Relocating to Malta

Sun, Property and Residence

16 Feb , 2018  

Malta is increasingly being regarded as an optimal destination, not only by tourists and travellers but increasingly by High Net Worth Individuals (HNWI) and retirees looking for a good quality of life. Numerous individuals are attracted to the tiny archipelago and relocate to Malta every year. Primarily, Malta is the perfect location to expand business, to retire with peace of mind, and relocate with the family in the smoothest way possible. After all, the islands have plenty to offer- a typically Mediterranean climate, great history, culture, a prosperous economy and a multilingual population.

Along with an abundance of lifestyle benefits, Malta provides for a number of programmes whereby individuals may obtain tax residency in Malta or alternatively Maltese citizenship. All the residence and citizenship programmes offered have one element in common, that is, the purchase or rental of an immovable property situated in the islands of Malta or Gozo. The below are the property requirements in a nutshell:

Programme

Purchase

Rental

Individual Investor Programme Purchase of property worth at least €350,000 Rental of property worth at least €16,000 per annum
Malta Residence and Visa Programme Purchase of property worth at least €320,000 (in Malta) or €270,000 (in the South of Malta or Gozo) Rental of property worth at least €12,000 (in Malta) or €10,000 (in the South of Malta or Gozo) per annum
Global Residence Programme Purchase of property worth at least €275,000 (in Malta) or €220,000 (in the South of Malta or Gozo) Rental of property worth at least €9,600 (in Malta) or €8,750 (in the South of Malta or Gozo) per annum
The Residence Programme Purchase of property worth at least  €275,000 (in Malta) or €220,000 (in the South of Malta or Gozo) Rental of property worth at least €9,600 (in Malta) or €8,750 (in the South of Malta or Gozo) per annum
Highly Qualified Persons Programme No minimum threshold (TCNs are prohibited from purchasing property) No minimum threshold. Lease should not be less than one year.
Ordinary Residence No minimum threshold No minimum threshold. Lease should not be less than 6 months.

 

Sliema, on the east coast of Malta, has become an increasingly popular residence since it features several attractive properties, from new developments to townhouses, along with seafront views and a dynamic lifestyle, with plenty to offer for families.

It is important to note that on the acquisition of immovable property in Malta or Gozo, 5% stamp duty on the value of the immovable property is payable by the buyer on the signing of the purchase deed, 1% of which is payable on the signing of the promise of sale agreement. Once the immovable property is purchased, no further property taxes are levied.

For more information regarding residency programmes or assistance in finding your ideal real estate purchase or rental, Contact Us Malta Sotheby’s International Realty +356 9910 8070, or +356 2010 8070, email info@sir.com.mt  Find us on the web at www.maltasir.com


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