Nowadays Malta has become a popular destination for expats looking to relocate. Malta is a small island in the Mediterranean known for its rich history, amazing coastal views, and a unique blend of different cultures. Many people are drawn to the idea of living in Malta due to numerous factors including career opportunities, safety, LGBTQ+ acceptance and of course the sun!
In this article, we take an in-depth look at the process of moving to Malta and cover key aspects such as visa requirements, the cost of living, settling in with housing, and managing your finances in Malta.
Visa and residency requirements
The process of moving to Malta varies significantly depending on citizenship. For EU citizens, the process is relatively simple, as they have the right to live, work, and study in Malta without requiring a Visa, as per the EU’s freedom of movement. However, for stays longer than three months, registration with local authorities is required to obtain a residence permit, as outlined by the Residency Malta Agency.
There are several residency programmes with specific requirements available for non-EU citizens looking to move to Malta. The Malta Permanent Residence Programme requires investment in property and government contributions, while the Global Residence Programme offers special tax status for non-EU nationals who purchase or rent property in Malta.
Other options include work permits for those who already have job offers. The Nomad Residence Permit is a specific scheme which enables relocators to retain their employment while legally residing in Malta, which is highly applicable for people that can do their job remotely, no matter what the location.
Cost of living
Malta’s cost of living is notably lower than many Western European countries, making it an attractive location for expats. According to Numbeo, as of March 2025, a family of four’s estimated monthly costs are €2,797 without rent, and a single person’s costs are around €769 without rent. This is 22.5% lower than the US, with rent being 39.1% lower on average.
Specific costs vary depending on the location. For instance, Sliema is 40.4% less expensive than New York without rent, and rent there is 68.9% lower. Groceries can be affordable, especially at vegetable wagons and farmers’ markets, with monthly grocery costs for a couple amounting to around €300.
Housing in Malta
Housing options in Malta include renting and buying, with prices varying by area. Renting a one-bedroom apartment in the city center ranges from €800 to €1,200 per month, while outside the center, prices are €600 – €900. Buying property is a good investment, allowing foreigners to purchase without permits, as per CSB Group’s insights. Real estate prices depend on location, with rural areas being cheaper.
Save costs on healthcare
Healthcare is one key benefit when living in Malta. Malta’s healthcare system is publicly funded and free for residents contributing to social security, covering government clinics and hospitals. Private healthcare is also available, with GP and specialist visits costing approximately between €20 and €50. It is highly recommended for both locals and expats to have a dedicated health insurance policy for peace of mind and additional coverage in unexpected occurrences.
Studying in Malta
The Maltese education system offers a blend of different schools for different financial institutions. State schools are completely free, church schools require a donation, while private schools come with a yearly fee typically between €3000 and €6000.
The University of Malta holds over 11,000 students, of which around 6% are international. It offers courses primarily in English, making it accessible for both locals and expats.
Transportation
Public transportation in Malta is free and primarily bus-based, covering the entire island, with services running until midnight. Ferries also connect to Gozo and Comino.
Driving is common, but traffic can be congested during rush hours, and parking in central areas is challenging. Car rental or purchase is an option, with costs varying based on the vehicle. You can also opt to move around Malta using ride-hailing apps like Uber and Bolt, which offer both convivence and cost-effective way of getting around Malta.
Culture and lifestyle
Malta is bilingual, with Maltese and English as official languages, facilitating communication for expats. The crime rate is low, contributing to a safe environment. The island offers numerous historical sites like Mdina and Valletta, beautiful beaches, and a vibrant nightlife, with over 320 sunny days a year and mild winters of above 12°C.
Setting up your finances
If you’re an expat looking to move to Malta, opening a bank account is something you will have to think of. Among the many things on your relocating checklist, it’s important to be aware of the available banking solutions, and luckily, this is not a scarcity in Malta! There are several traditional banks in Malta such as Bank of Valletta and HSBC, that provide local bank accounts, debit and credit cards, lending and more. However, these typically require in-person visits, extensive documentation and lengthy processes, which can be heavily time-consuming for expats.
This is where digital alternatives such as Moneybase provide a faster and smoother solution to managing your finances.
Why choose Moneybase?
Recently endorsed by Expats Malta, Moneybase stands out due to the all-rounded digital platform, allowing account opening in minutes with a unique Maltese IBAN, a gap constantly suffered by expats when seeking to open an account with certain traditional banks in Malta.
Moneybase comes with numerous benefits such as:
- Both app and web versions to manage your finances, from wherever you are
- Easy process to send payments, locally or even abroad in literally seconds
- The best currency exchange rates in Malta, with 24 currencies available, including GBP and USD
- Welcome bonuses, travel savings and cashback offers
- A physical or virtual Moneybase Mastercard, which can be added for contactless payments on Apple Pay, Google Pay, Garmin Pay or Xiaomi Pay
- Access to global and local stocks, ETFs, bonds and funds, with one free trade per month and low-cost trading options
- Robust security measures to protect your finances
- ISO-certified customer support, available 7 days a week through in app live chat, over the phone or at one of our Calamatta Cuschieri Moneybase branches
Opening an account with Moneybase
The process is simple, quick, free and most importantly, fully digital! Download the Moneybase app, provide an identification document (passport or ID), proof of address, and a video to confirm your identity – all via the app itself, in just a few minutes.
Whether you’re already settled in Malta, or still looking to make the move, Moneybase is an efficient digital alternative to traditional banks. For assistance, you can easily speak to our customer support through the in-app live chat, by calling us on +356 25 688 688, or simply visit any of the Calamatta Cuschieri Branchs in Mosta, Birkirkara, Fgura and Sliema.
Payment services are brought to you by Moneybase Limited (MB) C 87193 which is licensed by the MFSA to transact the business of a Financial Institution in terms of the Financial Institutions Act, Cap 376. All investment services are brought to you by Calamatta Cuschieri Investment Services Ltd (CCIS) C 13729 which is licensed by the MFSA to undertake investment services business under the Investment Services Act, Cap 370. Calamatta Cuschieri Investment Services Ltd is a member of the Maltese Investor Compensation Scheme (“Scheme”). Instruments entrusted with us are covered under the Scheme in line with the Investor Compensation Scheme Regulations (S.L. 370.09). The value of investments may go up as well as down and investors might not get back the original amount invested. MB and CCIS are both subsidiaries of the Calamatta Cuschieri Moneybase plc with their registered address situated at Level 0, Ewropa Business Centre, Dun Karm Street, Birkirkara, BKR 9034, Malta.
