Malta Global Residence Programme Rules, 2013

| Published on 11 Jul 2013

Chetcuti Cauchi
<p>The Malta Global Residence Programme Rules, 2013 issued in July 2013 by legal notice 167, serve to attract affluent Non-EU nationals seeking a Euro-Mediterranean lifestyle in a tax-friendly environment. The programme is also intended to increase the country’s competitiveness, revitalize the property sector and boost economic growth.</p> <h2>Malta Global Residence Programme Rules Eligibility Criteria</h2> <p>This new scheme is so far the most advantageous residence scheme available to non-EU nationals, particularly since the minimum value threshold related property investments, property rental and annual tax liability have been lowered from the previous High Net Worth Individuals Scheme.</p> <p>The salient conditions of the Global Residence Programme Rules, 2013 are the following:</p> <ul> <li>Minimum value of property situated in Malta is at €275,000, while the annual minimum rent is €9,600;</li> <li>Minimum value of property situated in the Southern Region of Malta or in Gozo is at €220,000 while the annual minimum rent is €8,750;</li> <li>Minimum annual tax per family is €15,000;</li> <li>The beneficiary’s spouse or person with whom the beneficiary is in a stable and durable relationship together with children who are under the age of twenty-five can be added onto the family application;</li> <li>The beneficiary’s dependent brothers, sisters and direct relatives in the ascending line of the beneficiary or his/her spouse can also be added onto the family application;</li> <li>Dependents do not need to pay additional minimum annual tax.</li> </ul> <h2>Summary of Malta Global Residence Programme Requirements</h2> <p>A summary of the main GRP requirements follow:</p> <table border="1" cellpadding="0" cellspacing="0" class="PublishingTable"> <tbody> <tr> <td rowspan="2" style="width:356px;"> <p><br />  </p> </td> <td colspan="2" style="width:321px;"> <p align="center"><strong>Global Residence Programme Rules</strong></p> </td> </tr> <tr> <td style="width:151px;height:42px;"> <p><strong>Property in Malta</strong></p> </td> <td style="width:170px;height:42px;"> <p><strong>Property in Gozo or </strong></p> <p><strong>South of Malta</strong></p> </td> </tr> <tr> <td style="width:356px;"> <p><strong>Immovable Property Purchase</strong></p> </td> <td style="width:151px;"> <p>€275,000</p> </td> <td style="width:170px;"> <p>€220,000</p> </td> </tr> <tr> <td style="width:356px;"> <p><strong>Rental</strong></p> </td> <td style="width:151px;"> <p>€9,600</p> </td> <td style="width:170px;"> <p>€8,750</p> </td> </tr> <tr> <td style="width:356px;"> <p><strong>Bond</strong></p> </td> <td style="width:151px;"> <p>None</p> </td> <td style="width:170px;"> <p>None</p> </td> </tr> <tr> <td style="width:356px;"> <p><strong>Minimum  Tax</strong></p> </td> <td style="width:151px;"> <p>€15,000</p> </td> <td style="width:170px;"> <p>€15,000</p> </td> </tr> <tr> <td style="width:356px;"> <p><strong>Taxation per dependant</strong></p> </td> <td style="width:151px;"> <p>None</p> </td> <td style="width:170px;"> <p>None</p> </td> </tr> <tr> <td style="width:356px;"> <p><strong>Tax Rate for Foreign Source Income remitted to Malta</strong></p> </td> <td style="width:151px;"> <p>15%</p> </td> <td style="width:170px;"> <p>15%</p> </td> </tr> <tr> <td style="width:356px;"> <p><strong>Application Fee</strong></p> </td> <td style="width:151px;"> <p>€6,000</p> </td> <td style="width:170px;"> <p>€5,500</p> </td> </tr> </tbody> </table> <h2>Converting between Residence Programmes</h2> <p>All individuals who are beneficiaries of a Special Tax Status in terms of the High Net Worth Individuals Rules, may opt to convert to the new <a href="http://www.ccmalta.com/publications/malta-global-residence-programme" style="line-height: 20.7999992370605px;" target="_parent" title="Global Residence Programme">Malta Global Residence Programme</a><span style="line-height: 20.7999992370605px;"> Rules</span>. In this regard we encourage you to confirm your interest in converting to the new scheme in order that we may inform you immediately when the above is official and guide you on the procedure to be followed.</p>


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