Rivermate is a global employment solutions company that provides Employer of Record services in Malta.As an employer of record, we help you hire employees and run payroll services in Malta, allowing you to avoid the necessity of first establishing a branch office or subsidiary in Malta.It is not necessary to establish an entity in order to hire an employee. We can hire your employee in any country with a few mouse clicks. Using our Employer of Record solution, you can have full compliance, benefits, and automated payments.If you wish to hire a remote team in Malta or individually hire remote employees in Malta, Rivermate’s global employer of record services will make sure that the process will be as seamless as possible for you.Send us a message so we can talk about how Rivermate’s Employer of Record Malta services can best help your company!
Malta is an island country in the Mediterranean Sea. Malta's economy is quite advanced for an island. It is a beautiful place with vibrant destinations that is ideal for tourism. This country's fishing and tourism industries are thriving. These two industries are the engine of the economy. Malta is recovering from the pandemic's impact.Malta's job opportunities have increased over the last decade. People all over the world have begun to recognize Malta's excellent market. Since the pandemic, Malta's inflation rate has risen, and it will take several years to return to pre-pandemic levels, if not lower.
Malta's cost of living is $1275, which is 1.37 times higher than the global average. Malta ranked 33rd out of 197 countries in terms of cost of living and 54th in terms of quality of life.In Malta, the average salary after taxes is $1234, which is enough to cover living expenses for one month.
Over the last decade, the cost of living in Malta has risen. It is a developing country that, to the best of its ability, provides a high standard of living. The growing interest in Malta among recent graduates and new job practitioners has contributed to the rising cost of living. Some cities have very low cost of living, whereas others require a large paycheck to live in.Renting in Malta is more expensive than in most other countries with similar economies. A house in the city center can be rented for an average of US $1073.83 (€ 900). The cost of rent varies depending on the location and size of the housing facility. It also depends on the amenities available in and around the housing facility. Every city in Malta is known for its distinct strength. The location influences job opportunities, lifestyle, quality of life, and, most importantly, the cost of living. Many prospective residents are considering relocating to Malta.Tier 1 cities include metropolitan areas such as Città Pinto, Città Hompesch, and others.Tier 2 cities include upcoming centers such as Città Beland, Città Ferdinand, and others.Tier 3 cities include Città Vittoriosa, Città Cospicua, and others with significant growth potential.
The transportation sector has constructed inland and outland transportation facilities for public use as well as foreign and domestic trade. The transportation sector contributes significantly to Malta's GDP. Ports, harbors, highways, aerial landing pads, and airports are being built all over the country.Malta's tourism industry is a major source of revenue. Every year, over 1.6 million tourists visit Malta. In Malta, the number of tourists outnumbers the number of residents. This figure has dropped dramatically in the last year as a result of travel restrictions imposed due to coronavirus.Large commercial banks have been in operation in Malta since the nineteenth century. Malta's financial sector is well-equipped to handle complex relationships. Opportunities in Malta's finance sector are always available. Malta's finance sector must be strong because it is an advanced economy.
The cost of hiring is a mandatory facet for every employer. The process of hiring requires the allocation of resources. This allocation is done on following aspects –- Advertisement of the opportunity- Time required in the process- Selection of an ideal candidate- Onboarding process
Employment laws in Malta are based on the people's social, personal, political, economic, environmental, and other rights. The Employment and Industrial Relations Act establishes the legal framework. Some of the factors being considered are as follows:- Rates of wages- Hours of work- Paid holidays- Notice periods- Period of probationThe employment relationships in Malta are governed by the regulations laid out by –- The employment contract- Legislation (Primary and Secondary)- Public Service Management Code (PSMC)- Collective agreements of the hiring enterprise
Malta's market includes a variety of industries. This necessitates the use of multidisciplinary, skilled individuals. Malta seeks manufacturers, technicians, programmers, and other experts to fill positions in its market. Some of the technical skills that Malta is looking for in its sectors include cloud specialization, software expertise, and front-end development.If you are an employer and are interested in hiring from Malta, these are the top industries in Malta:- Nursing- Teaching- Technicians- Engineering- BusinessEvery city in Malta has a distinct identity. A specialization that expands job opportunities. The hiring rate is determined by the location and the demand for that location. The workforce requirements of seaside cities differ from those of inland cities. As a result, the top skills in Malta can be determined based on the city's location.
Malta has a developed economy. It has a GDP per capita of $48,246 (€ 40,410.85) and a purchasing power parity of $22.802 billion (€ 19.10 billion). Malta has a nominal GDP of $15.134 billion (€ 12.68 billion) and a per capita income of $32,021 (€ 26,820.79). Foreign trade contributes significantly to Malta's economy.
Malta has a large limestone reserve. It is a valuable commodity that contributes significantly to the national economy. The Suez Canal, located near Malta, stimulates trade, fishing, and tourism. The Malta Financial Services Authority is involved in most of the country's financial businesses and oversees the private sector.
Malta recently increased its minimum wage by 155 Euros per month beginning in 2020. Employees must now earn 777 Euros per month. Employers must pay their employees in cash or with a check that can be cashed at a Maltese bank. Employees and employers usually agree on a salary payment schedule, such as weekly, biweekly, or monthly.
