Why choose Malta for investment or immigration purposes?
Malta has always been considered as a gem in the middle of the Mediterranean Sea. With its ever-growing economy, exposure to the digital market and increase in the standard of living, it’s to no one’s surprise that many people from all over the world are relocating to Malta. Given its strategic position, Malta has become the ideal hub for communication links and transport networks within Europe and elsewhere. It is also the ideal place to indulge into a diversity of social life, cultural events and most importantly for work opportunities.
With Malta becoming even more welcoming to foreign investment, with its many tax benefits and efficient company incorporation system, Lex Group provides consultancy on all matters dealing with immigration, ranging from assisting clients intending to relocate their financial and personal interest to Malta to other clients seeking citizenship, residency (ordinary or permanent) or even visa-free travel in the Schengen area.
Lex Group is an Accredited Agent for both Malta’s Individual Investor’s Program (i.e. the acquiring of Maltese Citizenship by investment) and Malta’s Residence and Visa Program (i.e. the acquiring of Maltese residency by investment). In this regard, the firm is authorised to assist applicants in obtaining either a Maltese passport (and consequential Citizenship) or a Maltese residence card. Click here for more information.
Lex Group is also an Authorised Registered Mandatory, meaning that it is authorized to assist clients in obtaining special and specific immigration status: Click here for more information.
On a daily basis our team at the Immigration Department assists clients to acquire visas, employment licenses, and residencies: Click here for more information.
The transfer of one’s residence from another jurisdiction to Malta is available for both EU/EEA and non-EU/EEA nationals. There is no minimum value property requirement for non-residents seeking to obtain ordinary residence in Malta, unless one opts to acquire property in which case an Acquisition of Immovable Permit (AIP) would be required. There are numerous schemes under which an individual can obtain a Maltese ordinary residence. These include:
- Employment: Single-work permits are granted to Third-Country Nationals, which permit authorizes them to reside and take up employment in Malta. Applications for a work/residence permit have to be endorsed by the employer concerned and the permit would cease to apply if the applicant would no longer remain in employment.
- Key employee Initiative: This program provides a fast track service to highly specialized Third Country nationals who intend to be employed in Malta.
- Self-employment: Third Country Nationals must adhere to the following criterion to become eligible for self-employment:
- An investment of at least €500,000.00 (consisting only of fixed assets) within the first 6 months following the obtainment of an employment license. A business plan needs to be submitted with the application; and
- A commitment to recruit at least 3 EEA / Swiss / Maltese nationals in the first 18 months of establishment; or
- The applicant must prove that he will be leading a project which has been formally approved by Malta Enterprise and formally notified by Malta Enterprise to Jobsplus.
- Study Purposes: Third country nationals who have been accepted by an establishment licensed by the National Commission for Higher Education to pursue a full-time course of study leading to a higher education qualification (MQF level 5) may apply for a residency permit in Malta. Notably, non-European nationals who require a visa to travel to a Schengen Area must be in possession of a visa issued for education purposes before coming to Malta and apply in person for such residency permit.
Long Term Residency
Long term residence status may be granted to individuals who have been living in Malta for five (5) consecutive years. This means that the applicant must not be absent from Malta for more than six consecutive months in any given year of the said 5 year period. Furthermore, the individual must not have been absent from Malta for more than a total of ten months throughout the five year period.
One may require a visa to enter Malta, either if one is visiting Malta as a tourist or even for work or relocation purposes. Our team at Lex Group has been assisting clients in the obtainment of visas for more than a decade. We have successfully assisted clients from all over the Globe.
The process has to be carried out while applicants are still abroad as Visas are not issued upon arrival in Malta. This requires liaison with Embassies, Consular Offices and other authorities.
Therefore if you intend to relocate to Malta as a high net worth individual, obtain a residency status or otherwise visit Malta as a student or tourist, you might need to be issued with a Visa first. We suggest that you consult with us before travelling to Malta, so that we can guide you accordingly.
As an Authorized Registered Mandatary, Lex Group can assist clients in the following:
- High Net Worth Individuals – EU/EEA/Swiss Nationals Rules
These rules apply to those EU, EEA and Swiss nationals who wish to relocate and reside in Malta while also taking advantage of the flat tax rate on foreign-sourced income remitted to Malta.
- The Global Residence Programme
Malta’s implementation of the Schengen Area Treaty offers yet another benefit for individuals holding a ‘Malta Global Residence Programme’ permit. This status recognises such holders as tax residents, meaning that same will benefit from double taxation treaties which Malta has ratified with other countries, including Australia and the USA. Moreover, beneficiaries will be charged at a tax rate of 15% on all income (less tax rebate as applicable) received in or remitted to Malta from foreign sources, subject to a minimum tax liability of €15,000.
In order to qualify for this program, the Main Applicant would be considered eligible under the following criteria:
- The Main Applicant must possess a qualifying Property, i.e. either leasing a property at a yearly rent of €9,600 in Malta or €8,750 in the South of Malta or Gozo or by purchasing an immovable property having a market value of €275,000 in Malta or €220,000 in Gozo or in the South of Malta. The property is to be held for a minimum of 5 years;
- Be in possession of a sickness insurance across the whole of EU and health care for the Main Applicant and his dependants;
- Main Applicant must be in receipt of a stable and regular resources of income covering themselves and their dependant without recourse to the social assistance system in Malta. The income is chargeable at a tax rate of 15% on all income (less tax rebate as applicable) received in or remitted to Malta from foreign sources, subject to a minimum tax liability of €15,000.
- The Residence Programme Rules
This programme can be availed of by EU, EEA or Swiss nationals, excluding Maltese nationals or citizens. This programme allows successful applicants to benefit from Malta’s attractive and tax effective jurisdiction.
- The United Nations Pensions Programme Rules
Holders of a United Nations Pension, or widow/er’s Pension, and who are not permanent or long term residents in Malta, are exempt from income tax, along with a reduced rate of 15% tax on any other income, saving any exceptions.
- The Malta Retirement Programme
The Malta Retirement Programme offers a special tax status, such as a flat rate of 15% on income from a foreign source, along with double tax relief for Maltese residents.