Malta is renowned for its attractive residency programmes, catering to affluent individuals seeking a new home and a range of benefits.
In this article, we will explore two such programmes: the Malta Global Residence Programme (GRP) and the Residence Programme (TRP).
Malta Global Residence Programme (GRP)
Introduced in 2013, the GRP is tailored for non-EU, non-EEA, or non-Swiss nationals who are not benefitting from any Maltese Residence or beneficial tax scheme. Participants under this programme can work in Malta while complying with relevant work permit conditions. Here are the key details:
Eligibility for the Global Residence Programme
The primary applicant, along with their spouse, and bona fide household members are covered by a single application. Children up to the age of 25 are automatically included.
Benefits of the Global Residence Programme
Participants can be tax resident in Malta without any minimum stay requirement.
Being an EU member state, Malta grants GRP participants the advantages of EU residency, including unrestricted travel within the Schengen Area.
Malta’s high standard of living, excellent healthcare, education, and infrastructure, along with its favourable Mediterranean climate, further enhance the appeal of the island republic. English and Maltese are both official languages in Malta.
Additionally, the GRP offers a flat tax rate of 15% on foreign income remitted to Malta, with a minimum annual tax liability of €15,000. No tax liability is imposed on foreign income not remitted to Malta, and there is no capital gains tax on income generated outside Malta. Moreover, Malta has an extensive network of over 70 double tax treaties, ensuring participants avoid double taxation on their income.
Global Residence Programme Qualification Requirements
Adequate income and economic self-sufficiency are prerequisites.
Applicants must be of good character, possess a valid travel document, and obtain international health insurance covering all risks throughout the European Union.
Applicants must also own or rent a qualifying property and ensure that they do not reside in any other jurisdiction for more than 183 days.
The Residence Programme (TRP)
Introduced in 2013, the TRP is designed specifically for EU, EEA, or Swiss nationals seeking tax residency in Malta. Under the TRP, participants can engage in employment in Malta, subject to work permit conditions. Here’s what you need to know:
Eligibility to The Residence Programme
The primary applicant, their spouse, and household members can be included in a single application. Children up to the age of 25 are automatically covered. Participants must not benefit from any other Maltese residence or beneficial tax scheme.
Benefits of The Residence Programme
TRP participants enjoy indefinite residency in Malta without any minimum stay requirement.
As an EU member state, Malta grants participants EU residency, allowing free travel within the Schengen Area.
Malta offers excellent healthcare, education, and infrastructure, as well as a pleasant Mediterranean climate. English and Maltese are official languages in Malta.
The TRP also provides favourable tax benefits, including a flat tax rate of 15% on foreign income remitted to Malta, with a minimum annual tax liability of €15,000. No tax liability is imposed on foreign income not remitted to Malta, and there is no capital gains tax on income generated outside Malta. Malta’s extensive network of double tax treaties, encompassing over 70 countries, ensures participants can avoid double taxation on their income.
The Residence Programme Qualification Requirements
Applicants must be of good character, possess a valid travel document, and obtain international health insurance covering all risks throughout the European Union.
Adequate communication skills in Maltese or English are necessary.
Applicants should have stable income and economic self-sufficiency. Owning or renting a qualifying property is mandatory, along with ensuring that they do not reside in any other jurisdiction for more than 183 days.
