Global Residence Program
The Global Residence Program is a special tax program, intended for any non-EU/EEA citizens seeking Schengen residence coupled with favourable taxation rates, but without the need for an EU passport.
Right for long term residence in the EU and to apply for work permit
Free move around countries in the Schengen Area, with the right to stay in one place for up to 90 days
Special tax status: 15% on foreign sourced income remitted to Malta
Family and domestic staff can be included in the application
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Conditions to Apply
You must be in receipt of a stable and regular income.
Buy Or Rent a Property
You’ll need to either purchase or rent a property. Below are the conditions for each respectively.
Purchase a property for not less than €275,000. Should the property be situated in Gozo or in the South of Malta, the purchase value should not be less than €220,000.
Rent a property for not less than €9,600 per annum. Should the property be situated in Gozo or in the South of Malta, the rental value should not be less than €8,750 per year.
You should have a health insurance covering the EU territory.
Reside in Malta
You’ll have to spend 183 days living in Malta.
You’ll need to apply for a residence card on the basis of the Global Residence Program.
A one-time registration fee amounting to €6000 is levied by the Malta Government.
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You have questions? We have answers!
What is the difference between the MRVP and the Global Residence Program?
The main difference between the Global Residence Program (GRP) and the Malta Residence and Visa Program (MRVP), is that the MRVP is a permanent residence programme, whilst the GRP is a tax residence programme, which results in the individual being tax resident in Malta. Once an individual obtains residence in Malta through the MRVP he/ she has obtain a permanent residence status which is valid indefinitely, on the other hand, the GRP status needs to be reviewed annually. The MRVP does not automatically lead to tax residence in Malta (it can, at the option of the client). As a tax programme, the GRP also has a minimum annual tax liability of 15,000 euros. No such minimum tax exists under the MRVP. In terms of costs, the MRVP presents a higher one time investment requirement, whilst the GRP has a higher annual fee, which is the above mentioned minimum tax liability. With other words, one is a pure immigration status (MRVP), the other a tax status.
In which cases would the Global Residence Program be beneficial?
The Global residence programme would typically be of benefit in situations where you have significant foreign income which you wanted to / needed to receive in / remit to Malta, therefore the flat 15% tax rate on such income arising outside of Malta which is received in Malta, would be attractive as compared to the general progressive tax rates up to a maximum of 35%. However this should really be examined on a case by case basis depending on your personal circumstances, plans and aspirations.