What are the main differences between the Global Residence Program and the Malta Residence and Visa Program?

One is a pure immigration status (MRVP), the other a tax status on the basis of which immigration status may be obtained. The Global residence programme would typically be of benefit in situations where you have significant foreign income which you wanted to / needed to receive in / remit to Malta, therefore the flat 15% tax rate on such income arising outside of Malta which is received in Malta, would be attractive as compared to the general progressive tax rates up to a maximum of 35%. However this should really be examined on a case by case basis depending on your personal circumstances, plans and aspirations.

The main difference between the Global Residence Program (GRP) and the Malta Residence and Visa Program (MRVP), is that the MRVP is a permanent residence programme, whilst the GRP is not. Once an individual obtains residence in Malta through the MRVP he/ she has obtain a permanent residence status which is valid indefinitely, on the other hand, the GRP status needs to be reviewed periodically. Another main difference between the two is that the GRP is a tax residence programme, which results in the individual being tax resident in Malta. The MRVP does not automatically lead to tax residence in Malta (it can, at the option of the client). As a tax programme, the GRP also has a minimum annual tax liability of 15,000 euros. No such minimum tax exists under the GRP. In terms of costs, the MRVP presents a higher one time investment requirement, whilst the GRP has a higher annual fee, which is the above mentioned minimum tax liability. Should you require any further clarifications please let us know.