Malta proves itself as the hub for businesses to progress with stability. It lies between North Africa and the South of Sicily and attracts business setters from all across the world. It has a consistent regulatory, skilled workplace and attractive surroundings for people who want to open a company or gain tax Malta residency on the island.
Becoming a Maltese resident can be valuable for you and your family in several ways. But how can you get Maltese residency? Let’s look at some ways to obtain residency in Malta and enjoy its benefits.
Malta Ordinary Residence Scheme
This Maltese residency scheme allows nationals of EU/EEA and Switzerland, as well as Non-EU nationals, to apply for Malta Ordinary Residence Scheme. To do so, they have to provide evidence of financially stable to support their family and themselves while living in Malta.
Long-Term Residency Scheme
Long-term residency is the right option for non-EU nationals who want to acquire legal residency in Malta for five consecutive years. The applicant needs to make sure that they do not leave the island for more than six months in those five years.
The scheme also allows the foreign partners of European Union nationals may apply for Maltese residency if they have a stable source of income and a two-year relationship with the EU nationals.
Malta Residence Program
Also known as RPR, the Malta Residence Program aims to cater to the needs of high-net-worth entrepreneurs and their families. National of EEA, EU, or Swiss country who are not a Maltese resident will find Malta Residence Program the right option for them. It also allows you to benefit from taxation under this program and enhance your tax position further.
Moreover, Malta RPR makes your income tax on the source of earning and remittance basis. It means you will have to pay income tax at the rate of 15% for the income sourced in or outside of Malta.