With the rise of serial entrepreneurs and remote working professionals, co-working spaces are the flavor of the season.
There is no doubt that the Coronavirus Pandemic and the subsequent ‘Great Resignation’ movement showcased that it would be difficult for big and small companies to get their employees back into a formal office setup.
Every major publication, from Forbes to Wall Street Journal, cited the reservations of professionals regarding going back to the office.
When companies were forced, these professionals started resigning and opting for businesses that would allow them to work remotely from either their homes or any other part of the world.
Another concept that gained a lot of traction during the period was the emergence of ‘Digital Nomads’. These are professionals, self-employed individuals, start-up founders, and entrepreneurs that prefer to work remotely from co-working spaces. This led to increasing demand for co-working spaces that combined flexibility with exotic locations!
In this article, we are going to discuss one of the hottest destinations for remote working professionals, Malta. Specifically, we are going to look at the pros and cons of working from a co-working space in Malta.
If you are a professional that is looking for a new destination to shift to and carry on your remote work from there, then this article is going to help you.
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Malta’s Co-Working Spaces: Let’s try to understand the attraction
Think sunny beaches, lax tax structures, a progressive residency program (NRP), excellent co-working spaces like sohomalta.com, and you get our drift…
The idyllic island nation nestled in the Mediterranean has long been in the news for being one of the top international destinations for ex-pats. With the pandemic, a new change of sorts is being witnessed. More and more professionals and start-ups are migrating to Malta.
The following are some of the major reasons for the same-
- Malta has one of the world’s highest vaccination rates. More than 81% of the Maltese population is completely vaccinated.
- It is one of the very few countries in the world that has rolled out a comprehensive 5G Network for everyone.
- There is no Personal Income Tax for anybody working in Malta. You just need to pay VAT on goods and products.
- There is a pro-business government that encourages professionals and entrepreneurs to set up a base in Malta.
- Affordability in terms of co-working spaces that provide great amenities and flexibility at a fraction of the costs.
Pros of Working from a Co-Working Space in Malta
In this section, we are going to list down some of the major pros of working from a co-working space in Malta.
- Malta’s co-working spaces, especially the best ones like SOHO, offer great flexibility in terms of different seating arrangements. You can choose between Private Offices (best for small businesses), Dedicated Desks (Entrepreneurs), and Hot Desks (Professionals). You get flexible arrangements that are affordable in nature.
- You can choose to work in a co-working space in the urban capital city of Valetta. This allows you to enjoy the busy nightlife and cosmopolitan life of Malta. Or, you can choose peace and tranquility by looking for a co-working space in Gozo. This is a bit more laid back and allows you to work with a relaxed kind of a vibe.
- The presence of a cosmopolitan working population drawn from different parts of the world allows you to network well. You can bounce off ideas from others that are working in the co-working space with you. Ultimately, this social community can help you grow both personally as well as professionally.
- Co-working spaces in Malta, at least the best ones, do not lack modern amenities. You get 24×7 access, 5G connectivity, coffee machines, security as well as recreational spaces. In most instances, whenever you get a membership, you are entitled to use every amenity that is on offer from the co-working brand.
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Cons of Working from a Co-Working Space in Malta
When compared to the pros of working from a co-working space in Malta, the cons are few and far between. However, it would be fair that we list them in this section-
- Malta is a small island nation. At some point or another, you might get bored and start missing the hustle and bustle of a big city. This problem affects professionals that come from cities like New York and London and are more used to a fast-paced life.
- As a remote working professional, you will have to continue paying taxes in your home country even when you secure Malta’s Nomad Residency Permit. This means that you will continue to pay taxes as well as start paying Malta’s VAT.
The Bottom Line
Apart from these cons, which we feel are negligible in nature, Malta can be a great destination for someone looking to take things a bit slow. Given how the pandemic affected us, it might just be in our best interest to retreat to Malta and start working once again. If you have any more questions you would like us to address on co-working spaces in Malta, please reach out to us in the comments section below.
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