Malta is highly taxed at 25 to 35 % for income for residents; social security is about 200€ a month. Except if you set up a company and you are the CEO, then after having paid the "secretary" and ancillary costs ( around 5 to 7000 a year), you will end up with only 5% of income tax, the set up of the company itself will be around 5000€ for a proper one.