No matter the reason one is relocating, moving is more often than not a daunting experience. Though for those who are either free-spirited travellers or who out of necessity have to relocate, living in Malta becomes an exciting and thrilling adventure.
Complimented with its stunningly pleasant annual climate, safe environment, laid-back Mediterranean lifestyle, advantageous cost of living and tax benefits, it is therefore no wonder that so many people choose to start living in Malta.
Living in Malta is a relatively smooth process. In fact, the Ordinary Residence Permit is mostly aimed for EU/EEA citizens who would like to live in Malta. However non-EU/EEA citizens may also utilize from the same benefits.
An EU/EEA citizen has the right to enter, remain and reside in Malta. When an individual intends to reside in Malta for a period longer than three (3) months, he is then obliged to apply for a residence permit with the DCEA (Department for Citizenship and Expatriate Affairs). This also applies to non-EU/EEA citizens.If the individual is qualified for Ordinary Residence then he must work. If not, he must be able to financially support himself and his family members accompanying or wishing to join him in Malta, without recourse to public funds.
Please note that individuals with a very high income who want to bring the income to Malta would better opt for the Global Residence Programme as they can enjoy a beneficial flat tax rate of 15% on the additional income above the minimum income remitted to Malta.In order to reside in Malta and be able to support yourself and your family members living with you in Malta, without recourse to public funds sufficiently, you must be covered by sickness insurance against all risks whilst in Malta and have sufficient resources. In this respect, such level of resources should be the minimum means which determine the grant of social assistance to Maltese nationals. Currently this should be a capital of at least €14,000 yearly or a weekly income of €84.95 or, in the case of a married couple, a capital of €23,300 yearly or a weekly income of €93.10.
If you are dreaming of living in a perfect property on a Mediterranean island, look no further; Malta is the perfect place for you. The island promises a comfortable, peaceful life of luxury with a cosmopolitan culture and endless history. Searching for property in Malta is a safe and easy going process. That said; there are many areas on the island which enjoy Special Designated Area status, where property purchasing for foreigners is made even easier. This status given to various developments, allows non-Maltese citizens to purchase property within the same rights as Maltese citizens. To mention a few locations and developments, one may buy a fine property in Ta’ Monita - Marsascala, Tas-Sellum - Mellieha and Portomaso – St Julian’s. It is also important to note that properties bought in these Special Designated Areas are exempt from the restrictions set out in the AIP Act. Consequently, property bought here by an individual/s, companies or trusts are free to lease any property that they own legally.