Malta offers a number of residency options for third country nationals who are retired. These include: Malta Permanent Residency Programme (MPRP); Global Residence Programme (GRP); Citizenship for Exceptional Services by Direct Investment Each of these offer differing benefits, so choosing the best residency option depends on the goals of the investor. The Malta Permanent Residence Program offers indefinite right to reside and settle in Malta and requires less investment than the Citizenship for Exceptional Services by Direct Investment. The investment requirements for the MPRP are: pay a non-refundable administrative fee to the Maltese Government of €40,000, purchase residential property for a minimum of €300,000 or rent annually for a minimum of €10,000, which must be held for a minimum of five years. Make a financial contribution of €58,000 in the case of renting a property or €28,000 in the case of purchasing property. This contribution includes the Spouse, minor child and adult child. Parents or grandparents of the applicant and/or spouse need to each make a financial contribution of €7,500. The fourth requirement is to donate €2,000 to a local based charity. The Global Residence Programme (GRP) is a tax driven programme that offers residence in Malta but needs to be applied for on an annual basis. The investment requirements are: pay an annual minimum tax of €15,000, pay an application fee of €6,000, purchase or rent property for €220,000 or €8,750 respectively and possess global health insurance coverage. Investors with regular income, including pension income, may benefit from a flat tax rate of 15% on foreign source income remitted to Malta.
