Options for Moving to Malta

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Retirement, working online from home, and working overseas open up several opportunities to improve one’s lifestyle, and many people are taking advantage of their new freedom. One goal for this new lifestyle is to relocate to a beautiful warm-weather country by the sea, and a prime destination is Malta, for the wealth of relocation options it offers.

Premier Consultancy is an immigration and tax consultancy firm that can help you achieve your dream of moving to Malta. We’ll explain the many residency options available, but we’ll start with why Malta is so popular.

Why Move to Malta?

Malta is an island nation in the Mediterranean Sea, just south of Sicily. Its low cost of living and favourable tax laws make it a popular place for high-net-worth individuals, retirees, and digital workers to settle and enjoy a rewarding life.

With over 115,000 non-Maltese nationals living there, Malta has become a cosmopolitan hub where English is widely spoken.

The country is also a member of the EU, with all the business, education, universal healthcare, and travel benefits membership provides.

Establishing residency in Malta also entitles you to work, study, or start a business in all the countries within the EU. For professionals in fields requiring travel, like technology, consulting, and sales, the convenience and mobility provided by living in Malta is just part of the appeal.

Malta Permanent Residency Programme (MPRP)

For those looking for a permanent place to settle and enjoy their lives, Malta’s MPRP offers residency for life. To qualify, investors must buy or rent real estate in Malta, pay government fees, and make donations. They also must have confirmed assets of:

€500,000, with at least €150,000 of liquidity
Or €650,000, with liquidity of at least €75,000.

If applicants want to rent real estate, they must lease for 5 years with a minimum rental cost of €14,000 per year. To qualify for the MPRP, applicants must also pay a total of €182,000 in fees and contributions.

Global Residence Programme (GRP)

Non-EU or EEA nationals with a stable income and a valid travel document who are not benefiting from other tax plans are invited to apply for residency under Malta’s GRP. This programme offers significant capital gains tax benefits. No capital gains taxes are charged on gains realised outside of Malta, and income is taxed at a flat rate of 15%. The requirements are:

Property must be purchased for a minimum of €220,000 in the north and central areas of Malta or €275,000 in Gozo or the south of Malta.
Property rental of at least €8,750 or €9,600, for no less than 12 months, depending on where the property is located in Malta.

Retirement Programme

Malta offers a retirement residency for wealthy retirees that requires:

Purchase property for a minimum of €220,000 or €275,000, depending on where the property is located in Malta.
Property rental of at least €8,750 or €9,600, for no less than 12 months, depending on where the property is located in Malta.
The applicant must receive a verifiable pension comprising at least 75% of their income.
A flat tax rate of 15% on foreign-sourced income.
Minimum annual tax of €7,500, plus €500 for each dependent
They must maintain a minimum stay of 90 days over 5 years
The beneficiary must not reside in any other country for more than 183 days.

Malta’s Ordinary Residence

Malta offers an ordinary residence programme to EU/EEA/Switzerland residents interested in relocating to the island nation. The requirements are:

Valid EU/EEA/Swiss passport
Bank statement in Malta with a minimum balance of €14,000 for at least 3 months before applying
Health insurance coverage in Malta
Property agreement, lease or purchase in Malta

Highly Qualified Persons (HQP) Programme

This programme was designed to recruit highly qualified and experienced professionals to Malta to help grow its economy, specifically in the gaming, financial services and aviation industries. The programme offers a flat tax rate of 15% on a minimum salary of €86,938 (as of 2021).

Qualifying Employment in Creativity & Innovation Programme

This programme was designed to attract individuals in the iGaming, engineering, technology and product development industries to address Malta’s labour shortages.

Workers in Maltese companies can benefit from a flat tax rate of 15% on employment income. Applicants must generally hold a relevant postgraduate degree in the sciences, engineering, design, creativity, art, or product development for at least three years.

Travelling to EU cities is quick and convenient from Malta

Key Employee Initiative (KEI)

The KEI applies to those regarded for a highly technical or managerial post in a company in Malta requiring specific skills and qualifications. The conditions are:

Gross salary of at least €45,000 per year
Proof of relevant qualifications
A declaration by the employer that the applicant has the credentials to perform the job duties assigned

Nomad Residency Permit

The Nomad Residency Permit allows foreign workers to retain their current employment in another country whilst legally residing in Malta and working remotely. The eligibility requirements include:

Monthly income of at least €2,700
Work for an employer registered overseas
Conduct business activities for an overseas registered company of which they are shareholders or partners
Offer freelance or consulting services to clients whose establishments are in a foreign country

Contact Premier Consultancy

Malta also offers citizenship through one of three avenues. You can get a Malta passport through:

• Citizenship by Investment

• Citizenship by Naturalisation

• Citizenship by Descent (family ties)

Contact Premier Consultancy if you’re interested in learning more about residency or citizenship options and want to enjoy a fresh, new lifestyle by living in Malta.

Premier Consultancy is a representative agent for residency and citizenship in Malta. We can also provide information and help with applications for other countries’ residency and citizenship programmes. Enjoy a new life and greater travel freedoms by applying to move to the EU country of Malta.

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