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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 (GRP) Rules were introduced by June 2014.
Which are the main requirements to apply for The Residence Programme?
The applicant and his 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 they are allowed in “Global Residence Programme”).
Aside from passing a “fit and proper” test, having health insurance and submitting all the relevant documentation, applicants will need to hold qualifying property in Malta with the following characteristics:
- Purchase of property for a minimum of €220,000 if located in Gozo or South of Malta or €275,000 if in Malta
- Rental of property for a minimum of €8,750 if located in Gozo or South of Malta or €9,600 if in Malta
The above property requirements plus an Application fee of €5,500 if the property is in Gozo or the South of Malta or €6,000 is situated in Malta is applicable when applying for The Residence Programme.
Eligibility for The Malta Residence Programme (TRP)
Only EU nationals (not Maltese) are eligible, as well as citizens from Iceland, Norway, Lichtenstein and Switzerland.
The dependants that can be included in the application are:
- The beneficiary’s spouse;
- Minor children and children who are in the care and custody of the beneficiary or the beneficiary’s spouse;
- Children including adopted children and children who are in the care and custody of the beneficiary or the beneficiary’s spouse, who are not minors but who because circumstances of illness or disability of a serious gravity, are unable to maintain themselves.
Adult dependents must be able to prove that they are not fully economically active and are principally dependent on the Main Applicant.
The Residence Programme: Special Tax Status
Applicants taking up residency in Malta through The Residence Programme will benefit from a special and favourable tax status and treatment:
- A flat rate of 15% for all income remitted to Malta, and no tax for income generated outside Malta but not received in Malta;
- In regards to capital gains, no Malta tax would be chargeable even if received in Malta, and realized outside;
Also, applicants will be able to relief from double taxation which is received in Malta but taxed outside Malta.
The minimum tax covers the income of the beneficiary and his / her dependants mentioned below that arises outside Malta and is received in Malta and does not include income that arises in Malta.
If the tax payable according to the tax computation (including any credit for relief of double taxation) is such that it is less than the minimum tax required to be paid as aforesaid, the amount to be paid will be the said minimum (€15,000).
In the year when the special tax status is confirmed or cancelled, the minimum tax will be paid in full.
How we can help you
With a history and tradition in Malta, CSB Group operates from Malta providing top-notch services to Private Clients worldwide. Having more than 30 years in the Service Industry has been advising worldwide Private Clients and High Net Worth families in their Investment Immigration needs since the inception of the programmes in the country.
As an Authorized Registered Mandatory (ARM) CSB Group Advisory team will be happy to hear from you and provide you with a quote from the Global Residence Programme that can satisfy you and your family needs.
Our team will guide you through the process of becoming a resident in Malta through the Global Residence Programme whilst the Consultants from Sotheby’s International Realty will be able to find you the right property for your investor’s needs that will fulfil the investment criteria.
Citizenship & Residence Planning Services
We offer assistance with the following programmes
In our dealings with CSB Group for over 10 years, we have found every member of the staff and leadership team to be wholly and completely knowledgeable and professional when doing business in, and from Malta.
Liberation Group Holdings
CSB Group have been loyal partners to our development-stage medical technology company. CSB provides local oversight to our Malta subsidiary that is thorough and compliant. As a result, we have the confidence that a successful development project should yield maximum value for our shareholders.
We have had the good fortune of working with Andres and his team at CSB on a variety of citizenship and residency matters for our clients. CSB has given us thoughtful and thorough advice and been an invaluable partner. Despite being many time zones and thousands of miles away, Andres and his team are incredibly responsive and willing to speak at any hour of the day. We would certainly recommend them to anyone seeking best-in-class legal advice related to global citizenship and residency issues.
An independent investment office
Thank you for making everything run perfectly smooth for us. Your team looks after us as if we were their parents and they are everything one can wish for; accurate, fast and with a vast knowledge. We are very fond of CSB Group and we are more than content.
Retired Swiss Entrepreneur
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