Why Should I Apply for Malta Global Residence (GRP)

Malta Global Residence Programme (GRP) comprises several benefits for its applicants. It is a fast process and takes four months to complete. You can get a work permit and pay a flat rate of taxation on your remittance. GRP also allows you to enjoy a high-quality life with a long-term residency in EU Schengen.

Taxation System for Maltese Global Residents 

After you obtain Malta residence under GRP, you will not pay any tax on the foreign-sourced income not remitted to Malta. There is also no tax on foreign-sourced capital gain whether or not you remit it to the island. Permanent Maltese residents have to pay tax at the flat rate of fifteen percent on remitted income.

Since Malta boasts over sixty double tax treaties, residents can enjoy their tax-free pensions at the source. Global residents can also benefit from the double taxation agreement that Malta has signed with most European countries a couple of years ago.

Nationals of an EU or EEA country and want to reside in Malta may not find the Global Residence Programme a suitable option to use. They can opt for Malta Ordinary Residence Scheme to take advantage of the taxation system, which does not impose any minimum liability on the residents.

Eligibility 

Nationals from non-Swiss, non-EEA, and non-EU can apply for Malta Global Residence Programme with their family and financially dependent ascendants. They must demonstrate financial sufficiency and possess valid sickness cover.

Other Requirements

Within a year of obtaining residence under the GRP, you will need to comply with the requirement of purchasing or renting a property in Malta and demonstrate an address that is available to you.

As the candidate for Malta Global Residence Programme, you need to meet the minimum property value of €275,000. You will also need to pay at least Euro 22000 to purchase a property in Gozo and the southern region. Candidates who do not want to buy a property can rent out one at €9,600 in Malta. Or, they can also rent a property in Gozo and the Southern Region of the country at an annual rent of €8,750.