The Malta Global Residence Program was launched in 2013. Investors rent or buy real estate and pay an administration fee to get a residence permit.
Spouses, children, siblings, parents, and grandparents can also become Maltese residents with the investor.
Malta’s residence permit allows a holder to live in the country, travel across the Schengen Area without visas, and optimize taxes. Investors aren’t obliged to live in Malta. However, they cannot spend more than 183 days a year in another country.
The program terms stipulate that the investor becomes a Maltese tax resident and pays taxes at reduced rates.
The flat tax rate of 15% is charged on income earned abroad and transferred to Malta. The minimum tax due for a family is €15,000 per annum.
- Visa-free travel to Schengen countries
Malta’s residence permit equals a Schengen visa, allowing the holder to freely visit the Schengen countries for up to 90 out of 180 days.
- Living, working and doing business in Malta
Residents can live in Malta for as long as their residence permits are valid. In addition, they can get a special permit to work or open a company in the country, and there is also no inheritance tax.
- Tax optimisation
Investors and their family members become Maltese tax residents. Participants of the Malta Global Residence Program enjoy a special tax regime:
– 15% on the income earned abroad and transferred to Malta;
– 0% on global income not transferred to Malta;
– 35% of the income earned in Malta.
The minimum tax payment for a family is €15,000 per annum. There are no additional taxes for the investor’s family members or inheritance.
- “Safe haven” in Malta
Investors aren’t obliged to relocate to Malta, but they must rent or buy real estate on the island. Thus, the family can quickly and freely come to Malta in case of trouble in the country of residence.
- Access to European education and healthcare
Investors and their family members can also get medical treatment and education in Malta. As residents, they don’t need visas. The only time limit is the validity of residence permits.
Visa-free medical treatment and education are available in other Schengen countries if the period of stay doesn’t exceed 90 days.
- Renting real estate – €34,150+
The rental cost depends on the property’s location. If a property is in the south of Malta or on the island of Gozo, the minimum annual rental price is €8,750. It is €9,600 for the north and centre of Malta.
- Purchasing real estate – €270,200+
If the investor buys a property in the south of Malta or the island of Gozo, the administration fee is reduced to €5,500. The minimum property value is €220,000.
The minimum cost of a property in the north or centre of Malta is €275,000. The administration fee is €6,000.
Investors can sell the property and return the money if they give back the Maltese residence permit.
The process takes 3-4 months. (obtaining period)
Apply for Malta Residence Permit
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