Malta introduces a new scheme for obtaining a residence permit

The new scheme of obtaining a residence permit for foreigners in Malta was announced June 1, 2013 and approved by the Malta Association of builders, reported online edition of the Times of Malta . Under the new scheme, which is called Global Resident Program, foreigners who bought property in the country cost 275 000 euros, and in the southern part of Malta and Gozo - 220 000 euros, and who regularly pay taxes in the country, will be able to get a residence permit in Malta on favorable terms. The program is planned to confirm the end of June 2013. In the framework of this program, the minimum tax on income earned by foreign residents in Malta, has been reduced from 25 000 euro to 15 000 euro, further tax rate on income is 15%. As the source notes, foreigners who have received a residence permit under this program, will be provided free public health care. Also, foreign applicants will be given the opportunity to obtain a residence permit in the country at the lowest cost rental housing in Malta in the amount of 9,600 euros per year, and in the south and Gozo - from 8750 euros per year. Previously discussed the amount of EUR 20 000 per year. Previous scheme for obtaining a residence permit in Malta, which was suspended in 2011, proved to be unpopular - the minimum purchase price then rose from 116 000 to 400 000 euros. HomesOverseas.ru