14.05.2025
Are you thinking about starting your own business or stepping into the world of freelancing in Malta? Whether you’re a creative professional, a consultant, or simply want more independence, self-employment can be an exciting and rewarding path. But let’s be honest, navigating the paperwork, tax requirements, and regulatory landscape can feel overwhelming. As a dedicated accounting firm specialising in supporting self-employed individuals in Malta, we’re here to help you every step of the way. In this guide, we’ll break down the essentials of self-employment and provide useful tips to set you up for success.
What Does Self-Employment in Malta Mean?
In Malta, being self-employed means you operate as a sole trader or freelancer, responsible for your own business activities. This includes:
- Registering your business
- Obtaining a VAT number
- Paying social security contributions
- Keeping accurate financial records
- Filing regular tax returns
While this offers incredible freedom, it also comes with responsibilities.
The Benefits of Going Solo
Why do so many people choose the self-employed route? Here are some key advantages:
- Flexibility – Set your own hours and choose your clients.
- Independence – Make decisions without needing approvals.
- Growth Potential – Build your business and increase your income over time.
- Lower Setup Costs – Starting out as self-employed is generally more affordable than forming a company.
Steps to Becoming Self-Employed in Malta
Getting started is easier when you know what to expect. Here’s a step-by-step overview:
- Register as Self-Employed
Sign up with Jobsplus and the Commissioner for Revenue. - Obtain a VAT Number
Required if your annual turnover exceeds the threshold or if you deal with VAT-registered businesses. - Social Security Contributions
Pay NI contributions based on your earnings. - Maintain Financial Records
Keep track of income and expenses for tax and compliance purposes. - File Your Tax Returns
Submit your income tax and VAT returns on time to avoid penalties.
Common Challenges for the Self-Employed
Being your own boss is great—but it’s not without hurdles. Some common challenges include:
- Financial Management
Many struggle with budgeting and cash flow. Using accounting software and keeping separate business accounts helps. - Time Management
Balancing client work with admin tasks can be tricky. Set a clear schedule and don’t hesitate to outsource. - Understanding Tax Laws
Malta’s tax system can be complex. Professional advice ensures compliance and helps you avoid costly mistakes.
Helpful Tips for a Successful Start
Here are some tried-and-tested tips to help you succeed as a self-employed professional:
- Analyse your market and define your target customers.
- Draft a business plan to guide your growth.
- Budget carefully—especially in the first few years.
- Explore funding and grant schemes like Microinvest.
- Consider working from home or using a virtual office to cut costs.
- Prioritise accounting and tax deadlines to avoid fines.
- Focus on your core work—delegate admin and back-office tasks when possible.
How We Can Help You Thrive
At Accounting Services, we offer tailored support for self-employed individuals in Malta. Here’s how we can assist:
Accounting Services – Bookkeeping, VAT, payroll, tax filing, financial reporting, and budgeting.
Accounting Administration – Offload back-office tasks to avoid backlogs and stay compliant.
Business Advisory – Financial planning, forecasting, and expert guidance to grow your business.
Funding & Grants – Assistance in finding and applying for funding schemes that suit your business.
We understand what it takes to succeed as a sole trader or freelancer—and we’re here to make your journey smoother. Choosing to become self-employed is a bold and empowering move. With the right planning and expert support, you can turn your vision into a thriving business. Whether you’re just starting out or looking to optimise your current setup, our team is ready to help you every step of the way. Call us on +356 2704 0903 or email us at info@fairwindsmanagement.net Let’s make your self-employment journey in Malta a successful one
Fairwinds Management Limited is a MFSA licensed firm offering Business Solutions in Malta. As part of our services, we offer Accounting, Administration, Corporate and Legal solutions. Fairwinds Management also manages the brand Accounting Services. More information about us and our key services please visit our website. You may reach Fairwinds Management on +356 2704 0903 or info@fairwindsmanagement.net.
Article written by Ms Charlene Sciberras, B.A. (Hons), guest writer, a marketing and business administration specialist with a special focus on corporate, accounting, and legal matters.