Digital Nomad Business Ideas

When thinking of digital nomad business ideas, Malta presents itself as an ideal place to form a company as a digital nomad with your own business. An ever-growing population of go-getting entrepreneurs are exploring creative approaches to work. The advent of digital technology has made it possible for professionals to conduct business with just a web connection, allowing countless individuals to chase their dreams regardless of where they are in the world.

Types of work as a digital nomad

Freelance work

For those with an entrepreneurial spirit, taking the plunge into freelancing is now faster and simpler than ever before. Whether you’re a consultant, web designer, accountant, or software developer, all you need is a laptop and an internet connection to kickstart your career.
The low overhead costs and minimized potential for risk are often seen as major advantages – which makes freelance work attractive for many people. However, it’s important to remember that this type of self-employment requires running your own business. This means having basic business knowledge, marketing strategies and accounting proficiency to invoice customers properly and take care of taxes in Malta. Unfortunately, some individuals may not realize this fact until they’ve already launched their independent venture without establishing any distinct legal or capital structure first.

An alternative digital nomad business idea

The downside of this kind of digital nomad company structure is that once you start selling products or offering services, you can be held liable for any issues that arise. To safeguard your personal assets and make sure your business runs professionally, it’s best to set up a formal business entity. This way, you’ll keep your personal finances separate from those of the company.

Malta offers an attractive place for digital nomad business ideas

Malta offers an incredibly appealing corporate environment, boasting vast tax reliefs and over 80 double taxation treaties. It also offers a highly skilled, multilingual workforce where English is one of the official languages, and Italian, French and Spanish are widely understood. Not to mention its EU membership since 2004, granting access to numerous advantageous opportunities.

What types of companies?

Malta provides the ideal business climate to establish public and private limited companies, as well as holding companies that offer exceptional tax efficiency and unparalleled flexibility with EU compliance. Furthermore, trusts and foundations should also be considered.

Do I have to live in Malta?

When it comes to forming a company in Malta, Papilio Services can provide the support and guidance needed for meeting the necessary requirements of substance. This means as a digital nomad, you don’t need to be a resident of Malta, leaving you free to travel the world. Having a clear definition of management and control of a business is essential when setting up overseas. During a free consultation, we will discuss a full list of suggestions.
Our experience has shown that every company will have its own unique set of needs, so it’s important to be aware of what steps need to be taken for compliance. To ensure this process runs smoothly, you’ll require a registered office in Malta that can deliver documents securely to directors, shareholders, and officers. Securing an office overseas may seem daunting but here at Papilio Services, we strive to make the setup process as straightforward as possible. As certified providers, we can offer our services of a registered office. Our team can guide you through all aspects involved when opening your business abroad.

What about tax in Malta?

The Malta corporate tax system offers a unique set of advantages for companies incorporated or managed and controlled within the jurisdiction. Although the 35% standard rate of corporate tax is relatively high in Europe, though this can be further reduced to an effective rate as low as 5% through various legal provisions found within Malta’s taxation laws. This is done through a tax refund mechanism where foreign stakeholders in Maltese companies are able to claim up to a 6/7th refund on any corporate taxes paid – effectively allowing them to take advantage of a much lower rate than that which normally applies.

Being a digital nomad with your own business is an exciting and rewarding experience that offers the flexibility and freedom to live wherever you want while still working on something that you are passionate about. If this sounds like the lifestyle for you and you’re thinking of digital nomad business ideas overseas, consider forming a company in Malta. Contact us for more information.