November 16, 2022
Malta launches new “Startup Residence Programme” for business founders and core employees
The Maltese authorities recently launched the “Startup Residence Programme” (SRP) for eligible business founders, co-founders and core employees who are nationals of countries located outside the EU and EEA (i.e., third-country nationals). Successful applicants will be issued residence permits that are valid for up to three years and permitted to sponsor dependents. The SRP is the first immigration program of its kind in Malta. Prior to its introduction, with limited exceptions, third-country nationals were eligible to apply for Maltese residence permits only if they were self-employed, employed by Maltese companies, economically self-sufficient, or if they worked remotely from within Malta for non-Maltese companies (i.e., digital nomads).
A Tax Alert prepared by EY's People Advisory Services group, and attached below, provides additional details.
Full text of Tax Alert