MRVP – The Malta Residence and Visa Program:
This program, also known as the Malta Golden Visa, leads to residency, but has no recurring minimum tax – which makes this program preferable especially for long-term residents and retirees.
The MRVP program requires a property purchase of no less than €270,000 EUR (or a property lease at no less than €10,000 per year for five years).
The program further requires a non-refundable one-time cash contribution of €30,000 and an investment of €250,000 in government bonds to be held for a minimum of five years.
This program leads to residency in as little as three months from application start, but it does not lead to the Maltese (EU) citizenship and passport.
GRP – The Global Residence Program:
The Program was founded on the foundation of attracting expats to Malta together with their families (for non-EU, non-EEA and Swiss nationals). The programme grants successful applicants special tax status by setting the personal tax rate to 15% on external sources of income remitted to Malta.
- Be able to communicate in English or Maltese;
- Not benefit from any other special tax status in Malta;
- Be in possession of a valid travel document;
- Be in receipt of stable and regular resources which are sufficient to maintain himself and his dependents, without recourse to social assistance;
- To have a health insurance policy which covers the main applicant and his dependents in respect of all risks across the EU;
- Acquisition of a property in Malta (purchased for a minimum value of € 275,000 (or in Gozo or the south of Malta for a value of not less than € 220,000). If property is not purchased, rental of property in Malta of a value of at least €9,600 per annum, or €8,750 for properties in the south of Malta or Gozo;
- A minimum tax of €15,000 every year must be paid;
- Non-refundable application fee of €6,000 must be paid (€5,500 if property is situated in Gozo or the South of Malta)
Highly Qualified Person Rules:
This tax regime only applies to professionals working for a company authorized or recognized by the Maltese financial or gambling sectors. This regime may last up to 4 or 5 years.
Tax on income received by a beneficiary under a ‘qualifying contract’ of employment in respect of activities carried out in Malta, shall be charged at a flat rate of 15% (up to a maximum income of €5,000,000, with the excess being exempt from tax).
The following prerequisites must be met to qualify for the regime:
- Be domiciled outside Malta;
- Have the necessary professional experience and hold a leadership position and earn a salary of at least 75.000 € per year from a company in Malta (with this amount being adjusted upward for inflation);
- Live in a qualified property;
- Hold a of valid passport;
- Have a health insurance policy;
- Work in key positions in certain industries as approved in the same Rules.
Key Employee Initiative (KEI):
The aim of the KEI is to facilitate and fast track the single permit application process to highly-specialised third-country nationals and/or third-country nationals who are to occupy a managerial post, seeking employment in Malta.
To qualify, the annual gross salary offered to the applicant must be of at least €30,000.
Upon a successful application process, the applicant would be issued with a residence permit valid for 1 year.
Subsequently, this may be renewed for a longer period not exceeding three years, subject to fulfillment of the applicable conditions.
Third-country nationals wishing to reside and work in Malta may avail of the single permit procedure which grants the applicant a residence and work permit simultaneously within approximately 4 months from the date of submission of the application. The single permit must be endorsed by the employer/prospective employer.
Malta Retirement Program
Special tax status can be issued to retirees of all nationalities alike (except Maltese), including third country nationals, when remitting their pension into Malta and meeting following investment criteria: applicants are required to acquire property for not less than €275,000 or rent property for not less than €9,600 per annum (for Gozo or in the South of Malta – €250,000 and €8,750, respectively); to have health insurance covering the EU territory; received pension in Malta must be at least 75% of his chargeable income; applicants must not reside in any other jurisdiction for more than 183 days.
A 15 per cent rate of tax is charged in respect of foreign income received in Malta, with the possibility of claiming double tax relief.
The minimum annual tax under this programme stands at €7,500, with an additional €500 per dependent (if any), a one-time registration fee amounting to €2,500 is levied by the Maltese government.
This Programme is open to both EU and non-EU nationals.
United Nations Pensions Program Rules (UNPP) – Special Tax Status
The UN Pensions Program rules contemplate the granting of “special tax status” to individuals who meet a number of conditions: an applicant is neither a permanent resident nor a long-term resident of Malta and if she/he is in receipt of a UN pension or a Widow’s/Widower’s Benefit of which at least 40% is received in Malta. Successful applicants shall benefit from a reduced tax rate of 15% on income arising outside Malta and which is remitted to Malta (subject to a minimum annual tax payment of €10,000 with an additional €5,000 in the event that both spouses are in receipt of a UN pension), with the added possibility to claim double taxation relief.
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