Malta, the small Mediterranean country with the very agreeable climate, offers excellent possibilities for economic citizenship for interested parties from both within and outside the EU. There are two main factors which the Maltese authorities generally take into consideration when judging applications from outside the EU: do the applicant and his family have a place and the means to live in Malta? For the proof of residence, it is necessary to rent a property whose annual rent is at least 9 600 EUR per year (8 750 EUR in Gozo). “Suitable income” assumes an annual income of at least 100 000 EUR, which will be subject to 15% tax in Malta. This means that a minimum of 15 000 EUR per year must actually be paid to the taxman in Malta.
However, provided that the individual concerned qualifies for non-domiciled status, as is so in the majority of cases, then any income which accrues outside Malta and is not brought into Malta enjoys exemption from tax. Naturally, participants in the programme must also have suitable European Union medical insurance, which again they must be able to prove to the authorities.
Malta is part of the Schengen Area, so individuals from third countries but in possession of Maltese residency permits and the associated paperwork enjoy freedom of movement within the Schengen Area, and can also apply for visas for other countries through their consulates in Malta.
The personal income tax rate of 15% and the benefits arising from non-domiciled status also apply to individuals from the EU wishing to resettle in Malta. In order to attain tax residence status, it is necessary to spend at least 183 days a year in the islands, however, the border guards do not stamp the passports of EU citizens when they arrive in Malta.