Working from home is a term that has been used more and more in the last few years. If you find yourself wondering if it’s possible or even legal to work from home then chances are that some of your friends or colleagues also asked themselves a similar question at some point. So, is it possible? Can you work from home as an employee in Malta?
What does being self-employed mean?
Being self-employed means that you are the boss. You are responsible for all the decisions in your business, from what you do with your time to how much you charge for your services. This can be a great way to work, but it also means that there will be no one looking over your shoulder and telling you what they want to see from you.
This can be hard if you’re not used to being on your own, but it’s also an incredible opportunity. If you’ve got the skills and experience to run a successful business, then you’ll have complete freedom over what happens next!
Do I need to register for VAT?
In Malta, working from home is possible. However, there are some things that you need to be aware of before you actually get started.
First and foremost, you MUST register for VAT if your revenue exceeds €15,000 per year. VAT stands for Value Added Tax, which is a tax that is imposed on goods and services by the government in order to generate revenue. If your business is registered as a sole trader, then it’s not necessary to register for VAT; however, if it’s registered as a limited company or partnership then it will be necessary to register for VAT.
The next thing that you need to consider is whether or not you should incorporate your business into a limited company or partnership. If your revenue exceeds €15,000 per year then it’s highly recommended that you do so because this will protect both yourself and your assets from any potential lawsuits or debts that may arise during the course of running your business. It will also protect your personal assets from creditors who may try to get money out of you by suing them instead of trying their best attempts at recovering their losses through other means such as bankruptcy proceedings against them personally (which can be very costly).
How do I register for VAT in Malta?
When you register for VAT in Malta, you will need to fill out an application form and submit it along with your first payment. You will also need to provide a copy of your business registration certificate and proof that you are a resident of Malta.
The tax authority will review your application, and if they are satisfied that you are eligible for registration, they will issue a VAT number. Once this happens, you will be able to claim back all the VAT that you have paid on purchases related to running your business in Malta.
Where can I work ?
Working from home is possible in Malta, but you may find yourself missing the social aspect of working in an office. Coworking spaces are becoming more popular in Malta, and they offer a great balance between the freedom to work from home, and the excitement of working with other people.