The Global Residence Programme allows third-country nationals excluding EEA and Swiss nationals who satisfy the requirements in the Rules to qualify for a special tax status.
An individual participating in the Global Residence Programme would be subject to income tax at 15% on income arising outside of Malta and remitted to Malta.
A minimum 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%.
Requirements of the Global Residence Programme
The requirements listed in the Rules to qualify for a special tax status include the following:
- To hold a qualifying property in Malta which may refer to a purchase of 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 8,600 per annum;
- To receive a stable and regular income or resources which is sufficient to maintain himself and his dependants;
- To have health insurance covering risks in the European Union, which insurance should cover himself and his dependants;
- To have a valid travel document;
- To be fluent in either English or Maltese as the official languages in Malta;
- To be a fit and proper person.
How Can Integritas Help?
Any individual interested in applying for the Global Residence Programme would be required to appoint an authorised mandatory for this purpose.
The Integritas Group is an authorised mandatory and can assist you in applying for the Global Residence Programme. Contact us!