The Global Residence Programme is aimed at non-EU nationals offering great advantages and favourable thresholds.
The Global Residence Programme in brief:
Under the Global Residence Programme, the value of the immovable property bought in Malta by foreigners has to be at least €275,000. However, when the property is in the south of Malta or in Gozo, the minimum value can be €220,000.
- Applicants will also be eligible if they rent property on an annual basis of €9,600 in Malta and €8,750 in Gozo or in the South of Malta.
- Minimum tax to be paid in advance reduced to €15,000 on income derived in Malta, with further income charged at 15%.
- Residents under this Programme and their dependents, have to be covered by health insurance. They will not be entitled to free state health services.
- The new Residence Programme for Foreigners replaces the High Net Worth Individuals Scheme for non-EU foreigners.
- A standard application processing fee of €6,000 is applicable if a property is purchased in Malta and €5,500 if the property is bought in Gozo or South of Malta.
- There are no minimum stay requirements.