The provisions of the Schengen Convention which have been duly integrated in the EU framework lay down that a valid residence permit from a Schengen State, together with a travel document, can substitute for a visa. In the light of this provision therefore, a third-country national presenting a passport and a valid residence permit issued by a Schengen Member State can be allowed to enter another Schengen Member State without requiring a visa.
The Global Residence Programme (GRP) was launched in June 2013. The key factors of the GRP are the following:
- GRP is addressed to non-EU, non-EEA and non-Swiss nationals only.
- The flat rate of tax on income remitted to Malta is set at 15%. This is subject to a single minimum tax payment of €15,000 for the applicant and all dependents.
- The definition of dependents includes the wife and children (the latter whether natural, adopted or in care, being limited to up to 25 years of age. This definition of dependents shall also include dependent brothers, sisters and direct relatives in an ascending line provided that the Director of Inland Revenue is satisfied that these are dependents of the beneficiary of the Programme. Employees are also provided for i.e. carers/servants and other persons that may have been in the employ of the applicant for the preceding two years.
- GRP Property Purchase requirements have been set at:
- purchase price of immovable in Malta €275,000
- purchase price of property in Gozo and the South of Malta €220,000
- GRP minimum rental price has been set at:
- Annual minimum rental of property in Malta €9,600
- Annual minimum rental of property in Gozo and the South of Malta €8,750
- GRP requires the use of an Authorised Registered Mandatory in Malta to submit the application on behalf of the client.
- GRP requires monitoring to ensure applicant and dependents are covered by an all-risks medical insurance in Malta.
- The immovable property which the applicant has declared as his residence in Malta cannot be used by any other person other than dependents or those in his employ.
- The applicant may not rent out the property that he is declaring to be his residence in the application for whatever period and in whichever location.
- The applicant may not be resident for more than 183 days in any other single jurisdiction.
The Malta Residence and Visa Regulations Programme (MRVP) was launched in 2015. The Certificate of Residence will be issued to any applicants and their dependants and must satisfy the following requisites and conditions:-
- Applicant must be at least 18 years of age, and
- Must be in receipt of stable and regular resources sufficient to maintain himself and his dependants, and
- Must be in possession of a valid travel document
- Payment of a contribution of â‚¬30,000 of which â‚¬5,500 is non-refundable and payable on submission of an application; the remaining balance to be paid once the application is approved in principle; and
- Make an investment (referred to as the qualifying investment) in Malta of â‚¬250,000 which must be held for at least five (5) years; and
- Purchase a property of at least â‚¬320,000 (â‚¬270,000 if property is situated in South of Malta or in Gozo) which must be held for at least five (5) years ; or
- Rent a property for a minimum rental of â‚¬12,000 (â‚¬10,000 if property is situated in Gozo or South of Malta) which must be held for at least five (5) years
- Must be in possession of health insurance covering himself and his dependants in respect of all risks across the E.U.
- Must declare that he either has annual foreign sourced income ofÂ â‚¬100,000 or possesses capital of not less than â‚¬500,000
PCM Legal provides services in the following areas:
- Application for registration in the Global Residence Programme
- Logistical and support services on matters associated with GRP
- VISA and Immigration Law matters
- Citizenship requests.