The Malta Global Residence Programme builds on the success of Malta’s reputation in attracting expatriates seeking an alternative residence base in a warm Mediterranean Island in the European Union.
Malta’s EU membership and full implementation of the Schengen Area Treaty offers further attraction on the basis of the ease of travel within the Schengen Area enjoyed by holders of the Malt Global Residence Programme Permit.
Maltese residents are not subject to tax in Malta on foreign sourced income not remitted to Malta or not. Permanent Residents of Malta are entitled to taxation at the flat rate of 15% on remitted income.
Under the Global Residence Programme Rules law, non domiciled residents of Malta enjoy special tax status, a flat rate of 15% on foreign source income.
Malta enjoys over 60 double tax treaties, persons who take up residence in Malta can receive their pensions in Malta free of tax at source and subject to a mere 15%. Malta Global residents also benefit from Malta’s double taxation agreements existing with most European countries, Canada, Australia and the USA, ensuring that tax is never aid twice upon the same income. Overseas capital funds invested locally are of course only taxed on any interest or dividends generated thereon, again at 15% flat rate.
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Applications under the Malta Global residence Programme are open to non-EU, non-EEA and non-Swiss nationals. One application can include the main applicant and his spouse, financially dependent ascendants and other non-family members and dependent relatives that are shown to be bona fide members of the household. Children under the age of 25 are automatically eligible for inclusion. Applicants must demonstrate financial self-sufficiency and must be in possession of valid sickness insurance cover.
Within 12 months of taking up residence under the Malta Global Residence Programme, the residence permit holder needs to comply with the requirement of acquiring or renting property in Malta. Residence candidates are required to demonstrate that an address is available to them in Malta by buying or renting property in Malta.
The application fee for this programme is Euro 6000. Candidates also need to purchase or rent property in Malta. The minimum property value requirement is at Euro 275,000 for property in the island of Malta or Euro 220,000 for properly in Gozo and the Southern Region of Malta. Candidates may alternatively opt for rental of property at Euro 9600 or property in Gozo/the southern Region of Malta at Euro 8,650 annually.
Global Residents are not required to show a minimum day count of physical presence in Malta and for tax purposes, require a declaration that the resident has not spent more than 183 days in any other country.
Residents also need to demonstrate a valid sickness insurance coverage for all EU risks including Malta.
“Fast process 3-4 months”
“Family members, Domestic staff included”
“No minimum presence required”
“Remittance basis of taxation 15% flat rate”
“Work permit eligibility”
“RESIDENCE PERMIT CONDITIONS”
- Maltese domicile – Not allowed
- Maximum Residence in OTHER countries – <183 days
- Employment, Business, Office in Malta – Allowed
- All the family; Non-EU national can apply
- Buy/Rent a residence
- Economically self-sufficient
- An application fee of Euro 6000
- EU health insurance covering all family
- Min annual tax for all family: Euro 15,000
316 sq km