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The Global Residence Programme addresses non-EU, non-EEA and non-Swiss nationals only. As in all other personal tax incentives that Malta offers, individuals qualifying under this programme are subject to a favourable flat rate of tax of 15% on income remitted to Malta. Any Income that arises in Malta will be taxed at a flat rate of 35%. The minimum yearly tax payable when an individual qualifies under the Global Residence Programme is of €15,000 and this shall cover all dependents.
The definition of dependents not only includes simply the wife and children with the latter being capped up to the age of 25 but also includes dependent brothers, sisters and direct relatives in an ascending line provided that the Director of Inland Revenue is satisfied that these are dependents of the beneficiary of the Programme. Employees such as, carers/butlers and other persons that may have been in the employmentof the applicant for the preceding two years have also been provided for in the this Residence Programme.
To qualify under the Global Residence Programme applicants are required to purchase a property in Malta with a value of €275,000 or more. Properties located in Gozo or the South* of Malta have a lower threshold starting from €220,000 or more. Alternatively, foreign nationals who are interested in renting a property, can do so and still be eligible under this programme given that the annual rental value of the property being rented is of at least €9,600 per annum (or €800 monthly) in Malta. Similarly this threshold is slightly lower for property in Gozo and/or the south of Malta starting from €8,750 per annum (or €730 monthly).
The Programme requires the use of an Authorised Registered Mandatory in Malta to submit the application on behalf of the client. This should ensure that applications are dealt with in a professional and regulated manner. Applicants authorized under this Programme and granted the Uniform Residence Permit will be monitored to ensure that both the applicant and dependents are covered by an all-risks medical insurance policy in Malta.
The yearly renewal of the Uniform Residence Permit will only be given on condition that the applicant and dependents have not only satisfied the minimum conditions for the past year but will also satisfy the conditions for the forthcoming period for which the Uniform Residence Permit is given. This includes the payment of the minimum tax.
The immovable property declared as the applicant’s residence in Malta cannot be used by any other person other than dependents or those in his employ. The applicant may not rent out the property being declared as his/her residence in the application for whatever period and in whichever location. In addition, the applicant may not be resident for more than 183 days in any other single jurisdiction.
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* For the purposes of this Scheme, the localities deemed as forming part of the south of Malta are the following: Birżebbuġia, Cospicua (locally known as Bormla), Fgura, Għaxaq, Gudja, Kalkara, Kirkop, Luqa, Marsascala (locally known as Wied il-Għajn), Marsaxlokk, Mqabba, Paola (locally known as Raħal Ġdid), Qrendi, Safi, Santa Luċija, Senglea (locally known as Isla), Siġġiewi, Tarxien, Vittoriosa (locally known as Birgu), Xgħajra, Żabbar, Żejtun and Żurrieq.]