3 Tax Benefits for the Malta Global Residence Program

This Malta residency scheme was launched to attract Non-EU/EEA/Swiss entrepreneurs, High Net Worth Individuals and investors. The programme grants successful applicants special tax status by setting the personal tax rate to 15% on external sources of income remitted to Malta.

3 Tax Benefits of the Global Residence Programme

This special tax status already has numerous benefits such as having no minimum stay requirements in Malta and granting the applicant residency in Malta. However, there are three key tax benefits from applying to the Malta Global Residence Program.

1. There is NO tax on your worldwide income. If your income arises outside of Malta, it will not get taxed. 
2. There is NO tax on capital gains realised outside of Malta, even if this capital gain which you receive in Malta. 
3. There is a 15% flat rate of tax on income arising outside of Malta which you receive in Malta.

Are You Eligible for the Malta Global Residence Program (GRP)?

For a successful application to Malta’s Global Residence Programme (GRP), several conditions must be satisfied. If applying, you must:

• Be a non-EU/EEA/Swiss national;
• Receive regular and stable income which are of a sufficient level to be able to support yourself and any dependents;
• Not be a person who is benefiting from any other Maltese residence or employment programme;
• Must hold a valid travel document;
• Hold a European Health Insurance policy for yourself and any dependents;
• Be able to communicate adequately in Maltese or English;
• Be a fit and proper person with no criminal record. Similarly, a due diligence exercise carried out by the Maltese Inland Revenue Department before the granting of the special tax status.
• Hold a qualifying property. This property could be purchased in Malta for at least €275,000 (or €220,000 if based in Gozo or the South of Malta). On the other hand, applicants can also rent a property in Malta for at least €9,600 per annum (or €8,750 if rented in Gozo or the south of Malta).

The Global Residence Program targets individuals who plan to receive dividends or capital gains in Malta. The tax residence programme is not suitable for those who intend to work in Malta from overseas.

Are You Considering Applying?

If you are considering applying to the Malta Global Residence Program, we can help. Papilio Services are authorised registered mandatories through Identity Malta (ARM00905), therefore we will guide you through the process from start to finish with ease. Moreover, we can do the initial stages of applying to the process without having your presence in Malta. 

Contact us today to arrange a consultation by emailing us on enquiries@papilioservices.com or fill out the form below, and we will respond to you within 24 hours to discuss the Malta Global Residence Programme.