Global Residence Programme

New Global Residence Programme has been launched in July 2013. The programme grants non-EU, non-EEA and non-Swiss nationals a special tax status in terms of the Global Residence Rules.

Persons who are eligible under the Global Residence Scheme will be subject to tax in Malta at a favourable flat rate of 15% on a remittance basis. Minimum tax payable per annum in terms of any income arising outside Malta shall be equivalent to €15,000.00. An eligible person will not be chargeable to tax in Malta on foreign source capital gains. It is to be kept in mind that local source income and gains would be taxable in Malta at the higher rate of 35%. Lastly, any income derived in Malta or any foreign sourced income brought to Malta by a dependent will be subject to 35% tax.

An applicant will need to satisfy the following conditions to apply for the Global Residence Scheme:

• be in possession of a valid travel document and must qualify as a fit and proper person;
• to acquire immovable property in Malta. Immovable property must qualify under the following “qualifying property” rules:

- the applicant may purchase a qualifying property – the value of the property must be a minimum of €275,000.00 if found in Malta and a minimum of €220,000.00 if found in Gozo;

- the applicant may lease a qualifying property – the value of the lease of the property must be of a minimum of €9,600.00 if found in Malta and €8,750.00 if found in Gozo.

• be in possession of an appropriate health insurance which covers for Maltese hospital medical expenses;
• the applicant and his family are NOT permitted to reside in any other country or jurisdiction for a period exceeding 183 days, thereby becoming tax residents therein.