Relocating to Malta
Malta is the jewel of the Mediterranean.
An island bursting with personality and charm, almost year-round sunshine, vibrant cuisine, abundant history and culture,English-speakinglanguage,bustlingcitycentersand laid- back coastal towns.
It is the smallest member of the European Union, with one of the highest expat populations.
An island located in the middle of the Mediterranean, forming part of an archipelago of three islands – Malta, Gozo, Comino. Malta is a popular destination for expatriates who choose the island due to its warm climate, English speaking language, laid-back Mediterranean lifestyle and abundance of history and culture. Expatriates choose Malta as a relocation destination for more reasons than the warm climate – there are numerous financial and lifestyle incentives for foreigners looking to become a resident on the island, these include advantageous tax incentives, various visa and residency programs which require purchasing or renting property on the island. We are here to help with any tax and residency enquiries that your might have through our collaboration with local law firms that specialise in this area.
A ‘TCN’ Third Country National (non-EU/EEA/Swiss) is permitted to stay in Malta for a maximum of 90 days within a 180-day period unless they are in possession of a valid Maltese/EU residence card or long-stay visa. There are two types of visas which can be obtained to enter Malta: -The National Visa – a visa which is issued for a period of more than 90 days but not more than 365 days. -The Schengen Visa – a visa which is issued for a period not exceeding 90 days
UK NATIONALS IN MALTA – BREXIT: As from 1st January 2021, UK nationals are considered TCN. UK nationals who wish to relocate to Malta for employment or otherwise must obtain the relevant permit and will be subject to the 90-day rule
Highly Qualified Persons Rules (HQP)
The Highly Qualified Persons Rules (HQP) is a programme that allows employees engaged by licensed/recognised operators in the financial services, remote gaming and aviation sectors to benefit from a flat rate of 15% tax on employment income derived in respect of work or duties carried out in Malta (or in respect of any period spent outside Malta in connection with such work or duties).
The applicant must directly or indirectly acquire real estate rights over immovable property situated in Malta or must hold a beneficial interest directly or indirectly consisting in inter alia of real rights over immovable property situated in Malta.
Individual Investors Programme (IIP)
The Individual Investors Programme (IIP) was launched by the Maltese government in 2014 with the intent and aim to attract quality investors to Malta, create new opportunities and thus a positive economic contribution to the country. All beneficiaries under the programme are granted Maltese citizenship and issued with a Maltese passport.
A holder of a Maltese passport is not only entitled to study, work and reside anywhere within the European Union, but the passport also provides visa free travel to over 165 countries. Among the list of eligibility criteria is the acquisition or leasing of a Qualifying Immovable Property in Malta.
Malta Residence & Visa Programme (MRVP)
Beneficiaries under the Malta Residence and Visa Programme (MRVP) will be issued with a Maltese residence card valid for an initial period of five years and renewable every five years thereafter. A residence card will be issued – one which will entitle the holder to reside, settle and stay in Malta indefinitely, as well as to travel within the Schengen area without the need for applying for additional visas.
In this case, applicants must be third-country nationals (TCN) and not citizens of Malta, the EU, EEA or Switzerland. Among the list of eligibility criteria is the acquisition or leasing of a Qualifying Immovable Property in Malta.
Global Residence Programme (GRP)
Those qualified to benefit from the Global Residence Programme (GRP) will be issued with a residence permit entitling them to reside in Malta and travel freely within the Schengen area without the need of applying for additional visas. They will also benefit from a reduced fixed tax rate of 15% on all foreign-sourced income that is remitted to Malta. One must of course take the eligibility criteria into consideration. An individual shall therefore be entitled to apply for special tax status under the programme. Property conditions must also be adhered to as follows:
The main applicant purchase an immovable property in Malta for a minimum value of € 275,000 (or in Gozo or the south of Malta for a value of not less than €220,000); or
Lease an immovable property in Malta for not less than € 9,600 per annum, (or in Gozo or the south of Malta for an annual rent of not less than € 8750). The qualifying property must be retained and not shared with any persons not listed as a dependent on the certificate.