GRP is a residential program that provides exceptional tax status applicants. It is designed to attract people who are not EU, EEA, or Swiss citizens and who are not long-term Maltese residents. The Malta Global Housing Program was launched to attract non-EU / EEA / Swiss businessmen, high net worth individuals, and investors. Successful applicants have been given special tax status by setting a personal tax rate of 15% on external sources of income generated by Malta through this program.
Benefits of Maltese Residency
Visa-free travel to all Schengen areas. The Schengen site includes most European states. Malta’s tax structure appeal to high net worth individuals. Malta has a stable political, social and economic environment. Malta has tax agreements with more than 70 countries. Malta is strategically located with major international flights and maritime links. English speaking environment. It is tied to the world’s 14th safest banking system (US – 24th, Germany – 53rd, UK – 59th) [World Economic Forum, 2018].
Eligible for The Global Residence Programme (GRP)
A successful application for Malta’s Global Housing Program (GRP) must meet several conditions. If you are applying, you must. Become a non-EU / EEA / Swiss citizen. Achieve a regular and stable income that is sufficient to support oneself and any dependents. You can not be a person who is benefiting from another Maltese housing or employment program. It must be a valid travel document. Have a European health insurance policy for yourself and your dependents. Be able to communicate appropriately in Maltese or English. Become a competent and appropriate person with no criminal record.
Similarly, a diligent effort was made by the Maltese Inland Revenue Department before granting special tax status. Keep the qualifying property. This property can be purchased in Malta for as little as 275,000 (or 2 220,000 in Gozo or the south of Malta). On the other hand, applicants can also rent property in Malta for a minimum of ، 9,600 per year (or € 8,750 if rented in Gozo or southern Malta).