Malta Residence & Visa Programme

Malta Residence & Visa Programme 

The 2015 Malta Residence and Visa Programme was designed to attract international investors and provide them with the opportunity to reside, settle and stay indefinitely in Malta.

The scheme is especially attractive for those non-EU nationals who previously relied on more costly schemes for their alternative residence in Europe.

Now, individuals from all parts of the world, such as entrepreneurs, retirees, authors, intellectuals and international consultants, together with their families, are able to establish an alternative residence that suits their lifestyle and tax profile at a reasonable cost.

Global Residence Permit for Non-EU

The Malta Residence and Visa Programme follows in the footsteps of the Global Residence Programme (GRP).

The GRP was probably considered as 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 and a safe environment for all the family.

Similar to the GRP, the Malta Residence and Visa programme provides a programme for permanent residence that is both qualitative as well as financially feasible 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 Residence and Visa 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 of 15% on remitted income
  • A low annual tax liability of a total of €15,000 per family in Malta, respectively.
  • No Inheritance/Wealth Taxes

The requirements include;

  • A contribution of €30,000 out of which the €5,500 are non-refundable
  • Title of qualifying property or lease of qualifying property
  • Title of qualifying investment with an initial value of €250,000
  • Capital of €500,000 and/or €100,000 annual income, arising from outside of Malta.
  • Health insurance cover for the whole family in respect of all risks across the whole of the European Union.

Malta Residential Property

Approved beneficiaries of the Malta Residence and Visa 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 own 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 €270,000 if situated in Gozo or the southern region of Malta or €320,000 if situated elsewhere in Malta. Alternatively, residents have the option of renting property in Gozo or the southern region of Malta at €10,000 or €12,000 if situated elsewhere in Malta, annually.

Applications

Applications are now open under the 2017 Malta Residence and Visa Programme and should be made through an authorised mandatory that is regulated by law and authorised to act as a liaison between applicants and the Maltese immigration authorities.

Why Choose CSA?

Charles Scerri & Associates are authorised mandatories and are happy to provide any pre-immigration tax and legal advice as well as represent you in an application for the Malta Residence and Visa Programme. We provide assistance throughout the application process and the ongoing process including maintenance and preparation of the necessary documents required including preparation of tax returns and relevant permits.

It is emphasised that the above is intended only as general information and cannot substitute any professional advice on the matter with respect to particular situations.

For more information contact charles@charlesscerri.com

 

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