Over the past few years, Malta has ramped up its strategies for developing a healthy digital ecosystem and creating a culture of innovation. Today, it has successfully positioned itself as the Tech Hub of the Mediterranean. This has made it more attractive for innovators, start-ups, and investors alike. It has also created an increase in the demand for specialized skills, drawing in more IT freelancers into the country.
But aside from the vast opportunities for career growth, there are more reasons why freelancers are moving to Malta.
1. General lifestyle
Life in Malta is pretty laid back, making it a welcome contrast to hectic city life in other countries. There’s plenty of sunshine almost all year round and there’s always a beach just a few minutes away. Housing, food, transportation, and healthcare are also relatively cheap and easy to come by. All of these make it easy to enjoy a slow-paced and relaxed lifestyle even while striving for career growth.
2. High Internet speed
With internet speeds of over 120 Mbps, Malta is currently among the top ten countries in Europe with the fastest internet. At this speed, you can download a 5GB movie in just around 5 minutes. This ultrafast connection makes it easy for IT professionals to do their job efficiently.
3. Great geographical location
Malta is located at the heart of the Mediterranean so it’s easily accessible from any place in Europe. For freelancers who love to travel, this country is also an excellent place to set their base. There are plenty of flights and routes to other places that you can conveniently spend a weekend or two in. For example, Paris is just three hours away and a flight to Rome would only take an hour and a half.
4. Business-friendly tax rates
There are several reasons to start a business in Malta. The progressive tax structure of the country is favourable to business entities and freelancers. The tax rate for most individuals is between 15% and 25% while corporate taxes are usually set at around 35%. However, there are tax refund schemes and others support measures that can bring these rates down.
5. High earning potential and a low cost of living
Due to higher skills demand, IT freelancers in Malta earn relatively higher salaries than those in places like San Francisco. Moreover, the cost of living in the country is much lower in comparison with consumer prices and rent costing, which is more than twice in California. This means freelancers get to enjoy a better standard of living in Malta at a lower cost.
Be where the future is
With the giant leaps it’s taking when it comes to technology and innovation, Malta is set to become a haven for IT professionals in the near future. If you are seeking to grow your career in this industry while maintaining a comfortable lifestyle and healthy work-life balance, consider moving to Malta. Grow your career right where the future of IT is.