Global Residence Program

The Global Residence programme is aimed at attracting foreign investment by offering certain tax benefits as well as a uniform residency permit to non-EU, non-EEA and non-Swiss nationals.

Beneficiaries under the GRP are not precluded from working in Malta.

Who may apply?

  •  An individual who is not an EU/EEA/Swiss citizen ; and
  • Is not benefitting from other tax programmes in Malta ;
  • Owns/Purchases immovable property in Malta worth at least Euro 270,000 (or Euro 250,000 if purchased in the south of Malta/Gozo) OR
  • Rents out immovable property in Malta for a minimum 12 month period for at least Euro 9,600 per annum; (or Euro 8750 per annum is the property is in the south of Malta/Gozo);
  • In both cases of lease and purchase, the properties must be used as the person’s principal place of abode. Only the beneficiary and his spouse/partner and children/siblings/direct relatives may live in the property
  • The applicant is in possession of stable financial resources for him and his dependents;
  • The applicant has a valid health insurance for him and his dependents ;
  • The applicant is fluent in English or Maltese .

 

 Taxation and Residence

An individual whose application under the GRP has been approved shall be subject to a flat rate of tax of 15% of all income that is received in Malta from foreign sources by the beneficiary, his spouse/partner and dependants. A minimum annual tax of euro 15,000 must be paid on foreign sourced income. No tax will be imposed on income received from foreign sources that is not received or remitted to Malta. All income realised in Malta will be taxed at 35% .

A uniform residence permit will be issued and will be continued to be issued annually. If the individual later acquires the status of a long term resident in Malta or has resided in Malta continuously for 5 years, the GRP will no longer apply. Such an individual will then be subject to the relevant taxation rates applicable to such person and chargeable on one’s worldwide income (ie both local and foreign sourced income will be subject to tax in Malta)

The GRP will no longer apply if an individual stays in another jurisdiction for more than 6 months in a calendar. The special tax status under the GRP is transferable to the heir of the deceased beneficiary provided that such heir meets the requirements contained in the said rules.

 

How to apply?

The application procedure has to be carried out by an Authorised Registered Mandatory (ARM). The team of FS Malta includes a licensed ARM. Only ARMs may effect registration of an application under these rules following a fit and proper test of the applicant. Kindly contact us for more information about applying for this program.

 

 



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