Global Residence Program
The Global Residence Programme confers a special tax status to Non-EU nationals in receipt of stable and regular resources. This status is granted on specific conditions including:
- Acquisition of a property for not less than €275,000 or rent a property for not less than €9,600 per annum. Should the property be situated 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.
- hold adequate health insurance covering the EU territory,
- satisfy a “fit and proper test”
- Applicants may not spend more than 183 days in any one foreign country in a year.
Foreign income received in Malta is taxed at a 15 per cent rate, 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.After being granted this tax status, clients can apply for their residence card.
An application under this programme may only be submitted through an Authorised Registered Mandatory. M. Meilak & Associates is an Authorised Registered Mandatory and, may assist you with your application and with any immigration, tax and legal requirements.
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