Residency
There is no doubt that the island of Malta and its sister island, Gozo, are appealing to expats. Many have visited the island on holiday, fell in love and eventually went on to relocate their family to the islands. The charm of the archipelago and the Mediterranean climate and lifestyle are key pull factors, as is the strategic location. Investors, entrepreneurs and professionals can seek to apply to the residency programmes that Malta offers, whilst providing access to the Schengen travel benefits.
At Pauliana Said Accountancy and Tax Consultants, we are ready to guide our clients through the complex application process. The first task is determining which programme is best suited to our client. Malta currently offers three different programmes.
The Malta Permanent Residency Programme (MPRP)
The MPRP is open to non-EU-nationals. It is tied to a minimum property investment either in terms of purchase value (€375,000) or yearly rent (€14,000) that is held for a minimum of five years. The application comprises a contribution to the Maltese Government and other prerequisites, such as making a donation to an NGO registered with the Commissioner of Voluntary Organisations.
The Global Residence Programme (GRP)
The GRP is aimed at on-EU nationals seeking tax residency in Malta (as opposed to rights of residency). Similar to the MPRP, it is tied to minimum property investment and has a flat 15% tax rate on foreign income remitted in Malta.
The Nomad Residency Permit
The third programme is for remote workers who are choosing Malta as their base from where to work remotely. This option, open for third-country nationals, requires an income of at least €42,000 and provides beneficiaries with a renewable residency permit and access to the Schengen area.
Our services in this sphere include legal and tax restructuring to ensure compliance with Maltese regulations, along with connecting clients with real estate professionals to help with property assistance. Naturally, we will handle all the facets of the application processing, liaising with authorities and managing the necessary paperwork. Once residency is granted, we will provide ongoing compliance support vis-à-vis yearly tax filings and meeting other programme requirements.
Malta’s residency programmes have been providing a stable and tax-efficient option for individuals and families for a number of years. Our expertise in taxation, residency and wealth planning will help you go through the process smoothly. Get in touch today for a consultation!