Malta is an archipelago in the central Mediterranean between Sicily and the North African coast. It's a nation known for historic sites related to a succession of rulers including the Romans, Moors, Knights of Saint John, French and British. It has numerous fortresses, megalithic temples and the al Saflieni Hypogeum, a subterranean complex of halls and burial chambers dating to circa 4000 B.C.
USD 12.54 Billion (2017)
The Malta Residency by Investment Programme is a Malta residency route open to Non EU nationals and their registered dependents who would be granted a Maltese residence permit allowing its beneficiaries a permit which will allow free travel within the Schengen Area. Such residence permit will also grant its beneficiaries the right to reside, settle and stay indefinitely in Malta. The Republic of Malta enjoys a stable political climate and a bi-partisan political scene that is largely convergent on issues of national and economic importance. Malta has weathered the financial crises well and shared the limelight with Germany as the only two states maintaining economic growth in the Euro Zone. Malta's banks have been ranked amongst the top 5 soundest banks in the world.
Legal Basis for Malta Residency by Investment
Malta Residency by Investment may be granted under an amendment passed in August 2015 to the Maltese Immigration Act, Chapter 217 of the Laws of Malta. These amendments provided the framework for the enactment of L.N. 288 of 2015. The 'Malta Residence and Visa Programme Regulations' provide for affluent persons of impeccable standing and repute to receive Maltese residency on the basis of a contribution to and investment in Malta.
Benefits of Malta Residency by Investment
Grounds for Refusal of Malta Residency by Investment
An application for Malta Residency by Investment shall be refused if the applicant:
Grounds for Revocation of Malta Residency by Investment
A beneficiary under the Malta Residency by Investment Programme shall cease to benefit from the certificate issued
under the Regulations if:
Taxation of New Residents
The basis for taxation under the Maltese tax system are based on domicile and residence. Residence for Malta tax purposes is established by demonstrating an intention to reside in Malta indefinitely. It may also be definitely established on the basis of a physical presence in Malta of at least 183 days.
Maltese tax residents who are not domiciled in Malta are taxable on a remittance basis. Non-domiciled residents of Malta are taxable on a remittance basis only on foreign-source income (not foreign-source capital) remitted to Malta and only to the extent remitted. Income and capital gains arising in Malta are always subject to tax in Malta at the applicable personal income tax rates.
Capital gains arising outside Malta fall outside the scope of Maltese tax whether remitted to Malta or otherwise. Capital and savings remitted to Malta also fall outside the scope of Malta tax.
Other tax benefits include:
Eligibility for Malta Residency by Investment
The salient conditions of the Malta Residency by Investment Programme under the Malta Residence & Visa Regulations are outlined below.
The main applicant:
Cyprus, officially the Republic of Cyprus, is an island country in the Eastern Mediterranean and the third largest and third most populous island in the Mediterranean, located south of Turkey, west of Syria and Lebanon, northwest of Israel, north of Egypt, and southeast of Greece.
USD 21.65 Billion (2017)
Being at geopolitical crossroads, Cyprus enjoys a European political outlook and the lifestyle of a Mediterranean island which along with its favourable tax regime makes the country one of the top relocation destinations in the world (2014, Knight & Frank lifestyle review).Cyprus has been a member of the European Union since 2004, and a Eurozone Member since 2008. Besides the inherent benefits of EU Membership, the country enjoys high quality healthcare and education, as well as, a stable political climate. Permanent Residency under this programme grants the right to travel within the EU and it is considered to be the first step towards gaining Cyprus Citizenship. In this respect, the Cypriot authorities have recently simplified the procedure for issuing Permanent Residency Permits to Non-EU nationals.
In pursuance of the provisions of Regulation 6 (2) of the Aliens and Immigration Regulations, Cyprus grants Non-EU nationals the right to permanently reside in Cyprus with no renewal requirements. The process is based on a set eligibility criteria ensuring that the Permanent Residency status is only granted to reputable individuals.