Relocating to Malta
Trust us – we don’t blame you for wanting to relocate to these magnificent islands. You may do so for a myriad of reasons – be it retiring in a warm country, for tax purposes, better lifestyle and standard of living as well as career opportunities, among others.
Whatever your reasons, we are fully aware that these may vary. At Oyster Real Estate we are able to offer ancillary services to help make your transition as smooth as possible and collaborate to engage experts in the field who will help make this process plain-sailing for you and your entire family.
Malta’s attractive tax regime is resulting in an increasing number of individuals seeking to acquire residence on the island. Malta has thus become the ideal place to take up residence due to the afore-mentioned tax reasons combined with lifestyle, safety, weather, strategic location and accessibility, as well as language. Collaborating with lawyers and tax advisors, we provide our clients with the right advice vis-à-vis taking up residence in Malta and the property purchase or rental requirements that come along with it.
In collaboration with our associated law firm – one of Malta’s leading firms, Oyster Real Estate can assist clients with the following relocation and residence programmes.
Highly Qualified Persons Rules (HQP)
The Highly Qualified Persons Rules (HQP) is a programme that allows employees engaged by licensed / recognised operators in the financial services, remote gaming and aviation sectors to benefit from a flat rate of 15% tax on employment income derived in respect of work or duties carried out in Malta (or in respect of any period spent outside Malta in connection with such work or duties). The applicant must directly or indirectly acquire real estate rights over immovable property situated in Malta or must hold a beneficial interest directly or indirectly consisting in, inter alia, of real rights over immovable property situated in Malta.
Global Residence Programme (GRP)
Those qualified to benefit from the Global Residence Programme (GRP) will be issued with a residence permit entitling them to reside in Malta and travel freely within the Schengen area without the need of applying for additional visas. They will also benefit from a reduced fixed tax rate of 15% on all foreign sourced income that is remitted to Malta. One must of course take the eligibility criteria into consideration. An individual shall therefore be entitled to apply for special tax status under the programme. Property conditions must also be adhered to as follows:
The main applicant purchase an immovable property in Malta for a minimum value of € 275,000 (or in Gozo or the south of Malta for a value of not less than €220,000); or
Lease an immovable property in Malta for not less than € 9,600 per annum, (or in Gozo or the south of Malta for an annual rent of not less than € 8750). The qualifying property must be retained and not shared with any persons not listed as a dependent on the certificate.
Individual Investors Programme (IIP)
The Individual Investors Programme (IIP) was launched by the Maltese government in 2014 with the intent and aim to attract quality investors to Malta, create new opportunities and thus a positive economic contribution to the country. All beneficiaries under the programme are granted Maltese citizenship and issued with a Maltese passport.
A holder of a Maltese passport is not only entitled to study, work and reside anywhere within the European Union, but the passport also provides visa free travel to over 165 countries. Among the list of eligibility criteria is the acquisition or leasing of a Qualifying Immovable Property in Malta.
Malta Residence & Visa Programme (MRVP)
Beneficiaries under the Malta Residence and Visa Programme (MRVP) will be issued with a Maltese residence card valid for an initial period of five years and renewable every five years thereafter.
A residence card will be issued – one which will entitle the holder to reside, settle and stay in Malta indefinitely, as well as to travel within the Schengen area without the need for applying for additional visas. In this case, applicants must be third country nationals (TCN) and not citizens of Malta, the EU, EEA or Switzerland. Among the list of eligibility criteria is the acquisition or leasing of a Qualifying Immovable Property in Malta.
Property Criteria – Acquisition & Rental
The below is a quick highlight of property related requirements for Malta’s key programmes – be it property acquisition or letting.
|Programme||Rental Requirement||Purchase Requirement|
|Highly Qualified Persons Rules||req||req|
|Global Residence Programme||€9,600 per year or €10,000 if in the South of Gozo||Invest in property worth €275,000 or €220,000 if in South or Gozo|
|Individual Investors Programme||€16,000 per year||Invest in property worth €350,000|
|Malta Residence & Visa Programme||€12,000 per year or €10,000 if in the South of Gozo||Invest in property worth €320,000 or €270,000 if in the South or Gozo|
|Ordinary Residence||No minimum property threshold||No minimum property threshold|
For more information about eligibility criteria as well as property acquisition and rental requirements, contact us and we will happily provide you with more information.