Taking up residence in Malta with the Global Residence Programme

Mal­ta offers some inter­est­ing pos­si­bil­i­ties for non-EU, non-EEA and non-Swiss cit­i­zens to take up res­i­den­cy. The Glob­al Res­i­dence Pro­gramme enables peo­ple to become res­i­dents by mak­ing an invest­ment. The Indi­vid­ual Investor Pro­gramme is an invest­ment pro­gramme that also awards the cit­i­zen­ship. In this arti­cle, I would like to high­light the require­ments and advan­tages of the Glob­al Res­i­dence Pro­gramme.

Require­ments

Tak­ing part in the Glob­al Res­i­dence Pro­gramme of Mal­ta is tied to cer­tain require­ments. These include rent­ing or pur­chas­ing prop­er­ty and pay­ing income tax. The val­ues of the prop­er­ties are min­i­mum require­ments, and a pur­chased prop­er­ty has to cost between €220,000 in €275,000, depend­ing on the loca­tion. A rent­ed prop­er­ty has to cost an annu­al rent of between €8750 and €9600, also depend­ing on loca­tion. You also need to present a full cov­er med­ical insur­ance pri­or to your appli­ca­tion.

What do you get for tak­ing part?

The Glob­al Res­i­dence Pro­gramme enti­tles res­i­dence per­mit hold­ers to reside in Mal­ta and ben­e­fit from the favourable per­son­al income tax struc­ture of 15% flat rate. Mal­ta has many dou­ble tax­a­tion treaties, and it can be finan­cial­ly worth­while to move to the islands. Income only has to be taxed on remit­tance basis. Income from for­eign sources will only be sub­ject to income tax if it is being remit­ted to Mal­ta, and for­eign cap­i­tal gains are not taxed in Mal­ta. If you are oper­at­ing a busi­ness in Mal­ta or you have income from oth­er eco­nom­ic activ­i­ties you will have to pay 35% tax. The min­i­mum amount that is tax­able is €15,000 per year. If you are a res­i­dence per­mit hold­er you do not need to spend a set amount of time in Mal­ta and you can come and go as you please. How­ev­er, restric­tions to resid­ing in oth­er coun­tries apply and you can­not spend more than 183 days of a year in the same coun­try.

Appli­ca­tion

The appli­ca­tion will also incur a fee of €4000. The appli­ca­tion process needs to be car­ried out by a Autho­rised Reg­is­tered Manda­to­ry. You can con­tact the legal office of Dr. Wern­er & Part­ner for more infor­ma­tion about the appli­ca­tion process, and you are wel­come to sched­ule a per­son­al con­sul­ta­tion if you are inter­est­ed in apply­ing for the Glob­al Res­i­dence Pro­gramme of Mal­ta.

About Philipp Sauerborn

In 2005, Philipp Sauer­born joined the firm of St. Matthew in Lon­don, one of the lead­ing Ger­man account­ing firms in Eng­land renowned for its exper­tise in cor­po­rate, com­mer­cial and tax law, as a depart­ment head. After three years, he was a part­ner and man­ag­ing direc­tor.
Towards the end of 2011, he decid­ed to move to Mal­ta, where he first worked at inter­na­tion­al law firms and con­sul­tan­cies in an employed and con­sult­ing capac­i­ty. Since the begin­ning of 2013, he has been a senior employ­ee at Dr. Wern­er & Part­ner. Mr. Sauer­born is cur­rent­ly com­plet­ing his ADIT ‑Advanced Diplo­ma in Inter­na­tion­al Tax.

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