On 1 June 2013 the Maltese government launched the Global Residence Programme, a set of rules under which persons purchasing high-value property and paying taxes in Malta will be eligible to be granted a special tax status in Malta.

The programme aims to foster growth in the high-end property sector and provide added revenues in taxation.

Target market

The Global Residence Programme targets non-EU, non-EEA and non-Swiss residents.

Some benefits of the programme include:

• No minimum presence is required
• Any foreign sourced income remitted by the applicant will be taxed at a special fixed tax rate of 15%
• All other foreign sourced income which is not remitted to Malta will not be taxed in Malta
• Fast process – takes around 3 months to conclude
• Work permit entitlement
• Ability to apply for a residence permit in Malta – this will entitle family to not only reside in Malta but to also travel to Schengen area

Should you be interested in applying for the Global Residence Programme or would like some further information, please do not hesitate to contact us. 

Want to know more? Get in Touch with BDO's Tax team today.