The Maltese Government has launched the latest residence scheme by the name Malta Global Residence Programme or GRP that opens up the doors to relocation by non-EU, non-EEA as well as non-Swiss nationals satisfying the revised minimum investment or rental thresholds and enjoying a lower minimum tax requirement. The individuals under this program enjoy a lot of benefits. The Global residence permit holders enjoy a flat rate of personal income tax of 15%, chargeable only on a remittance basis. Foreign source income received in the archipelago island is subject to Malta tax only if remitted to Malta while foreign capital gains are altogether outside the scope of tax in Malta.
Local income sources arising from business, investment or other economic activity held in the island is subject to tax at 35%. The minimum tax under the present HNWI Rules has been reduced from 25,000 Euros for the applicant (plus an additional €5,000/dependent) to a minimum tax of 15,000 Euros under the Global Residence Program, covering all dependents. Unlike the HNWI Scheme, the Global Residence Program will no longer require a Bond.
Malta is a full signatory of the Schengen Area Treaty. It has signed back in the year 2007 & subsequently fully implemented, resulting in Malta integrating with all the Schengen states in a visa-free movement zone. Learn all the details about the program with Procitizenship.
European Temporary Residency for the whole family
Malta boasts a diverse multi-faceted history, paired with a remarkable geographical location, excellent weather & relatively a safe destination. The place features high quality and low-cost life. It is safe, secure and full of scenic beauty. The megalithic structures here are claimed of being the oldest free-standing edifices in the world, predating Stonehenge. Wherever one goes or meets, they always find that they are somehow connected either through family, friends, workmates, etc. The country is also unique due to its short distances, great weather, beautiful sea and the fact that no one is more than 30 minutes away. Wherever on the island, you are always only a maximum of 20 minutes away from the beautiful sea and the coast. The size of Malta makes traveling abroad convenient – the Malta International Airport is easily accessible from all around the island, so traveling for even a short break is worthwhile. Come settle in Malta and Procitizenship will make it easy for you!
|Global Residency Program(GRP)||Malta Residence andVisa Program (MRVP)|
|Tax Rate||15%||0% – 35%|
|Property Purchase||Central/North EUR275,000South/Gozo EUR220,000||Central/North EUR320,000South/Gozo EUR270,000|
|Property Rental||Central/North EUR9,600South/Gozo EUR8,750||Central/North EUR12,000South/Gozo EUR10,000|
|Minimum Stay in MT||Zero||Zero|
|Official Application Fee||EUR6,000||Zero|
|Bond / Shares Investment||Zero||EUR 250,000 for 5 years|
|Dependants||Spouse, Children up to 25 years, brothers, sisters and parents(If financially dependent)||Spouse, Children up to 26 years+ Parents & Grandparents |
(if financially dependent)
There are numerous benefits for South Africans that the Malta GRP program offers :
Does Malta allow me to keep my original citizenship and also my residency?
Under the Maltese Citizenship Act, a person is allowed dual citizenship. Therefore, all the Maltese citizens enjoy this right without any distinction.
Will the Malta Global Residence Program automatically grant me European citizenship?
The Malta Global Residence Program will grant you visa-free travel to all Schengen Areas that include most European states, Switzerland, Iceland, Liechtenstein, and Norway.
Will my Global Residency expire?
Global Residency has to be renewed every year and the residence card needs to be renewed every two years. The renewal of the Uniform Residence Permit is conditional to the applicant & dependents satisfying the minimum conditions for the preceding year. But for forthcoming period for which the Uniform Residence Permit is given. It includes payment of the minimum tax & a declaration that the applicant has not been resident for more than 183 days in any other single jurisdiction.
To be eligible for submission of GRP or Malta Global Residence Program application you must:
For a successful application to Malta’s Global Residence Programme or GRP, several conditions must be satisfied. If applying you must:
HEALTH FIRST IN MALTA
No there is no expiry date on the scheme, however the program is a temporary residence permit procedure in Malta.
The Malta Global Residence Program is only for the third nationals. The European, EEA & Swiss nationals cannot apply for it.
To obtain a residence permit in Malta under GRP, the applicant is not required to reside in Malta.
The Application form and any other documents must be in English.
Yes, you will be able to travel to the United States as a Malta passport holder.
No, you are not required to invest in a Malta business/create employment opportunities to be eligible for the Global Residency program.
The Malta Global Residence Program (GRP) is only for the third nationals. The European, EEA & Swiss nationals cannot apply for it.
A parent but not grandparent of the main applicant can apply for it. The condition is that he/she should prove to the satisfaction of the Minister that he/she is not economically active and is principally dependant on the Main Applicant, is eligible as a dependant.
The €6,000 covers the entire family but a residence card processing fee applies when a residence card is issued or renewed. The fee is €27.50 for a one-year time period/person.
The validity period of the residence card under the Global Residence Program is 2 years.
There is no investment needed at all.
No, the Global Residency Program doesn’t lead to citizenship. However, you are able to upgrade to the Citizenship program whenever you wish to.
No, the minor children of the main applicant need to visit Malta and file an application.