Tonio Fenech, the Minister of Finance, the Economy and Investment, has today launched the Special Tax Status for High Net Worth Individuals Schemes which replaces the former Permanent Residency Schemes.

Among some of the new details unveiled are that applicants now have to purchase property of over €400,000, or rent at €20,000 per annum, previously the former thresholds were €69,000 for property purchased, or €4,150 for property rented.

The applicant must be a non-Maltese domiciliary, in possession of health insurance as well as stable and regular resource, and pass a Fit and Proper test.

Full details can be downloaded here.

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