Malta's Global Residence Program (GRP) is an attractive option for individuals looking to establish residency in a beautiful Mediterranean country. This program is particularly appealing for those who wish to enjoy a relaxed lifestyle, favorable tax conditions, and the ability to travel freely within the Schengen Area.
📋 Key Takeaways
- Allows non-EU nationals to live in Malta
- Applicants must prove they can support themselves financially
- Health insurance covering all family members required
- Property purchase or rental required within a year
- 15% flat tax rate on foreign income brought into Malta
Understanding the Global Residence Program
Overview
The Malta Global Residence Program (MGRP) is designed for non-EU nationals who want to live in Malta. This program allows holders to enjoy the benefits of residing in a beautiful Mediterranean country while also traveling freely across the Schengen Area.
Eligibility Criteria
- Must be a non-EU, non-EEA, or non-Swiss national
- Must demonstrate economic self-sufficiency
- Must have valid health insurance covering all family members
- Must possess a valid travel document
- Must either buy or rent property in Malta
Application Process
- Gather all necessary documents (proof of health insurance, financial stability)
- Submit the application along with required fees
- Wait for approval (typically around three months)
Benefits of the Program
Tax Advantages
One of the most appealing aspects is the tax benefits:
| Benefit | Description |
|---|---|
| Tax Rate on Foreign Income | 15% on income remitted to Malta |
| Exemption on Capital Gains | No tax on foreign-sourced capital gains |
| Minimum Tax Requirement | €15,000 annually for tax status holders |
Travel Benefits
As a member of the Schengen Area, Malta allows residents to travel freely across many European countries without needing additional visas.
Family Inclusion
The program allows the main applicant to include their spouse, children, and even dependent relatives in the application. Families can settle together in Malta, enjoying the benefits of this beautiful Mediterranean island.
Requirements
Property Acquisition or Rental
Applicants must secure a property in Malta by either purchasing or renting:
| Option | Malta | Gozo / Southern Region |
|---|---|---|
| Minimum Purchase Price | €275,000 | €220,000 - €250,000 |
| Minimum Annual Rent | €9,600 | €8,750 |
Note: The property must not be let or sub-let.
Health Insurance
Applicants must have valid health insurance covering them and their dependents across the EU. This insurance should be provided by a company licensed in Malta or a reputable international insurer.
Economic Self-Sufficiency
Applicants must demonstrate they can support themselves and their dependents without relying on Malta's social assistance.
Special Tax Status
Tax Rate on Foreign Income
Beneficiaries enjoy a reduced tax rate of just 15% on foreign income that is brought into Malta.
Exemption on Capital Gains
Capital gains from foreign sources are exempt from taxation. If you sell an asset outside Malta, you won't pay taxes on the profit, even if you bring that money into Malta.
Double Taxation Relief
Beneficiaries can take advantage of double taxation relief - if you're taxed on income in another country, you may not have to pay taxes on that same income in Malta.
| Tax Type | Rate |
|---|---|
| Tax on Foreign Income | 15% |
| Capital Gains on Foreign Assets | Exempt |
| Income Earned in Malta | 35% |
Living in Malta
Cost of Living
| Expense Type | Average Monthly Cost (€) |
|---|---|
| Rent (1-bedroom) | 800 |
| Utilities | 150 |
| Groceries | 300 |
| Transportation | 50 |
Cultural and Lifestyle Benefits
- lively Mediterranean lifestyle with numerous festivals and events
- Access to historical sites and beautiful landscapes
- Friendly and welcoming community that embraces diversity
Maintaining Your Status
Renewal Process
The permit typically renews every five years. Submit your application at least three months before your current permit expires.
Ongoing Obligations
- Reside in Malta for at least 183 days each year
- Maintain your property (cannot be let or sub-let)
- Keep health insurance active and compliant
- Pay minimum tax of €15,000 annually
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