GLOBAL RECIDENCY PROGRAMME (GRP)
Main benefit
With this programme the main applicant and his dependents of residency rights in Malta (Europe).
Timeline
Residency cards can be obtained after 2 to 4 months from submission of a complete application.
Overview
The GRP follows a historical tradition of programmes aimed to attract High Net Wroth Individuals to Malta. Since the 1960’s Malta has used similar programmes to attract persons willing to buy or lease property in Malta. This latest version was introduced in 2013 and it also grants the applicant the possibility to obtain a tax residence certificate and pay personal tax in Malta on a remittance basis.
Other benefits of the GRP;
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There is no residency requirement although permit holders are required not to be resident in any other jurisdiction for more than 183 days per year.
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Spouses, civil partners, children up to 25 years of age and parents over 55 years of age can be included in the application and obtain a residence card;
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Malta residence can be used for tax optimisation since applicants will pay the minimum tax and all other income can be remitted to Malta and charged at 15%. Further information can be given on a case by case basis;
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Ability to obtain a work permit for you and your family;
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The right to move in Schengen area of the European Union.
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The right to include household staff provided that they have been in employment for more than 2 years.
Main requirements to obtain the status under the GRP
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Be at least 18 years of age;
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Has stable and regular resources which are sufficient to maintain him/herself and any of his/her dependants;
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Be in possession of valid travel documents and was never denied a vista from a country in which Malta has visa free travel arrangements;
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Applicants need to undergo a fit and proper test;
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Be fluent in one of Malta’s official languages, Maltese or English;
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Be in possession of global health insurance in respect of all risks covered for Maltese Nationals;
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Possess a certificate of good overall health from a reputable health care provider;
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No more than 183 days residency in another jurisdiction.
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Hold a qualifying property,
275,000 Euro in the case of Malta, or,
220,000 Euro in the case of Gozo or south of Malta.
The following are considered as towns in the south of Malta;
Birżebbuġia, Cospicua, Fgura, Għaxaq, Gudja, Kalkara, Kirkop, Luqa, Marsascala, Marsaxlokk, Mqabba, Paola, Qrendi, Safi, Santa Luċija, Senglea, Siġġiewi, Tarxien, Vittoriosa, Xgħajra, Żabbar, Żejtun and Żurrieq
Kindly note that there will be fees payable to estate agencies, professionals and to the government in relation to your purchase.
Ongoing obligations:
a) Minimum tax payment of €15,000 including for the first and final year that the applicant is tax resident in Malta. This income has to be made up from sources arising outside Malta.
b) Submit an annual return declaring any material changes to personal circumstances.