14 Mar 2025
Moving abroad as a Pakistani expat—whether for work, study, or a new adventure—is exciting but comes with financial challenges. From navigating cross-border money transfers to managing living costs in Malta, every euro (or Pakistani rupee) counts. In this guide, we’ll break down practical strategies to help you stretch your income, save smarter, and send money to Pakistan from Malta securely to loved ones back home.
Malta, a sunny Mediterranean hub, attracts expats with its English-speaking workforce and affordable living compared to other EU countries. However, as a Pakistani expat, you’ll need to adapt to Malta’s banking systems, tax rules, and currency dynamics. Here’s what to know:
Malta uses the euro (€). As of 2023, €1 ≈ PKR 300 (subject to fluctuations).
Monthly expenses for a single person average €800–€1,200, with rent for a 1-bedroom apartment in Valletta costing €700–€1,000.
Pakistan received $29.4 billion in remittances in 2023 (State Bank of Pakistan), with Europe contributing 24% of inflows.
A strategic financial setup for Pakistani expats in Malta involves a dual-account approach. This allows for efficient management of everyday expenses in Malta while maintaining strong financial ties to Pakistan.
Having both a Maltese and a Pakistani bank account simplifies managing finances. For example:
Use it for salary deposits, bills, and daily expenses. Maltese banks like BOV (Bank of Valletta) offer expat-friendly services.
Keep one active for family support, investments, or future plans. Opt for digital banks like JazzCash or EasyPaisa for instant access.
Pro Tip: Avoid frequent ATM withdrawals in Malta with a foreign card; transaction fees add up!
Sending money home shouldn't break the bank. For Pakistani expats in Malta, understanding the cost-effective alternatives to traditional bank transfers is crucial. Discover how online platforms can significantly reduce fees and ensure your hard-earned money reaches your loved ones safely.
Want to send money from Malta to Pakistan? Traditional methods like bank wires charge high fees (up to €30 per transfer). Instead, use online platforms like ACE Money Transfer.
Stat Alert: Online transfers save expats 15–20% in fees compared to banks (World Bank, 2023).
Adapting to Malta’s costs:
Sticking to a budget ensures you don’t overspend on Malta’s temptations (hello, seaside cafés!). Try the 50/30/20 rule:
Malta taxes residents on worldwide income, but Pakistan has a Double Taxation Agreement (DTA) with Malta. Key takeaways:
Stat Alert: Malta’s personal income tax rate ranges from 0–35%, depending on income brackets.
Explore these options:
Avoid Scams: Research Malta’s MFSA (Financial Services Authority) registry before investing.
Whether you’ll retire in Malta or return to Pakistan, start early.
Join communities like Pakistanis in Malta (Facebook groups) or the Malta Pakistan Business Council for tips on:
Living in Malta as a Pakistani expat is a golden chance to grow personally and financially. By optimizing remittances (remember to send money online to Pakistan from Malta for better rates), staying tax-savvy, and investing wisely, you can secure your future while supporting loved ones back home.
Need help? Book a free consultation with Malta’s expat finance advisors or use apps like Revolut to track spending. With the right strategies, you’ll thrive, no matter where life takes you next!
Use online platforms like ACE Money Transfer for low fees and mid-market exchange rates. Avoid banks and traditional services for large transfers, as their fees can eat up 5–10% of your amount.
No! Pakistan and Malta have a Double Taxation Agreement (DTA), meaning you won’t be taxed twice on the same income. File returns in Malta if you’re a resident (staying >183 days/year) and declare foreign income in Pakistan if you retain citizenship.
Yes! Most Maltese banks, like BOV or HSBC Malta, allow expats to open accounts with proof of address (e.g., rental agreement) and a valid passport. A local account helps avoid foreign transaction fees on daily expenses.
Consider Malta’s government bonds (2–3% returns) or Pakistan’s Roshan Digital Account (RDA) for Sharia-compliant investments. Always verify providers through Malta’s MFSA registry to avoid scams.
A single person spends €800–€1,200/month, including rent. Save by shopping at budget stores (Lidl), using public transport (€1.50-€2/ride), and cooking Pakistani staples like lentils and rice bought from Asian markets.
