Malta Global Residence Program
Malta Global Residence Program
About the Malta Global Residence Program
Malta Global Residence Program:
The Malta Global Residence Program (GRP) is designed to attract individuals who are not nationals of the EU, EEA, or Switzerland and who are not long-term residents. Individuals benefiting from this Programme can work or set up a business in Malta as long as they have all the necessary permits. Beneficiaries may also have Household staff, as long as all the requisite procedures are met.
Under the GRP law, non-domiciled residents of Malta enjoy a flat rate of 15% on foreign source income. Malta has double tax treaties with over 60 countries, including most European countries, Canada, the USA, and Australia, ensuring that tax is not paid twice on the same income.
The program requires applicants to purchase property in Malta for a minimum of €220,000 or rent a property for five years, for a minimum of €8,750 annually.
In order to be considered Maltese tax residents, the applicants cannot spend more than 183 days in any other jurisdiction annually.
Malta:
Malta is the smallest EU country in size and population. Nonetheless, Malta has a substantial historical and cultural legacy spanning over 7,000 years. Malta is a neutral country in the heart of the Mediterranean Sea, which is well-respected and is a member of the Commonwealth. Malta has one of the fastest-growing economies in Europe and it has top GDP growth ratings in the EU. Malta is truly a unique and exciting place to do business, offering favourable legislation and a competitive tax system.
* Licence Number: AKM-AGEN-21
Get brochure
Thank you
Benefits of Malta Global Residence Program
Reside in Malta. Visa-free travel within Schengen zone
No minimum presence in Malta required
Remittance basis of taxation with 15% flat rate
3-4 months to residence acquisition
Minimum fee required
Work permit/ set up of business in Malta is permitted
Requirements for Malta GRP
- No previous criminal record
- Be over 18 years old
- Have a legitimate source of wealth
- EU health insurance covering all the applicants is required
- Non-EU nationals can apply
- Spend not more than 183 days per annum in any other jurisdiction
Who else can be included in the citizenship application:
- Spouse of the main applicant
- Dependent children of the main applicant and spouse under 25 years old
- Dependent parents over 55 years old of the main application and spouse
- Other family members who are dependent on the main applicant
- Household staff who have been serving the family in the systematic manner for over 2 years
Stages of obtaining Maltese Residence
-
Initial consultation
Initial free consultation with one of the GLS experts
-
Program information and due diligence check
Detailed fee schedule and a free of charge preliminary due diligence check
-
Client agreement and retainer fee payment
Signing of the client agreement and payment of the retainer fee
-
Preparation of the documents
GLS experts will assist you with the whole procedure of the documents’ preparation, including the translation, notarisation and apostille of the relevant documents
-
Payment of the additional fees
Payment of the remaining fee for the legal services of GLS and all the other relevant fees
-
Submission of Application
Once the application is submitted to the Malta International Tax Unit (ITU), it will be reviewed and relevant due diligence checks will be performed
-
Approval in Principle
Once the application is approved, a letter of Approval in Principle will be issued
-
Interview in Malta
The applicant is required to attend the introduction interview at ITU
-
Investment
Within 12 months of taking up residence in Malta, the Applicant must purchase or rent a property in Malta
-
Taxation
After submitting the Qualifying Property Agreement, the Applicant must pay the first tax contribution
-
Completion
At this stage a complete pack of documents will be submitted to apply for Maltese Residence Permit