Global Residence Programme rules to be published next week

The rules and guidelines pertaining to the Global Residence Programme are ready and will formally come into play next week with the publication of legal notices regarding the same programme in the Government Gazette, according to Edward Zammit Lewis, parliamentary secretary for economic growth.

"The Global Residence Programme is highly awaited by those who operate within the field," said Zammit Lewis.

It aims to attract foreign investment and also stimulate the local property market and economy.

Zammit Lewis explained this programme was the product of extensive talks among relevant entities, including leading government experts and members of the Maltese Chamber of Commerce, Enterprise and Industry, as well as the Malta Developers Association and estate agency representatives.

"The programme is a direct result of the electoral manifesto which the government has managed to present in a short amount of time. The new administration has wasted no time and has immediately begun to involve the interested parties to come up with suggestions and ideas which will help in the programme's development," he said.

Zammit Lewis presides over the committee which is composed of John Huber from the Maltese Chamber of Commerce, Enterprise and Industry, Charles Mangion, Aldo Farrugia from the International Tax Unit, Mario Borg from the Department of Internal Taxes, Mark Sultana from the Citizenship Department, and Sandro Chetcuti from the Maltese Developers Association.

The government said it will be making use of this programme to encourage investment especially in the north of Malta and Gozo.

"I invite the private sector to start promoting this programme overseas, so together we can strengthen the Maltese economy and reputation," Zammit Lewis said, adding that abusive advertising or unprofessional behaviour would not be tolerated.