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5 NEWS 3.6.2021 MATTHEW VELLA OWNERS of a company conducting business activity, remote workers and freelancers offering consulting services to international clients, can now become digital nomads in Malta. Malta sells citizenship to the global elite for €1.1 million, but is now giving non-EU nationals a one-year residence permit – dubbed the 'nomad residence permit' – to work remotely in Malta for €300. "is initiative will see Malta jump on the bandwagon of increased demand for remote working globally, as the pan- demic shifted goalposts and new trends are being set. Individuals who can work remotely using technology and entre- preneurs with a flair for travelling and discovering new countries and cultures are being made welcome in Malta," par- liamentary secretary for citizenship Alex Muscat said. He boasted of Malta's mild climate, English-speaking workforce, rich his- tory and excellent healthcare, and ex- plained the rationale behind the new residence permit for itinenerat non-EU nationals seeking easy access to the eu- rozone. "e new Nomad Residence Permit is yet another initiative taken to attract for- eign consumption in Malta," he said. To be eligible for the Nomad Residence Permit, applicants must prove that they can work remotely and independent of location, using telecommunications technologies. In addition, they must be third country nationals. e applicants must prove that they fit under any one of the three following cat- egories: a) work for an employer that is reg- istered in a foreign country and have a contract of work; b) conduct business activity for a com- pany that is registered in a foreign coun- try and of which applicant is a partner/ shareholder; or c) offer freelance or consulting servic- es mostly to clients, whose permanent establishments are in a foreign country, and with whom the applicant has con- tracts. Moreover, applicants must reach a monthly income threshold of €2,700 gross of tax. Additional eligible family members will have thresholds set in line with Residency Malta Agency Policy. Standard rules and procedures for ob- taining visas and similar permits will also apply, in addition to the proof of eligibil- ity. As opposed to the Single Work Permit, the Nomad Residence Permit enables holders to retain their current employ- ment based in another country whilst le- gally residing in Malta. is may also be renewed at the discretion of Residency Malta Agency, as long as the applicants still meet the set eligibility criteria. Nomad Residence Permit holders will not be subject to personal income tax since their employment is already taxed at origin. Nonetheless, they will be sub- ject to consumption tax like all other res- idents. Self-employed individuals offering their services to companies registered and based in Malta would need to pay taxes in Malta and apply for a residence permit based on their self-employment. People willing to move Charles Mizzi, CEO of Residency Mal- ta, said that the COVID-19 pandemic had shown that people are willing to move more than ever before. "Early to recognise the signs, Residen- cy 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," he said. "e process is simple and we promise an efficient service that discern- ing nomads expect." Anton Sevasta, CEO of Identity Malta Agency said that the new visa service to nomad applicants was part of the new Premium Visa Service which Identity Malta Agency will be launching in the coming weeks. "e service is a door-to-door option intended for highly skilled professionals in order to streamline the process with- out compromising the due diligence pro- cess," he said. Non-EU remote workers can get one-year residence under €300 'nomad permit' ATLAS Insurance has added COVID-19 to its travel insurance product offer. is will ensure that travellers insured with Atlas will be covered in relation to certain COVID-19-related difficulties. Such cover is available under the Atlas Travelpak policy at no additional cost to the regular pre- mium, and is intended to provide coverage in circumstances of can- cellations and other eventualities due to a number of circumstances resulting from COVID-19. "With several countries achiev- ing encouraging results in the fight against COVID-19, it was only normal that people are now starting to consider their trav- el plans again," Matthew von Brockdorff, Managing Director and CEO of Atlas Insurance PCC Limited, said. "For this reason, Atlas Insurance has upgraded its Travelpak policy, by offering coverage for travellers who might be faced with COV- ID-19-related difficulties when abroad. e product will certainly provide the needed peace of mind to our customers, who are eager to travel once again." e Atlas COVID-19 cover will allow travellers to claim any can- cellation expenses if they con- tract COVID-19 in the fourteen days before they are due to trav- el. Travellers will also be covered if they will be denied boarding because they are told that they are showing symptoms of COV- ID-19. e COVID-19 cover will also allow travellers to claim expenses for a missed departure due to an unusually long delay for results to be received, or cancellations due to a close relative, travelling companion or host abroad con- tracting COVID-19. Travelers are also covered if they are forced to quarantine or hospitalised due to COVID-19 while abroad. More information is available at www.atlas.com.mt/insurance/ travel/, or through telephone 2343 5363 or email: insure@atlas. com.mt Atlas Insurance to include COVID-19 coverage under travel policy

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