GLOBAL RESIDENCE PROGRAM (GRP)

ELIGIBILITY CRITERIA

  • Applicant must not be a Maltese/ EEA/ Swiss national.

  • Applicant must hold a qualifying property which the individual occupies as his principal place of residence worldwide, either by:

  • 1.  Purchasing – In this case, the minimum value must be of at least €220,000 for properties in Gozo and the South of Malta, or a minimum of €275,000 for properties in the rest of Malta.

  • 2.  Renting – If the applicant decides to rent a property this must be a minimum value of €8,750 per year for properties in Gozo or the South of Malta. If the properties are situated in the rest of Malta, a minimum of €9,600 per annum must be spent.

  • Applicant needs to prove that he holds stable and regular resources that are sufficient to maintain himself and his dependants without the use of the social assistance system in Malta.

  • Applicant needs to have health insurance which covers himself and his dependants in respect of all risks across the whole of the EU. The health insurance cover must be obtained through a company licensed in Malta or by an international reputable health insurance company.

  • Applicant must be in possession of valid travel documents, for both themselves and their dependents.

  • Applicant must also be able to communicate adequately in Maltese or English and must be a fit and proper person.

 

TAX BENEFIT

 

With the Global Residence Programme, a flat rate of 15% tax is applicable on foreign income remitted to Malta, with a minimum tax of €15,000 per annum. The minimum tax threshold covers both the main applicant and dependents included on the same application. Any other income (such as local source income) is subject to a flat rate of 35% tax. Beneficiary would also be able to benefit from double taxation relief.

A standard application processing fee of €6,000 is applicable if a property is purchased in Malta and €5,500 if the property is bought or rented in Gozo or the South of Malta. One must apply through an Authorised Registered Mandatory.

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