Remote work sounds amazing, does it not? It is fun to work while exploring remote countries at leisure. Malta is one of the favorite spots for digital nomads. However, planning a trip to Malta can be very expensive if you don't budget it well. 

From planning the trip to booking tickets, finding accommodation to, exploring the best foods, and exploring the archipelago's greatest spots, you need to plan everything and have a budget so you don't worry about the expenses while enjoying the beautiful sunsets in Sliema or experiencing serenity in Gozo.  

You can make the most of your trip with a digital nomad visa Malta and a proper budget. 

In this guide, you will find some very helpful budgeting tips to plan your remote work adventure in Malta.

Why Choose Malta as a Digital Nomad?

The question should be why not choose Malta? There are hardly any reasons not to choose Malta and many reasons to spend a lot of quality time in this beautiful country. Here are the reasons:

Attractive Digital Nomad Visa: The Digital Nomad Visa Malta allows non-EU remote workers to live in the country for a year, with the option to renew.

Low Tax Regime: With tax-friendly policies, Malta is financially appealing for digital nomads.

English as an Official Language: As English is the official language, you will find no language barrier, and you can easily be a part of the community here.

Reliable Internet Infrastructure: Malta offers a robust infrastructure and good internet connectivity to ensure you can work without hindrance.

Sunny Climate and Mediterranean Lifestyle: With 300+ days of sunshine, Malta offers the perfect scenery to enjoy and work. 

Now that you know why you should choose Malta as your next destination, move on to the next and very important part of the guide.

Budgeting Tips for Digital Nomad

Here are some important things that should form part of your budget:

Understand the Accommodation

The best way to save money on accommodation is to choose a coliving in Malta. These are luxurious places designed especially for tourists and digital nomads so they can live without worrying about mundane things like cleaning and changing bulbs. They also offer gyms and pools, a luxury you can't have in a rented apartment.

If you choose a coliving, your monthly expense will be approximately €500-€900, which is a very affordable option. You can also rent an apartment, but the cost varies greatly depending on the location and amenities. The cost ranges between €800-€1500. 

Food and Groceries

When you are in a new place, you must enjoy the cuisine, but it is advised that you do it in moderation. If you have a kitchen, it is advised that you cook your meals. Groceries cost you approximately € 400 per month, while one meal in a mid-range restaurant costs you €10-€20 for a meal. You need to balance your meals to ensure that you don't go overboard and do not compromise your health with too many street foods.  

Coworking Spaces

Many digital nomads struggle with their budgets due to the extracurricular activities they do not plan properly. Some don't manage their work and play time and thus have a strained budget.

The best way to manage work and budget is to find a good coworking space. Valletta, Sliema, St. Julians, etc., have some good coworking spaces that offer hot desks and dedicated desks at very affordable rates. This way, you can dedicate certain hours to work and schedule a good activity for the rest of the day. Determine your best working hours and dedicate the rest for fun. It also depends on which city you are visiting. For example, you don't want to work as a night owl in St. Julian's, known for its exotic parties. So, explore before planning and scheduling.

Transport

While the idea of exploring Malta in a private car is tempting, it is advised to use public transport, which Malta boasts of. The public transport pass is only €26 per month, which is great to visit all the nearby places. Car rentals are also an option to explore specific sceneries.

Understand Visa and Tax Complications

As a digital nomad, your income is not taxable if it is not remitted to a Maltese bank account. However, if you plan to stay in Malta for more than 183 days a year, you will be considered a tax resident. So, understand the tax implications to ensure compliance.

Conclusion

A Malta digital nomad visa is the best option to enjoy a long vacation while working. Financial planning is key to making it work. By budgeting wisely, taking advantage of cost-saving strategies, and making informed decisions about accommodation and expenses, you can enjoy the best that Malta has to offer without breaking the bank.