|Permanent Residency in Malta|
|Apart from the hospitality and friendliness of the Maltese ,Malta boosts a number of other outstanding features that render it an ideal holiday,business and retirement destination. Malta offers attractive residency conditions, such as no property taxes, lower stamp duty than most other European countries; tax rate 15 percent on remitted income only for foreign residents and double taxation agreement with a number of countries.|
Malta's entry in the European Union on the 1st of May 2004 provides further benefits.
Conditions for eligibility:
Requirements/ supporting documents
Application form enclosed in attachment.
ProcedureImmediately an application is approved , the applicant shall pay Euro 4192 tax –by not later than 30 days from such approval. The amount of tax will be held on account and credited for the first year of assessment for which a tax return is required.
A Residence certificate shall be issued by the Commissioner of Inland Revenue, within 30 days from such payment.
Once in possession of a certificate the holder:
shall be required to take up residence by not later than one year from the issue date of the Residency certificate.
must either purchase immovable property valued at not less than 116 500 Euro or
Euro 69900 in case of an apartment ) or lease/rent immovable property for not less than 4150 Euro per annum within 12 months of taking up residence in Malta
Procedure – up till 3 months.