malta residency programThe following conditions issued by the Inland Revenue are taken into account when considering who will take part in the high net worth individuals residence program in Malta:
– The candidate must acquire ownership in a property in Malta worth a minimum of 400 000 euros or rent a property for a minimum yearly amount of 20 000 euros.

– The candidate and his/her family members has to move in to the property and take up residency. Officially no other person can live in that property.

– The candidate for the Malta HNWI residence permit scheme must have a continuous secure income enough to support the candidate and the family members.

– The candidate must have insurance coverage for the EU.

– The candidate can not migrate to Malta.

– The candidate for the Malta HNWI scheme must fulfill all the necessary requirements regarding personal aptitude. (fit and proper person)

The documents needed to acquire a high net worth individual status can only be handed in by an agent holding a specific permit issued by the inland revenue.

There is no wealth neither property tax in Malta. Although there is a custom duty in case the ownership of a property or a bond changes. In this case it is worthwhile to look up if there is any withholding tax treaty between the country of origin and Malta.
Malta has altogether 66 withholding tax treaties with Uruguay and Mexico being the most recent.

How can non EU/EFTA and Swiss residents take advantage of the Malta HNWI residence program?

Basically anyone can take part in this residency program who meets the conditions. But citizens coming from other than EU/EFTA/Switzerland these conditions are a little higher. The applicant must pay a minimum of 25 000 euros of tax each year and 5 000 euros per family member each year.

Related articles:

The new malta residence programme 2013.