Malta is now the top objective for business immigration as it has a well-favoured tax system, strategic location, and excellent lifestyle. The following are some major issues to contemplate if you’re interested in business immigration to this country:
These initiatives represent a residence card for non-EU citizens who meet the established conditions, like investment requirements.
Investment options
To obtain a residence permit, individuals are expected to make a major contribution to Malta, which ideally motivates them to stay for a long period.
Malta Individual Investor Programme (MIIP)
This is a passport for investment which is meant for individuals and their families to get Maltese citizenship in return for building up the Maltese government. Plus fulfilling other requirements. On the one side, the MIIP only has a limited number of positions available and also has rigorous eligibility criteria.
Business Environment
The country has a very dynamic business environment in which sectors such as financial services, gaming, technology and maritime industries prosper. On top of it the country takes benefit from its EU membership, which provides the opportunity to enter into the European market.
Legal assistance
As well as being complex, immigration and investment law in Malta is a specialization for the professionals who are in this field. Therefore, it is advisable to seek legal counsel from experts in Maltese immigration and business law.
What you need to know about business migration to Malta
It includes:
Visas and residence permit
It provides several visa and residence permit options for individuals who are looking to relocate their business. Invest or simply reside in Malta which includes: the Global Residence Programme, Malta Residence and Visa Programme and Highly Qualified Person rules respectively.
The global residence programme
The Global Residence Programme is aimed at privileged non-EU citizens who can invest in or rent Maltese real estate qualifying against approved standards. This position results in a low tax status and free movement within the Schengen area.
The Maltese Residence and Visa Programme is accomplished through the presentation of Malta government bonds and the holding of global health insurance coverage. This results in the Maltese community after 5 years of their residence in the respective country.
HQP rules, however, offer certain non-EU highly qualified workers, entrepreneurs, and investors visas through temporary residence, provided that they meet the minimum wage threshold or investment/job creation requirements. Certain categories may, after some time, become eligible for permanent residence in these places.
Low-income tax rates
Malta is characterized by lower income tax and corporate tax rates, no taxation on foreign-source capital gains or inheritance/este duty, and a multitude of double taxation treaties signed with other countries.
Good infrastructure
It has attractive features, which make it a good choice for investors such as an island country in the south of Europe. With a relatively small population but offers a good lifestyle, climate, infrastructure and accessibility. The English language is generally the official language that many countries use.
Cost of business migration
The cost of migration to Malta can depend on a few factors, such as, which type of residence or citizenship program you chose. If you have any special requirements and any other costs that might be associated with relocating. Here are some potential costs to consider:
Residency programs
You will be required to meet the investment benchmark if you decide to use one of Malta’s residential programs. Such as MRVP or GRP. Whether one is planning to invest in real estate, government bonds, or even establishing a business here, the country offers these possibilities. The expenses connected with these investments are not fixed but instead depend on the asset market, the value of bonds and the costs incurred during the company’s establishment.
Citizenship-by-Investment (MIIP)
The Malta Individual Investor Programme (MIIP) requires an applicant to make a substantial contribution to the government in Malta. In addition, other financial commitments are laid down, such as the purchase or lease of property and investments in government-approved instruments. The personal cost for obtaining the Maltese nationality in the MIIP may reach several hundred thousand euros or even more.
Legal and administrative fees
The costs will be there to see. You will probably have to pay for consulting services, fees for processing applications, and administrative fees that are related to your residency or citizenship application. These figures may even be disparate depending on your case and the fees that legal practitioners are charging.
Property and Living expenses
Upon moving to this nation, you need to be aware of the cost of buying/renting a property together with the other regular costs you will incur like utilities, groceries, transport, and healthcare.
Taxes and financial planning
Getting an opinion from your tax advisor or financial planner is advisable to avoid misunderstanding your tax liability and financial position.
Additional expenses
You need to take into account several personal considerations such as, whether you opt for language classes or other courses. Cultural adaptation, schooling for children, health insurance, and other miscellaneous costs associated with the relocation.
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