Malta Residence Programme for EU Nationals
The Malta Residence Programme for EU nationals has just been launched to attract wealthy individuals and families who do not already enjoy permanent residence status in Malta, to take up residence in Malta.
The Malta Residence Programme – Tax Benefits
The tax benefit will consist mainly of the right to pay tax at a flat rate of 15% on all foreign source income which is remitted to Malta. Any other income (such as local source income) is subject to a flat rate of 35% tax. This is subject to a reduced minimum annual tax liability of €15,000 covering the main applicant and dependents included on the same application.
Terms of the new Malta Residence Programme
Buying a Property
Applicants must own a property in Malta which is purchased for at least €220,000 for property purchased in Gozo or in the Southern region of Malta. If the property is purchased in any other area, applicants must purchase a property for at least €275,000.
Renting a Property
The applicant may opt to rent a property of which the minimum rental is €8,750 per annum if rented in Gozo or in the Southern region of Malta and a minimum of €9,600 per annum if rented anywhere else in Malta.
A non-refundable administrative fee needs to be paid in respect of any application for special tax status, including the Malta Residence Programme. The official application fee is that of six thousand Euros (€ 6,000) except where the qualifying owned property is situated in the South of Malta, in which case the administrative fee is reduced to five thousand five hundred Euros (€5,500).Contact us for more information