An Insight on How to Apply for Malta ResidencyPosted by Josephine Martin on July 11th, 2017 Made the decision to relocate but do not know how to apply for Malta residency? According to “Business Insider”, an American news website, Malta is one of the top countries for best quality of life for expats. Sunny weather throughout most of a calendar year that is highly attractive among Brits and Scandinavians, a natural start-up hub providing tax incentives for entrepreneurs and a melting pot of cultures are just the beginning why many consider taking up residence in Malta. Not only have most of the expats decided to relocate to Malta but also opt-ed in to purchase a property. One of the key benefits of becoming a Malta resident through one of these programmes is that it affords the approved applicant special tax status of 15% (certain conditions apply). Malta has two official languages – Maltese and English. Following the British curriculum, universities on the Maltese islands have fairly high standards for students, therefore the education system reflects strong multilingual skilled workforce. Ordinary residence EU/EEA/Swiss nationals have the option to enter, remain and reside in Malta on the basis of employment, self-employment, to study or as economic self-sufficient persons. Ordinary residence in Malta allows persons to stay physically in Malta for 183 days or more in any calendar year, however individuals have to register/apply for a residence permit in Malta. Non-EU/EEA/Swiss nationals may also apply, but their rights are not automatic and certain conditions apply especially with regards to employment/self-employment rights for so-called third-country nationals. Global Residence Programme The Global Residence Programme (GRP) is a programme designed to attract Third Country National Investors (ie non-Maltese/EEA/Swiss nationals) who are not long-term residents in Malta. Approved applicants are granted a residence permit in Malta and a special income tax rate of 15% on any income arising outside Malta which is received in Malta, subject to a minimum tax payment of €15,000 per annum. One of the most attractive highlights of the programme is that the approved applicant may add family members to the application. Malta Residence and Visa Programme The Malta Residence and Visa Programme (MRVP) is a residence programme whereby Third Country Nationals (ie non-Maltese/EEA/Swiss nationals) can take up residency in Malta. Some of the key highlights of the MRVP are:
Malta Citizenship by Investment Programme (MIIP) Established in 2014, the Malta Citizenship by Investment Programme also known as the Malta Individual Investor Programme grants high net worth individuals and their families Maltese citizenship through a certificate of naturalization. The MIIP is the first EU approved citizenship by investment programme capped at 1800 persons who contribute to the economic and social development of Malta. Some of the key factors include:
Eligibility conditions Certain conditions apply depending on your current residency status. One of the main conditions is that the applicant must be at least eighteen years of age. The applicant should also be in possession of a valid travel document. An extensive due diligence process if carried out to ensure everything is as it should be. Health and Sickness insurance must be presented as well. Immovable property Apart from the conditions stipulated above, the applicant, depending on the programme of choice, has to hold a property for a minimum period of five years. The rented or purchased real estate property must be in Malta. Multiple citizenships A person with dual nationality is a citizen of two countries simultaneously. Dual citizenship is beneficial to those seeking mobility to travel as well as providing their future generations to be part of the globalized world. Dual citizenship is allowed only in some countries after meeting certain conditions. Let us discuss some of the advantages associated with this kind of nationality. • Voting rights The individual enjoys the right to vote in both the countries. Depending on the current law, an individual can run for office in both the nations. They can take up employment in either country and do not need to apply for a work permit. They enjoy the facility of attending educational institutes at subsidized citizen tuition rates. • Dual passports You can carry two passports with you. Not only will you be saved from the trouble of having to worry about the expiration date of your visa but it will help you do business more easier. • Ownership of property You may own a property in one country and retire comfortably in a property in a different country. Talk to a legal expert Taking up residence or applying for a dual citizenship in any of the programmes above is relatively straightforward if you go through legal experts. A recommendation is to double check if the person you talk to is an Authorized Mandatory who may therefore advise you properly. About The Author: The writer is an expert and familiar with Malta Citizenship by Investment Programme and she has a very good practice in dual citizenship for Malta residency. Source URL: http://articles.org/an-insight-on-how-to-apply-for-malta-residency/
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