Malta has launched a residency program for non-EU workers in start-ups in a bid to attract more innovative companies to the islands.
The Malta Startup Residence Programme grants a three-year residence permit, extendable for an additional five years, during which beneficiaries are able to reside in Malta while launching their start-up venture.
Start in Malta points out that more than 25 percent of the island’s workforce are expats from around the world. The government had taken an open approach towards start-ups resulting in the relocation of innovative companies.
“The Malta startup residency programme is another tangible policy step towards increasing our competitiveness in this area,” it said.
“Intended for non-EU nationals, this competitive programme is specifically designed to facilitate the setting up of innovative start-ups and scale-ups in Malta whilst supporting the immigration process of their founders/co-founders, core employees and respective immediate family members,” it said. “Beneficiaries of this programme need to have a tangible presence in Malta (including living and paying taxes locally).”
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