MAIN FEATURES

The The Residence Programme (TRP) is for both EU nationals, excluding Maltese nationals, and Non-EU nationals. TRP offers benefits which include:

  • The Applicant is eligible to a reduced rate of tax of 15% on any foreign income remitted to Malta, with the possibility of claiming double taxation relief, subject to a minimum annual tax of € 15,000;
  • There is no tax on any income generated outside Malta which is not remitted to Malta;
  • Foreign capital gains are not subject to tax in Malta, even where such capital gains are remitted to Malta; and
  • Any income arising in Malta is charged at a flat rate of tax of 35%. This may include among other things, bank interest received from a local source, salary received from a local company or dividends received from a company registered in Malta.

ELIGIBILITY AND CRITERIA

In order to be eligible for TRP, the Applicant must:

  • Be an EU, EEA (including Norway, Iceland and Liechtenstein) or Swiss national;
  • Pay an administrative fee of € 6,000 (€ 5,500 subject to the fulfilment of certain criteria related to the acquisition of a property);
  • Acquire an immovable property for a minimum value of € 220,000 in the South of Malta or Gozo or € 275,000 in the rest of Malta OR lease an immovable property for a minimum annual rent of € 8,750 in the South of Malta or Gozo or € 9,600 in the rest of Malta;
  • Provide proof of stable and regular resources (to sufficiently maintain the applicant and dependants, where applicable);
  • Be considered to be fit and proper;
  • Possess a valid health insurance;
  • Be able to communicate in English or Maltese; and
  • Be in possession of a valid travel document.

PROVISIONAL TAX

In the first year of obtaining the special tax status under the TRP, the Applicant shall not be subject to Provisional Tax (“PT”) payments however the full minimum tax of € 15,000 is required to be paid in full before the special tax status is confirmed.

From the second year of obtaining the special tax status under the TRP, the Applicant shall be subject to provisional tax payments in accordance with the Payment of Provisional Tax (“P.T.”) Rules.

APPLICATION PROCESS

An Authorised Registered Mandatary (“ARM”) needs to be appointed for the purposes of the application for the TRP. The Applicant may engage and authorise FJVA in respect of all application matters as an ARM. FJVA’s letter of engagement to be signed by Applicant;

FJVA collates due diligence documents and assists with the completion of the necessary application forms including the detailed questionnaire and related documents;

Applicant to acquire OR  lease an  immovable property;

FJVA submits the necessary forms and supporting documentation, together with the settlement of the non-refundable administrative fee of € 6,000 (€ 5,500 subject to the fulfilment of certain criteria) with the CTC;

CTC will issue an acknowledgement letter to ARM for submission of the documentation and initiate the due diligence and verification process;

Applicant is invited to Malta for a face-to-face meeting with CTC, after which a Letter of Intent is issued by CTC which will be valid for 12-months from date of issue;

Notice of primary residence submitted by Applicant in original with the Authorities; and

Confirmation letter is issued by CTC.

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    We've been collaborating with Francis J. Vassallo & Associates Ltd. since 2007. We've always relied on them to provide us with sound and knowledgeable advice as well as with high-quality, customised services to meet our specific needs. They're definitely one of our most valuable business partners and will remain as such for the years to come.

    Mr. Ali NesrWebcor Group, Founder & Chairman

    Throughout the 17 years of cooperation, we have seen how Francis J. Vassallo & Associates Ltd. not only provide an excellent service but they also bring in business insight, protect the business as their own, all in a friendly, professional and committed manner.

    Mr. Omar KoleilatCrestyl Group, CEO

    Francis J. Vassallo & Associates Ltd. has been our preferred partner for business in Malta since 2019. The company offers the highest levels of expertise and competence through their team of professionals. They also have a deep understanding of the jurisdictions and a vast knowledge of the effort that is involved in company structures. Their client experience is also something to praise - not only are their professionals extremely respectful, cordial, and responsive, but they also have the ability to look at matters through the clients' lens, providing tailor-made and customised services and solutions.

    Mr. Pedro OlmoXP Private, Partner

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