Global Residence Programme

The Malta Global Residence Program is a program designed to attract individuals who are not nationals of the EU, EEA or Switzerland and who are not long-term residents seeking to take up tax residence here in Malta. With over 40 years of experience, Busuttil & Millo Advocates will be happy to assist and provide you a top-notch service that can satisfy your needs. Our team at Busuttil & Millo Advocates will guide you throughout the process through the Global Residence Programme, and we will also be able to find you the right property to fulfill both the investment criteria and your investment needs. 

One of the main reasons why candidates apply for this program is that upon the successful completion of the Global Residence Programme application process, the applicant would qualify for special tax status and would qualify for a flat rate of 15% tax. 

One application can include the main applicant and his spouse, children who are under the age of twenty-five provided that such children are not economically active, dependent brothers, sisters and direct relatives in the ascending line of the beneficiary and in any case, any person residing in the qualifying property with the applicant.

The salient features of the Global Residence Programme are:
Applicants must show that he is economically self-sufficient to maintain himself and also his dependents without making use of the social assistance in Malta.
Must be in possession of valid sickness insurance cover himself and his dependants in respect of all risks across the whole EU.
The applicant is to be a fit and proper person.
Is in possession of a valid travel documents.
Renewal of visa yearly - done by the authorised mandatory.
The applicant is not benefitting from any other special tax status or residence programme (other than the Malta Residence and Visa Programme)
If the applicant can adequately communicate in one of the official languages of Malta.
Pays an annual minimum tax of at least €15,000 upon income arising outside of Malta which is received in/remitted to Malta.
Does not spend more than 183 days in any other single jurisdiction.
Holds a qualifying property by purchasing a property at €275,000 for property in Malta, €220,000 for property in the Southern Region of Malta and €250,000 for property in Gozo. Candidates also have the option to rent property in Malta at €9,600 or property in Gozo and the Southern Region of Malta at €8,750 in annual rent.
Beneficiaries of special tax status granted in terms of the Global Residence Programme will need to pay a minimum tax of fifteen thousand euro (€15,000) annually. This minimum tax covers income of the beneficiary and his / her dependants mentioned below that arises outside Malta and is received in Malta and does not include income that arises in Malta.

If you have any further queries or would like to know more in detail about the Global Residence Programme, kindly contact us on info@busuttilmilloadvocates.com or leave us a message below.

 

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