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Aiming to cover the needs of Private Clients, The Residence Programme (TRP) is catered for wealthy individuals from the EU, EEA or Switzerland interested in gaining tax residence in Malta.
The Residence Programme – Malta
A Tax Residence Programme for EU, EEA or Swiss nationals.
This Tax Residence Programme is aimed to attract wealthy individuals from the European Union, Switzerland or the Economic European Area seeking to take up tax residence in Malta. The Residence Programme (TRP) Rules were introduced in June 2014.
What are the main requirements to apply for The Residence Programme?
The applicant and their family must be represented by an Authorized Registered Mandatory (ARM) like CSB Group, who will advise and process the application for The Residence Programme.
Also, applicants have to be EU, EEA and Swiss nationals as “third-country nationals” cannot apply for The Residence Programme (but “third-country nationls are allowed to apply for the “Global Residence Programme”).
Aside from passing a “fit and proper” test, having health insurance ad submitting all the relevant documentation, applicants will need to hold a qualifying property in Malta with the following criteria:
- Property Requirement:
- Purchase of a property for a minimum of EUR220,000 if located in Gozo or South of Malta or EUR275,000 if located elsewhere in Malta
- Rental of a property for a minimum of EUR8,750 if located in Gozo or South of Malta or EUR9,600 if located elsewhere in Malta
The above property requirement plus, a non refunadable application fee of EUR5,500 if the property is in Gozo or the South of Malta or EUR6,000 if situated elsewhere in Malta is applicable when applying for The Residence Programme.
The Residence Programme: The Benefits
Applicants taking up residence in Malta through The Residence Programme will benefit from a special and favourable tax status and treatment:
- no Malta tax would be chargeable on income arising outside Malta which is not received in Malta;
- no Malta tax would be chargeable on capital gains realised outside Malta even if these are received in Malta;
- income arising outside Malta which is received in Malta would be chargeable to tax in Malta at the flat rate of 15%;
- income arising in Malta and capital gains realised in Malta would be taxable in Malta at the higher rate of 35%;
Also, applicants will be entitled to the relief of double taxation otherwise suffered on income arising outside Malta.
How we can help you?
With over 30 years of experience in the corporate and financial services industry in Malta, CSB Group is commited to provide top-notch services to Private Clients worldwide. CSB Group, has been providing Investment immigration services to High-Net-Worth families since the inception of these programmes.
As an Authorized Registered Mandatory (ARM), the CSB Group Advisory team will be happy to assist you and provide you with a quote The Residence Programme (TRP) that can satisfy the needs of you and your family.
Our team will guide you through the process of becoming a resident in Malta through the Residence Programme (TRP) whilst the Consultants from Sotheby’s International Realty will be able to find you the right property to fulfil the investment criteria and your investment needs.
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