Malta Global Residence Programme
The Malta Global Residence Programme establishes an attractive Malta tax environment for non-EU/EEA/Swiss individuals taking up residence in Malta.
A prospective beneficiary under the Global Residence Programme would be required to:
- purchase a residential property in Malta for at least € 275,000, reduced to € 220,000 for properties situated in the South of Malta and in Gozo; or
- rent a residential property in Malta for a minimum of € 9,600 per annum, reduced to € 8,750 for properties situated in the South of Malta and in Gozo;
- ensure that the residential property is used solely by the applicant, his dependents or special carer/s – the subletting of the property declared as one’s residence on the residence application is therefore not allowed;
- be covered by a private health insurance policy covering him and any dependants in respect of all risks across the EU.
A beneficiary under this programme would, as a result, be subject to tax in Malta as follows:
- chargeable income arising outside Malta and which is received in Malta would be taxable in Malta at a flat rate of 15%;
- chargeable income arising in Malta and capital gains realised in Malta would be taxable in Malta at the higher flat rate of 35%.
A beneficiary would not suffer any tax in Malta on:
- income arising outside Malta which is not received in Malta; or
- capital gains realised outside Malta, even if such gains are received in Malta, in whole or in part.
It is to be noted that the minimum tax payable by an individual under this programme is of € 15,000 and this also covers all dependents.
Malta is a full signatory of the Schengen Area Treaty and therefore is a visa-free movement zone with all other Schengen states.
Some other important features of Malta’s tax system that should be considered are that:
- Malta does not levy wealth, capital or estate taxes.
- No exit / entry taxes are levied in Malta on a shift of fiscal residence and / or corporate domicile.