Bond requirement removed from Malta Residence Schemes

HNWI Residence Bond
(non-EU nationals) Removed
Another welcome change in Maltese immigration and tax laws is the removal of the Euro500K bond that was due under the Malta HNW Residence Scheme for non-European nationals.  The amended rules allow residence permit applicants or holders under the latest residence scheme to sign a declaration undertaking not to reside in Malta for more than 9 months in any given year and to renounce to any rights that may accrue in their favour under the EU Long Term Residence Directive and thus be exonerated from satisfying the bond requirement.

This is welcome news that nicely complements the recent removal of the minimum stay requirement under Malta Residence Schemes for both EU and non-EU nationals.  Under the original text of the relevant tax regulations, a residence permit holder was obliged to prove, at the end of each year of residence in Malta, that he or she had resided for at least 90 days in Malta.  After the recent amendments, the 90 day minimum residence requriement has been removed.

Related publications: