The Residence Program Rules grants a special tax status to EU/EEA/Swiss nationals upon satisfying certain conditions including:
- acquiring a property for not less than €275,000 or renting property for not less than €9,600 per annum. If the property is in Gozo or in the South of Malta, the purchase value should not be less than €220,000 and the rental value should not be less than €8,750 per year.
- must be in receipt of stable and regular resources
- hold adequate health insurance covering the EU territory
- satisfy a “fit and proper test” in order to get a permit under the Residence Program
- Applicants may not spend more than 183 days in any other one foreign jurisdiction.
A 15% tax is chargeable in respect of foreign income if received in Malta, with the possibility of claiming double tax relief. The minimum annual tax stands at €15,000 after claiming any applicable double tax relief. A one-time registration fee amounting to €6,000 is levied by the Malta Government.
Upon being granted this tax status, one would be in a position to apply for the residence card.
Only an Authorised Registered Mandatory can submit an application under the Residence Program. We have been granted authorization by the International Tax Unit to act as an Authorised Registered Mandatory and may assist you with your application and with any immigration, tax and legal requirements.