Malta’s Global Residence Programme: A Prime Opportunity for Non-EU Nationals

Malta’s Global Residence Programme: A Prime Opportunity for Non-EU Nationals

The Global Residence Programme (GRP) offers a pathway for non-EU nationals to establish residency in Malta with the advantage of a favorable tax structure. GRP permit holders can work or start a business in Malta by securing the necessary permits, making the programme particularly attractive for those seeking both residence and professional opportunities.

Benefits of the Global Residence Programme

• No Minimum Stay Requirement – GRP beneficiaries are not required to spend a minimum amount of time in Malta but must not exceed 183 days in any one foreign country within a calendar year.
• Professional Flexibility – Opportunity to work or set up a business in Malta, pending necessary approvals.
• Tax Efficiency – Beneficiaries enjoy a competitive tax rate on foreign income remitted to Malta, along with eligibility for double taxation relief.

Eligibility Criteria for the Global Residence Programme

To qualify for the GRP, applicants must meet the following conditions:

1. Nationality – Must be a non-EU, non-EEA, and non-Swiss national.
2. Property Requirement – Applicants must hold qualifying property as their primary residence:
   • Property Purchase – Minimum value of €220,000 for properties in Gozo or the South of Malta, or €275,000 for other areas.
   • Property Rental – Minimum annual rent of €8,750 for properties in Gozo or the South, or €9,600 elsewhere in Malta.
3. Financial Stability – Must demonstrate stable and regular income sufficient to support themselves and their dependants without reliance on Malta’s social assistance.
4. Health Insurance – Required health insurance coverage for the applicant and dependants, applicable across the EU, sourced from a Maltese-licensed or reputable international insurer.
5. Language and Suitability – Applicants must be proficient in either Maltese or English and meet all fitness and propriety standards set by the Maltese authorities.
6. Travel Documentation – Valid travel documents must be maintained for both the applicant and dependants.

Tax Benefits

The Global Residence Programme offers a highly favorable tax rate of 15% on foreign income brought into Malta, subject to a minimum tax of €15,000 annually. This tax structure applies to both the main applicant and any dependants included in the application. Any income earned within Malta is subject to a flat 35% tax rate. Additionally, beneficiaries can access double taxation relief to avoid paying tax twice on foreign income.

Fees

There is a non-refundable administrative fee for each application under the GRP:

• €6,000 for property purchased or rented in Malta outside the South.
• €5,500 for properties in the South of Malta.

Application Process with Belair Property

To apply for the Global Residence Programme, it is essential to work with an Authorized Registered Mandatory. For expert assistance with the application process, Belair Property is here to help you establish residency in Malta seamlessly.