Are you thinking of benefiting from an effective taxation system? Or do you want to get a quality life for your family in a serene environment? Many foreigners attract to Malta every year. These include entrepreneurs, freelancers, professionals, and retirees from Northern Europe and the UK. Some like a relaxed lifestyle and affordable costs of living in Malta while others attract to Maltese historical links to Britain
Malta offers various residence programs, such as the Malta Global Residence Programme (GRP) for people seeking to reside in this tiny Mediterranean island. People, who move to this EU country, fall in love with its architectural gems, natural beauty, and taxation system. The flourishing industries of gaming and financial services in Malta also attract some foreigners. Travelers are also attracted to many leisure activities like cultural events, diving, and vibrant nightlife.
Third-country nationals usually obtain Tourist Schengen Visa for traveling to different countries of the Schengen zone. It offers single or multiple entries and requires an extension if you want to spend more days in Malta or travel to another Schengen country. However, it does not get you the rights associated with a Maltese resident. Luckily, you can enjoy the benefits of residence in a stable EU country like Malta by obtaining permanent residency on the island.
Under a permanent residency program, you will need to pay tax at a rate of fifteen percent on the income you bring into Malta. The island has signed a double tax treaty with over sixty countries, and people from these nations do not need to pay income tax in Malta. After you have obtained permanent residency in Malta, there is no need to live in the country all the time. It means you can travel between Malta and other countries according to your preferences.
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