- PRACTICE AREAS
Citizenship, Immigration & Relocation
With Malta becoming even more welcoming to foreign investment, with its many tax benefits and efficient company incorporation system, Vincent Micallef and Associates provides legal consultancy on all matters dealing with Immigration Law, ranging from assisting clients intending to relocate their financial and personal interest to Malta to other clients seeking residency, asylum or even visa-free travel in the Schengen area.
We also provide legal consultancy and represent clients seeking to obtain temporary, ordinary or permanent residence in Malta.
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 rate of tax 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.
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.
Malta Residency and Visa Programme
Launched in Malta on 28 August 2015, the Malta Residency and Visa Programme, regulated under the Immigration Act and run by Identity Malta, provides international investors and their dependents, who are third-country nationals (i.e. non EU, EEA or Swiss Nationals), with residency rights.
The issuing of a certificate with regards to this highly beneficial programme is subject to the following qualifications and general requirements:
1. The applicant must be at least 18 years of age;
2. The applicant and his dependents must have a clean criminal record and must pass the ‘due diligence’ and the ‘fit and proper’ test;
3. The applicant must commit himself to prove a title to a qualifying property in Malta, to be held for a minimum period of five years from the date of issue of the certificate, which may be:
- A qualifying owned property purchased at a consideration of not less than €270,000, which has to be situated in Gozo or in the South of Malta, or otherwise any other property situated elsewhere in Malta for not less than €320,000;
- A qualifying rented property, taken on lease for a rent of not less than €10,000 per annum for property situated in Gozo or in the South of Malta, or otherwise for property situated elsewhere in Malta for not less than €12,000 per annum.
4. The applicant must commit himself to invest in a qualifying investment of not less than €250,000 to be held for a period of five years from the date of issue of the certificate;
5. The applicant must commit himself to pay a contribution of €30,000 – €5,500 of which are to be paid as a non-refundable administrative fee upon application;
6. The applicant must produce an affidavit declaring that he has either an annual income of not less than €100,000 arising outside Malta, or has a capital of not less than €500,000 from the date of application onwards;
7. The applicant’s application must not be deemed as being against the Public Interest;
8. The applicant must not be under any of the following schemes or regulations:
- Residents Scheme Regulations;
- High Net Worth Individuals – EU/EEA/Swiss Nationals Rules;
- Malta Retirement Programme Rules;
- Residence Programme Rules;
- Qualifying Employment in Innovation and Creativity Rules;
- Highly Qualified Person Rules.
Additional information about the Malta Individual Investor Programme can be obtained from the below link: