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 Malta Global Residence Programme

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Malta Global Residence Programme

Malta Global Residence Programme

     

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The 2013 Malta Global Residence Programme was designed to attract affluent individuals seeking to take up global residence in Malta. The scheme is especially attractive to non-EU nationals who previously relied on the more costly Malta HNWI Scheme for their alternative residence in Europe.  Now, from all parts of the world, individuals and their families who are entrepreneurs, retirees, authors, intellectuals and international consultants are now able to establish an alternative residence that suits their lifestyle and tax profile at a reasonable cost.

Global Residence Permit for Non-EU Nationals

The Malta Global Residence Programme follows in the footsteps of the Malta Permanent Residence Scheme.  The PRS was probably the most attractive residence scheme available to non-EU, non-EEA and non-Swiss nationals seeking to migrate their fiscal residence overseas to a more attractive country, with mild winters, a high standard of living, a safe environment for for all the family.  Like the PRS, the Global Residence Programme provides a programme for permanent residence that is qualitative yet financially feasible and with the tax efficiency of Malta's remittance based taxation system.  Malta ticks all the boxes as a foremost global residence jurisdiction and tops the respected international indexes  for quality living and retirement.

Requirements of Malta's Global Residence Programme

The financial qualifications are easy to satisfy and permanent residents are entitled to the following benefits:

  • No minimum stay requirements

  • A low personal tax rate at 15% on remitted income.

  • A low annual tax liability of a total of EUR15,000 per family.

  • No world-wide income/wealth tax - tax only paid on income remitted to and kept in Malta

  • No need to purchase property - only a minimum annual rent of €9,600 / 8,750 for Malta / South of Malta & Gozo, respectively.

  • No minimum investment requirements

  • No Inheritance/Wealth Taxes

Malta Residential Property

Approved beneficiaries of the Global Residence Programme are given 12 months to acquire or rent property in Malta or Gozo in accordance with the Property rules. Malta Residents are required to prove the availability of an address to them in Malta by submitting a contract of purchase or rental of property in Malta or Gozo. Residence permit holders need to satisfy the minimum property value requirements of €275,000 for property in Malta and €220,000 for property in Gozo and the Southern Region of Malta. Residents have the option of renting property in Malta at €9,600 or property in Gozo and the Southern Region of Malta at €8,750 annually.

New Global Residence Programme

New applications under the PR Scheme were accepted between 1988 and 2010 and existing PR permits remain valid subject to compliance with the current rules applicable to their Permanent Residence Permit.  Between 2011 and 2013 applications for permanent residence were made under the 2011 HNWI Residence Rules available in two streams: one for European nationals and another for non-European nationals. Applications are now open under the 2013 Global Residence Programme and should be made through an authorised mandatary that is regulated by law and authorised to act as liaison between applicants and the Maltese immigration authorities.  Our lawyers are authorised mandataries and are happy to provide any pre-immigration tax and legal advice as well as represent you in an application for the Global Residence Programme.

See also Malta Residency by Investment

Malta Global Residence News

China Power Invest.Corp. in largest Foreign Direct Investment in Malta | 15/12/2014 

Malta Citizenship Approvals out! | 14/11/14

First Malta Citizenship Approvals | 12/11/14

Global Residence Citizenship Conference Singapore | 30/10/14

Malta Residence Programme for EU Nationals launched | 18/08/14

Malta Citizenship | 31/05/14

Malta Citizenship Approvals Issued | 20/03/14

Malta Citizenship Programme | 18/03/14

Identity Malta Approved IIP Agents | 27/02/14

Maltese Citizenship Regulations Published | 06/01/2014

Identity Malta: New Expats Agency Launched | 01/10/2013

Partner JP Chetcuti speaks at Malta Residence & Citizenship Seminar in London |  26/11/2013

Partner JP Chetcuti speaks at 6th Biennial IBA Immigration & Nationality Law Conference |  24/11/2013

Malta Government launches 2013 Global Residence Programme  | 04/06/2013

Record growth in Malta's accounts attributed to increase in foreign business presence | 23/03/2012

More Foreigners relocating Personal and Business Interests to Malta | 14/03/2012

Malta Chalks-up Points on the Economic Freedom Index | 12/03/2012

Malta tops International Living’s 2011 Quality of Life Best Climate Index | 16/02/12

Financial Times highlights Malta's efforts to attract High Net Worth Individuals | 18/01/12

 

 

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