A Guide to the Malta Global Residence Programme (GRP): What You Need to Know

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The Malta Global Residence Programme (GRP) offers non-EU, non-EEA, and non-Swiss nationals a chance to obtain residence in Malta with numerous benefits, including tax advantages and ease of travel within the Schengen Area. This comprehensive guide explores the key aspects of the GRP, from eligibility criteria to the application process, providing essential insights for those considering Malta as their residence base.

Key Takeaways

  • The GRP is open to non-EU, non-EEA, and non-Swiss nationals, allowing them to include their family and certain dependents in the application.

  • Applicants must meet financial self-sufficiency requirements and secure a property in Malta within 12 months of residence.

  • GRP offers significant tax benefits, including a flat 15% tax rate on foreign income remitted to Malta and no tax on foreign-sourced capital gains.

  • The programme facilitates ease of travel within the Schengen Area, enhancing Malta’s appeal as a residence base.

  • The application process is relatively swift, taking about 3-4 months, and includes steps like document collection, due diligence checks, and obtaining a residence card.

Overview of the Malta Global Residence Programme (GRP)

Eligibility Criteria

The Malta Global Residence Programme (GRP) is tailored for non-EU, non-EEA, and non-Swiss nationals. Applicants must demonstrate financial self-sufficiency and possess valid health insurance. All family members can be included under one application, enhancing its appeal for potential applicants seeking a new residence base in Malta.

Benefits of the Programme

Participants of the Malta Global Residence Programme enjoy significant tax advantages, including a favorable 15% tax rate on foreign income remitted to Malta. The program also facilitates easier travel within the Schengen Area, making it an attractive option for those seeking mobility across Europe. Family inclusion and the ability to include domestic staff further enrich the benefits.

Application Process

Applying for the Malta Global Residence Programme involves a series of steps, starting with the collection of necessary documents and culminating in the issuance of a residence card. The process typically spans 3-4 months, depending on due diligence checks and review times. An initial application fee is required, alongside compliance with property and tax regulations within the first year of residence.

Eligibility Requirements for the Malta Global Residence Programme

Financial Requirements

To qualify for the Malta Global Residence Programme, applicants must demonstrate financial self-sufficiency. This includes having stable, regular resources sufficient to maintain oneself and any dependents without recourse to the social assistance system of Malta. Applicants are also required to pay an application fee and meet minimum tax obligations.

Property Ownership or Rental

Applicants must secure a residence in Malta by either purchasing or renting property. The minimum property values are set at €275,000 for properties in Malta and €220,000 for properties in Gozo or the Southern Region of Malta. Rental options must meet annual minimums of €9,600 in Malta or €8,750 in Gozo/the Southern Region.

Health Insurance and Other Necessities

All applicants and their dependents must be covered by health insurance that protects against all risks across the entire EU. Additionally, applicants must pass a Fit and Proper Test, ensuring they have no criminal record and are in good standing to maintain the integrity of the programme.

Benefits of Malta Global Residence Programme

Tax Advantages

Malta’s Global Residence Programme offers a highly favorable tax regime to non-EU, non-EEA, and non-Swiss nationals. Beneficiaries enjoy a flat tax rate of 15% on foreign-sourced income remitted to Malta, with no tax on foreign-sourced capital gains, whether remitted or not. This scheme aligns with over 60 double taxation agreements, ensuring that taxation is never duplicated.

Family Inclusion

The global residence programme Malta allows for the inclusion of family members under one application. This includes spouses, financially dependent ascendants, and children under 26. It’s a significant advantage for those looking to relocate their family to a new, stable, and culturally rich environment.

Ease of Travel within Schengen Area

Holders of the global residency scheme Malta permit enjoy ease of travel within the Schengen Area, enhancing mobility across Europe. This benefit is particularly attractive for business professionals and those who wish to explore Europe extensively without the hassle of obtaining multiple visas.

Application Process for Malta Global Residence Programme

Steps to Apply

To initiate the application process for the Malta Global Residence Programme, applicants must first ensure they meet all eligibility criteria. The process begins with the preparation of necessary documents, followed by submission through an Authorized Registered Mandatory (ARM). Each step must be meticulously followed to ensure compliance and accuracy.

Timeline and Processing

The processing time for applications can vary, but generally spans 3-4 months from submission to approval. Applicants will receive updates on their application status throughout the process, ensuring transparency and clarity.

Required Documents

A comprehensive list of documents is required for the application, including but not limited to, passport copies, birth and marriage certificates, police conduct certificates, and proof of financial means and health insurance. It’s crucial to provide complete and accurate documentation to avoid delays.

Ensure all documents are up-to-date and correctly certified to expedite the application process.

Property Requirements under the Malta Global Residence Programme

Minimum Property Values

To qualify for the Malta Global Residence Programme, applicants must invest in property. The minimum property value is €275,000 for properties located in Malta and €220,000 for properties in Gozo or the Southern Region of Malta.

Rental Options

Applicants have the option to rent properties if they prefer not to buy. The annual rental minimums are set at €9,600 for properties in Malta and €8,750 for properties in Gozo or the Southern Region.

Compliance Timeline

Once the residence permit is granted, the property (bought or rented) must be secured within 12 months. This ensures that applicants have a valid address in Malta and are compliant with the residency requirements.

Taxation Benefits of the Malta Global Residence Programme

Tax Rates on Foreign Income

Participants of the Malta Global Residence Programme benefit from a favorable tax regime. They are taxed at a flat rate of 15% on foreign income that is remitted to Malta, while income not remitted is not taxed at all. This system provides significant tax savings compared to global income taxation norms.

Double Taxation Agreements

Malta has established over 60 double taxation agreements with countries around the world, including most European countries, Canada, Australia, and the USA. These agreements ensure that Malta Global Residence Programme participants do not pay tax twice on the same income, enhancing Malta’s attractiveness as a residence base.

No Minimum Stay Requirement

One of the unique advantages of the Malta Global Residence Programme is the no minimum stay requirement. This allows participants to benefit from Malta’s tax advantages without the need to spend a specific amount of time in the country each year, providing flexibility and convenience for global residents.

Living in Malta as a Global Resident

Cultural and Lifestyle Benefits

Embrace a life in Malta, where the Mediterranean charm meets a rich historical tapestry. The island offers a relaxed lifestyle, affordable living, and a vibrant cultural scene that appeals to residents from around the globe.

Employment and Business Opportunities

Malta’s growing economy presents numerous opportunities for employment and business ventures. The country’s strategic location and EU membership make it an attractive base for startups and established businesses alike.

Education and Healthcare Services

Malta provides high standards of education and healthcare. The presence of international schools and modern medical facilities ensure that the needs of global residents are well catered to, making it an ideal place for families.

Discover the vibrant life of Malta and embrace the Mediterranean lifestyle as a global resident. Our comprehensive services at Nomad Visa Malta assist you in navigating the residency process smoothly, ensuring you enjoy the sun-soaked living without the hassle. Whether you’re a digital nomad or looking to invest, Malta offers a unique blend of culture, history, and modern amenities. Ready to make the move? Visit our website to learn more and book your consultation today!

Conclusion

The Malta Global Residence Programme (GRP) offers a comprehensive and attractive option for non-EU, non-EEA, and non-Swiss nationals seeking residency in a vibrant EU country. With its straightforward application process, favorable tax regime, and the inclusion of family members and domestic staff, the GRP stands out as a practical choice for those looking to relocate to Malta. Whether it’s the benefits of a warm Mediterranean lifestyle, the ease of travel within the Schengen Area, or the financial advantages of the program, the GRP provides a unique opportunity to enjoy the perks of Maltese residency. As always, potential applicants are encouraged to consult with authorized representatives to ensure compliance with all requirements and to facilitate a smooth application process.

Frequently Asked Questions

Who is eligible to apply for the Malta Global Residence Programme?

The programme is open to non-EU, non-EEA, and non-Swiss nationals. It includes the main applicant, their spouse, financially dependent ascendants, dependent relatives, and bona fide members of the household. Children under 25 are automatically included.

What are the financial requirements for the Malta Global Residence Programme?

Applicants must demonstrate financial self-sufficiency, pay an application fee of €6,000, and meet a minimum annual tax of €15,000 for all family members.

What property requirements must be met for the Malta Global Residence Programme?

Applicants must buy or rent property in Malta within 12 months of residence. The minimum property value is €275,000 for Malta or €220,000 for Gozo and the Southern Region. Rental options are €9,600 annually in Malta or €8,750 in Gozo/the Southern Region.

What are the tax benefits of the Malta Global Residence Programme?

Residents benefit from a 15% flat tax rate on foreign sourced income remitted to Malta, no tax on foreign-sourced capital gains, and benefits from over 60 double taxation agreements.

What are the application steps for the Malta Global Residence Programme?

The process involves collecting supporting documents, building the application, undergoing due diligence checks, and obtaining approval, which typically takes 3-4 months.

Can family members and domestic staff be included in the Malta Global Residence Programme?

Yes, family members including spouses, dependent children, and other dependent relatives can be included. Domestic staff may also be included under certain conditions.

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