Are you interested in making Malta your second home? The island attracts many foreign individuals with its relaxed way of living, affordable lifestyle, aesthetic elements, taxation benefits, and lots more. Amazingly, people heeding to apply for the Malta Residence Programme include those freelance professionals who work remotely as well as those retirees from Northern Europe, every year.
While Malta is the smallest-EU state, immigrants fall in love with a unique combination of its architectural gems, natural beauty, and the Mediterranean joie de vivre that permeate life in the country. The thriving industries and leisure activities on the island are other attractions to foreign investors and individuals.
Malta is also known for some of the most attractive taxation policies within the EU destinations. Instead of benefit from a low corporate tax rate by using the Malta imputation system, choose the Malta Residence Program. It means you do not have for a refund and can enjoy greater liquidity all round the year.
Malta Residency Programme
The Malta Residency Programme or TRP offers an incentive for those who want to come and live in Malta. Many people view this option as a great option because of tax benefits. Depending on your country of origin, there are two types of residency types – the Permanent Residence or Ordinary Residence.
Ordinary Residence
This kind of residency program applies to those who come to the island from the EU. The tax you pay will be from 0 to 35 percent of your income and minus a tax credit. This percentage will depend on how much you earn and your marital status.
Permanent Residence
Unlike Ordinary Residency, permanent residency is for everyone, regardless of their country. It means people from EU and non-EU can apply for this scheme. However, it is always wise to consult a reputable lawyer to find out which programme is suitable for your particular case,