Global Residence Programme
The Global Residence Programme is essentially a tax driven programme that is aimed to attract investment from third country nationals. Upon the fulfilment of specific criteria, high net worth individuals with regular and stable income (also including pension income), may benefit from a flat tax rate of 15% on foreign source income remitted to Malta- subject to an annual minimum tax of €15,000 for an entire family. It also offers permanent residence whereby investors and their economically dependant family members, may enjoy residing in Malta as well as avail of visa-free travel within the Schengen zone.
Investment under the Global Residence Programme differs from other programmes since the initial investment is relatively reasonable coupled with an annual minimum tax. The initial investment comprises an investment in property for a minimum value of €220,000 or alternatively rent for at least €8,750 on a yearly basis. Furthermore, a non-refundable application fee of €6,000 is applicable as well as EU health insurance coverage for all applicants. On an annual basis, one is required to pay a minimum tax of €15,000, maintain the property and health insurance, and not reside in any other single jurisdiction for 183 days or more.
Procedure & Timeline
File preparation and submission. Purchase health insurance. Payment of non-refundable EUR6,000 application fee.
3 - 4 MONTHS
Application is reviewed by the local authorities
Interview in Malta
Letter of Intent issued by the local authorities
1 WEEK UP TO 1 YEAR
- Purchase (€220,000 minimum) or rent (€8,750 minimum) qualifying property
- Settle minimum tax payment of €15,000 for first year
Letter of Approval issued by the local authorities
Residence card application preparation and submission
6 - 8 WEEKS
Residence card is issued by the local authorities