The MRVP does not in itself offer any tax advantages or only any tax consequences. Tax treatment depends on one’s residence and domicile. If a successful MRVP applicant decides to relocate to Malta, he would be taxable on income arising in Malta and foreign-source income remitted to Malta, charged at progressive rates up to 35%, subject to a minimum tax of 5,000 euro. The minimum tax is not chargeable where the foreign-source income of the individual (or the individual and his/her spouse in the case of a married couple) does not exceed 35,000 euros. In such case, the tax would be charged at the ordinary rates. An alternative program with a tax incentive for higher income earners is the Global Residence Program, under which a successful applicant is charged to tax on foreign-source income remitted to Malta at a flat rate of 15%, subject to a minimum tax of 15,000 euro. The GRP also grants a Malta resident permit and visa-free travel within the Schengen Zone. Applicants under the GRP are required not to spend more than 183 days per year in any country other than Malta, without an actual minimum stay requirement in Malta.
