If you are an EU, EEA, or Swiss national, you may qualify for paying only 15% of your external income remitted to Malta.
What is the Residence Programme?
The Residence Programme Rules enable any EU, EEA, or Swiss national who is not a Maltese citizen or who benefits under another residence scheme in Malta to participate in the Rules (subject to fulfilment of the requirements).
An individual participating in the Residence Programme would be subject to income tax at a rate of 15% on income arising outside of Malta and remitted to Malta.
A minimum amount of tax of €15,000 is due on an annual basis by the 30th April of each year.
Any other income which arises in Malta and is not subject to tax under the Rules would be charged at the standard rate of 35%.
Rules of the Residence Programme
The requirements listed in the Rules to qualify for a special tax status include the following:
1) To hold a qualifying property in Malta which may refer to a purchase of a consideration not less than Euro 275,000 or a rental value of Euro 9,600 per annum; albeit if situated in the south of Malta or Gozo, a consideration of Euro 220,000 or a rental value of Euro 8,750 per annum.
2) To be in receipt of a stable and regular income or resources which is sufficient to maintain self and dependants.
3) To have a health insurance covering risks in the European Union, which insurance should cover himself and his dependants.
4) To have a valid travel document.
5) To be fluent in either English or Maltese as the official languages in Malta.
6) To be a fit and proper person.
How Can Integritas Help?
An individual interested in applying for the Residence Programme is required to appoint an authorised mandatory for this purpose.
The Integritas Group is an authorised mandatory and can assist you in the procedure to apply for the Residence Programme. Contact Us!