your application.

Criminal Record Check

A clear criminal record is a prerequisite for obtaining most digital nomad visas, as countries do not want to admit convicted criminals to a route that may end in residency or citizenship. A certificate of good conduct must be submitted from either your home country or from anywhere you have lived in the past five years.

Health Insurance

Nearly all visas will share this requirement because the country doesn’t want applicants to come to the country specifically to use the public health system, potentially making its citizens wait longer for treatment.

Visa Application Process

This is a pretty straightforward process, though you should ensure that you have all of the documents you need to complete it. Being organised at the beginning will make the rest of the process much easier.

Application Cost and Timing

The application can be made either from outside or inside Spain. If you are outside Spain, you can approach your local consulate or embassy.

The application fee for this visa can range between €60 to €100, and the processing time can take between 20 and 60 days. You should factor this in when thinking about how and when to apply. If you get this wrong and overstay in Spain before you have the correct visa, this can be a very costly error, so it is best to avoid this if possible.

Once you have been approved, you must apply for a Tarjeta de Identitad de Extranjero (often abbreviated to TIE) at the local immigration office.

Original Source: https://evolvecoliving.io/blog/spanish-digital-nomad-visa-telework-residence-permit/

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Explore the Best City in Mexico to Work as a Digital Nomad

Find out which city in Mexico offers the best environment for digital nomads. With the Mexico digital nomad visa, you can work remotely while experiencing the country's diverse culture and scenic beauty. Begin your adventure to make your remote work experience unforgettable! Visit us!

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What are the tax benefits for Digital Nomads in Malta?

Following on from our recent article about the Malta Digital Nomad Visa, let’s take a closer look at the tax benefits that digital nomads can expect when they are approved for this visa. 

Although not often the primary motivation to be a digital nomad, people often consider a benefit of the digital nomad lifestyle as being able to take advantage of a better tax rate. Especially if their country of origin has a high tax level that doesn’t allow them to fully enjoy the benefits of their hard work and earnings.

Malta Nomad Residence Permit

The Malta Nomad Residence Permit is the official name of the Malta Digital Nomad Visa. Once approved, it lasts for one year but can be extended three times for a total of four years. 

The Nomad Residence Permit isn’t available to European Economic Area countries as EU citizens already have freedom of movement. This means they can already move to Malta if they wish with no obstacles. 

One requirement for applying for the visa is that your source of income is from outside Malta, and if you are successful, Malta offers 0% tax for the first year and then a flat 10% tax for each year after that.

Malta also has a number of agreements with other countries so that you can avoid double taxation! There is more about this below.

Nomad Tax Rate of 10% (Comparison)

After the first year, where digital nomads benefit from 0% tax, the tax rate for those under the Maltese Digital Nomad Visa has been set at 10%, which has to be one of the most attractive reasons for applying for the visa.

For comparison, if you live in the UK,  after your £12,500 tax free personal allowance, you are expected to pay 20% income tax in the UK on everything in between £12,571 to £50,270.

So, the minimum required amount to qualify for the Malta Digital Nomad Visa is €42,000, if you consider just those earnings the total tax paid over two years in Malta and in the UK is as follows:

Malta: Year 1: €0, Year 2: €4,200 for a total tax of: €4,200

UK: Year 1: €5,490, Year 2: €5,490 for a total tax of: €10,980 (more than 2x Maltas taxes)

And Malta only looks more beneficial as the time frame and amount of earnings increase.

If you increase the time frame to three years and the earnings to €62,000 per year then the total tax over three years in Malta is €12,400, and the total tax over three years in UK is €35,700.

This obviously makes Malta’s 10% tax rate a very attractive proposition as you will be able to retain at least two times, even three times as much earnings, which can make a real difference to your lifestyle.

Being able to potentially cut in half or even quarter (at the higher earnings) the taxes you pay for up to four years could provide a massive boost to your financial situation, and it definitely renders the digital nomad visa an attractive option for those who have the flexibility and meet the requirements.   Additionally, if you stay in one of the number of private rooms at Evolve Coliving, you will be surrounded by likeminded people in their 30’s, all living the good life in a huge villa with a pool, gym, jacuzzi, coworking and premium wifi ❤️ It’s worth nothing our leases are also suitable for the digital nomad visa!

Accommodation for Longer-Term Nomads

There are a number of accommodation options for people who qualify for the Malta Digital Nomad Visa, but Evolve Coliving provides an unmatched offer for digital nomads.  Being new to a country can be hard, but living in an amazing villa with other digital nomads, remote workers, and entrepreneurs can really help you feel right at home.

We have provided leases for many digital nomads who have successfully applied for the digital nomad visa, and we have an in-depth guide to applying.

And considering the excellent facilities, including a beautiful pool, outdoor gym, rooftop hot tub, shared coworking, premium wifi and 1268m2 of shared space at Evolve’s accommodation in San Gwann, this is a no brainer. So feel free to fill out the form for more info!

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Malta’s Double Taxation Agreements

One of the things that sometimes puts people off changing where they are resident for tax purposes is the potential for being charged tax twice by different countries and being liable to pay both. Thankfully, Malta has reciprocal taxation agreements with many countries that avoid double taxation on the same income. 

Malta has agreements with the UK and many other countries, 60 of which are currently in force and 10 to be enacted shortly. It is advisable to check whether your home country has agreements with Malta and to take advice from an accountant on how best to proceed.

Nothing on this website constitutes financial advice and professional advice should be taken to help you navigate your situation. But here is a list of Malta’s double taxation conventions to get you started.

The USA is one of the most difficult countries when it comes to its citizens working abroad, so special care should be taken by those coming from the USA to ensure that they are abiding by the tax regulations.  

The US Government expects its citizens to file US taxes, even if they no longer live there, and this can make life difficult for those who have moved abroad. There are accountants and tax advice services that can help to ensure you are getting this correct. 

Places to Explore in Malta

You will be happy to know that we have curated a tell all Ultimate Insiders Guide To Malta!

This goes deep into everything we recommend on the beautiful little rock off the boot of Italy.

But for an overview, Malta is full of rich history, UNESCO sites, beautiful beaches, great bars and restaurants, lots of lively nightlife, and some great festivals.  Also, being an English-speaking country with 300 days of sun, the beautiful, warm, crystal clear Mediterranean sea, great taxes and home to a vibrant community of amazing digital nomads make Malta a very exciting choice.

When you come, be sure to check out Valetta, The Three Citys, Mdina, the beaches around Mellieha, Gozo and the Blue Lagoon in Comino. But more than anything, Malta is all about the laid back, chilled out lifestyle, so be sure to take a breath and enoy the experience ❤️

What about if I want to relocate to Malta under a different visa?

There are several ways to relocate to Malta, whether you do so without a visa or whether you want to come under a different visa that allows you to work in Malta. Below are a few great tax systems you can benefit from if you do it either of these ways instead.

What Are Corporate Tax Refunds?

A Maltese company’s corporate tax is 35%, but the tax refund system effectively reduces this rate to just 5%. How does it work?

Profit Distribution: After your company pays the 35% corporate tax on its profits, you need to declare a dividend distribution to the shareholders.

Tax Refund Application: Your accountant will prepare and submit the necessary forms to the Maltese tax authorities to claim the 6/7ths refund on behalf of the shareholders.

Refund Processing: Once the application is submitted, the tax authorities will review it, and if everything is in order, the refund is processed and paid out to the shareholders.

This means you can pay just €5,000, or 5%, on €100,000 profit. This system, combined with Malta’s extensive double taxation treaties, makes the country an attractive location for international businesses.

No Wealth, Inheritance or Gift Taxes

Another amazing benefit of Maltas taxation system isthat there is no inheritance or gift taxes. That means if you are looking to retain as much wealth as possible within your family, then Malta becomes a desirable destination to those who are approaching the later stages of their lives and are thinking along these lines.

Government Grants and Tax Incentives

Because Malta is a small country, it can be nimble in targeting grants and tax incentives to encourage business development. It is very competitive in the gaming, technology, and finance sectors. Much of its effort is focused on attracting this valuable foreign inward investment. This is great news for any nomads who may have companies that undertake work in these areas. 

High Net-Worth Individuals

Malta has opted to take a modest share from a larger pool, making it an attractive location for many businesses and high net-worth individuals. The philosophy is that collecting small contributions from many sources will yield more in the long run than trying to take a bigger share from fewer opportunities.

This approach enhances Malta’s appeal as a business-friendly environment where many can thrive while contributing to the country’s economy.

Original Source: https://evolvecoliving.io/blog/tax-benefits-digital-nomads-malta/

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Key Benefits of Working in Malta with a Digital Nomad Visa

Malta's digital nomad visa offers safety, a welcoming community, and ideal weather with 300 sunny days. The island provides reliable high-speed internet, affordable living costs, and great tourist attractions like Valletta, Sliema, and Gozo. To get more information, visit us!