Residence & Visa Program of Malta
If you are a citizen of countries such as India, China, Japan, Indonesia, Australia, South Africa, Mexico, Canada, Russia, Singapore, Middle East etc., and some of the other countries that have had more difficulty with the residency & Visa program then Malta is the place to go. Currently Malta is very stable and the economy is growing fast particularly in the high tech & Financial sector. Malta also offers residency for a very reasonable investment cost.
Malta is in the Schengen area which is a group of countries that have got rid of passport and immigration controls at their common borders. People travelling to and from Schengen areas will not need to have their passports checked at the borders, however at anytime of travel, Immigration Police may request to check documents.
Maltese Government introduced a new Residency & Visa program. This offers special tax status to third country nationals (except for EEA and Swiss nationals) in Malta. To apply for this program you need to satisfy certain criteria such as buying or renting property in Malta and paying a minimum annual tax liability on foreign income received in Malta.
Below are the complete details of Malta’s Residency & Visa Program.
DETAILS INSIDE:
1) Residence & Visa Program of Malta
2) Benefits
3) Mandatory Requirements
4) Setting up Tax Residency in Malta.
5) Tax Benefits
6) Processing of Application.
7) Complete Quotation
8) Contact details
9) Countries & Destinations we serve
10) Disclaimer
Residence & Visa Program of Malta
This Program provides for Globally qualified persons in terms of financial requirements of impeccable standing & repute to obtain residency in Malta based on the contributions & investments in Malta.
Benefits:
Qualified applicants will get Maltese residency card with the following benefits:
Maltese Residency Card holder have right to be resident, settle, work & stay in Malta indefinitely.
Residency card holder can travel VISA free throughout 26 members of the European Union Schengen area
The above benefits cover main applicant as well as dependents including spouse or partner, children below the age of 18 & main applicant’s parents and their spouse & children above the age of 18 provided that they are unmarried & dependent on the main applicant financially.
Mandatory Qualifications:
Following are the requirements to qualify for Residence & Visa Program
Applicant need to invest in Property not less than €320,000(€ 270,000 in Gozo or the South of Malta) Or….
Rental Contract arrangement for not less than €12,000 (€10,000 in Gozo or the south of Malta) Or…
Declaration of Annual income of more than €100,000 from outside Malta. Or…
Declaration of Capital Reserve of more than €500,000
One time contribution of €30,000 to the Government of Malta
Investment of not less than €250,000 either in Debt of Equity on the Malta Stock Exchange for at least 5 years.
Obtain health insurance covering the European Union
Obtain valid travel documents
Setting up Tax Residency in Malta.
Following are the basis to establish tax residency in Malta :
Either by demonstrating an intention to reside in Malta indefinitely
Or by establishing physical presence in Malta not less than `83 days per annum.
TAX BENEFITS
Malta has about 60 Double Taxation Avoidance Agreements (DTAA) with many leading countries across Globe with the sole purpose of avoiding taxing of income twice. The income & Capital gains earned within Malta are taxed subject to the personal income tax in Malta. Following are the advantages for non-domiciled tax residents:
No need to pay income tax on any overseas income, unless it is remitted to Malta
Capital & Savings remitted to Malta are exempted from all kinds of taxes
Zero capital gain tax on assets based outside Malta
No Inheritance Taxes
Processing of Application
We are the group of dedicated professionals ensuring clients with proper advice, all kinds of support during the application process. With our extensive network of offices and professional service partners we have been able to work closely with our clients in every step of the application process, making sure that our clients successfully qualifies, done with process & finally obtain residence under the Malta Residence & Visa Program.
Complete Quotation
To arrive at the total costs for applying under Malta Residence & Visa Programme we need to check many factors like, type of residence selected, total number of family members, number of Minor members included in the application made etc.,
Contact for more details:
India, Bahamas, Bahrain, China- Beijing, Shanghai, Cyprus, Gibraltar, UK-Londan, UAE-Abu Dhabi, Dubai, Turks & Caicos Islands, Mauritius, Malta, Isle of Man, Hong Kong, Guernsey.
Disclaimer
As we have made every possible effort to ensure correct & accurate details, still the above information and any part of its content does not constitute legal or any other form of binding advice. We are not responsible, legal or otherwise for any kind of errors & omission.
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