The Global Malta Residence Programme (GRP) was enforced in 2013. This programme enables non-European individuals to apply to reside in Malta and enjoy a Special Tax Status under the new regulations.  Global Malta Residence Programme is ranked amongst the top schemes where non-EU Nationals may choose to change their tax-domicile and enjoy benefits of living in the EU, not to mention a country that has been ranked as the top country to live, work and retire in several publications,
This information has been assembled by JK Group in order to update its clients with the latest information on the Global Residence Programme, as well as advise them of the benefits available to them when either purchasing or renting property in Malta.
The Maltese Governments is constantly aiming to attract foreign investments to the island, whereby one of the conditions is that the investor is required to buy or let a property in Malta. This property will then become the individuals’ main residence where s/he will be taxed at the favourable rate of 15% on his/her income generated outside of Malta. The purchase of Maltese real estate is not only a safe in terms of investment, but the process is well-controlled with contracts drafted in the English language, with the option to translate into another official European language. The same is true when it comes to renting – the contract is legally binding and the consumers’ rights are protected in accordance with European Law. As the leaders in Maltese Real Estate, we constantly aim to ensure that our clients are served professionally and well-informed throughout the process – from its inception right through to the signing of the contract.
For one to be eligible for the Global Residence Programme, there are a number of criteria that need to be satisfied. Below is a list of said criteria that has been taken from the Income Tax Act that was recently amended to provide for the Global Residence Programme.
The current Global Residence Programme is particularly attractive for Asians, South Africans and Americans. The Maltese Government should also be revising other schemes for the benefit of Europeans / SWISS and EAA Nationals.
The below are the Global Residence Programme Rules in accordance with Legal Notice 167 of 2013 and included in the Income Tax Act (Cap. 123):
  1. Applications are to go through an Authorised Mandatory – a warranted individual who practises as an Advocate under the Code of Organization and Civil Procedure, a Notary Public,  an Accountant, a member of the Institute of Financial Practitioners, Malta Institute of Taxation, Malta Institute of Accountants and the Institute of Management;
  2. The individual cannot be a beneficiary of any other Residence Scheme regulations, Malta Retirement programme, the High Net Worth Individuals – Non-EU/EAA/Swiss National Rules, the Qualifying Employment in Innovation and Creativity Rules or the Highly Qualified Persons Rules. Transitory provisions have also been published for this Scheme
  3. If the individual is residing with a beneficiary of any of the above mentioned schemes (Pt2), s/he is unable to apply for the Global Residence Programme.
  4. Individuals may apply by paying a non-refundable administration fee of €6,000 (six thousand euro) for those applying to reside in Malta, or €5,500 (five thousand and five hundred euro) for those applying to reside in Gozo or the South of Malta.
  5. The property (“Qualifying owned property” of “Qualifying rented property”) selected by the individual must fit the below criteria:
    1. A “Qualifying owned property” must have a minimum value of €275,000 if purchase in Malta, or €220,000 if purchase in Gozo or the South of Malta.
    2. A “Qualifying rented property” must be rented for a minimum of €9,600 p.a. if in Malta, or a minimum of €8,750 if in Gozo of the South of Malta.
    3. Other criteria includes:
      1. Those applying must be in receipt of a stable and regular income which is adequate enough for him/herself and his/her dependants without the need of the social assistance system in Malta
      2. Individual must possess valid travelling documents
      3. Individual must possess insurance to cover all risks across the European Union for both him/herself and his/her dependants, as is normally covered for Maltese nationals.
      4. The individual must be able to speak at least one official language of Malta (Maltese or English);
      5. Individual must be a fit and proper person.

Tax Benefit

Individuals that are accepted by the Commissioner of Inland Revenue will immediately benefit from a tax status of 15% on any income generated outside of Malta in the year preceding his/her year of assessment, which is received in Malta by the beneficiary, his/her spouse and his/her children. It is also possible for the individual to claim relief on double taxation under article 74(a) and (b) of the taxation act, with a minimum amount of tax payable set at €15,000 for any year of assessment. 

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