The Maltese Government has introduced a new residence programme, which is available to non-EU individuals and enables them to reside or stay indefinitely in Malta.
The criteria for the new residence programme are:
- a €30,000 contribution to the Maltese Government; AND
- an investment of a minimum €250,000 in Malta for at least 5 years; AND
- the purchase of a property in Malta to the minimum value of €320,000, or rental of a property in Malta for a minimum of €12,000 per annum. The property must be owned or rented for at least 5 years.
This new residence programme is available in addition to the existing four Maltese Residence Programmes.
Individuals, taking advantage of this programme, who are not of Maltese origin and intend to stay in Malta for some considerable time but do not intend to permanently establish themselves there, will be classified as resident but not domiciled in Malta.
Such individuals will be taxed on Malta source income and certain gains arising in Malta. They will not be taxed on non-Malta source income not remitted to Malta. Capital gains will not be taxed even if they are remitted to Malta.
The benefits of the Malta Individual Investor Program (Malta IIP) are
- EU citizenship and there are no restrictions on dual citizenship in Malta
- Visa free access and right to live and work in all EU Member States
- Visa free travel to more than 160 countries in the world
Malta is a developing country with a growing economy. It has a very strong legal system and enjoys a highly evolved educational system and excellent health services. Malta is known for being a picturesque island and a gateway to Europe and Africa. There are two official languages spoken; English and Maltese with the majority of the island speaking English. Malta prides itself on being a safe environment for families with a very low crime rate.