Expertise, Immigration Law, Global Residence Programme, Michael Kyprianou & Co LLC

Principal Requirements

Within twelve (12) months of acquiring permanent status, applicant must prove that s/he has:a) Either purchased property for over €275,000 (or €220,000 if the property is in Gozo or in specially designated areas in the south of Malta)OR b) Rented property for over €9,600 p.a. in Malta (or €8,750 p.a. if the property is in Gozo in specially designated areas in the south of Malta)
Demonstrate a minimum tax liability of €15,000
Obtain medical insurance coverage for all risks in Malta as well as the rest of the EU
Present proof of independent and sufficient means
Must not reside in any other jurisdiction for a total of 183 days of over within a full calendar year

Benefits of the Programme

Acquisition of Maltese permanent residence status, as well as permanent residence status in Europe
Reduced tax rates on:
- Any income earned abroad and remitted to Malta at a flat rate of 15% (minimum €15,000 p.a)
- Income deriving from Malta (35%)
- Foreign income not remitted to Malta (0%)
The minimum tax per family is indicated at €15,000 p.a and will be no additional tax for your spouse, children or dependants.
A Schengen Visa that provides freedom of movements within the other participating 25 European countries.
The Global Permanent Residence Programme may be inherited
Spouses and dependants include:
Spouse or partner of a stable relationship
Children under the age of 18
Children under the age of 25 that are still financially dependent on the main applicant
Ascendants and other relatives shown to be financially dependent on the main applicant
Any employees also considered dependent and ‘bona fide’ members of the household (for the first two years)

Other Advantages

Global Permanent Residence Programme holders are not subject to inheritance tax, and are able to make best use of the benefits concerned with the Double Tax Treaty relief scheme as well as being awarded a Tax Residence Certificate whenever necessary.