Are you:
Taking up a job in Malta?
Retiring in Malta?
Buying property in Malta?
Doing business in Malta?

We can help!

OPPORTUNITY OVERVIEW

The Island of Malta owes its attractiveness to more than Mediterranean Sun and Sea.  Malta offers a high quality European standard of living and education, a less frantic pace and a famously safe environment with multi-lingual and friendly people. Malta is also a full member of the European Union.

THE MALTA PERMANENT RESIDENCE SCHEME

The 1988 Residence Scheme is designed to attract high net worth individuals to take up permanent resident status in Malta and is especially attractive to entrepreneurs, retirees, intellectuals and international consultants or simply persons seeking to establish an alternative residence that suits their lifestyle and tax profile.

The Benefits of the Scheme

No Minimum Stay
The absence of any minimum stay requirements means that persons holding a permanent residence permit
have full freedom to continue conducting their normal lifestyle whilst securing an alternative residence. Physical presence is only required at least once within a year from the issue of the permit and is thereafter not required.

EU Membersip & The Schengen Area without a Visa
An interesting benefit resulting from being a Maltese Permanent Resident is the Freedom of Movement within the Schengen Area. Upon joining the European Union in 2004, Malta also opted to form part of the Schengen Area Agreement and therefore any person resident in Malta, whatever his nationality, now enjoys the ability to travel from Malta to the other member states in the Schengen area.

Low Flat Tax Rate & Minimum Tax
A flat rate of 15% is chargeable on all income (less personal allowances) received in, or remitted to, Malta from either local or foreign sources. This is subject to a minimum payment of EUR4,192 (approx. US$4,900) per annum.

In the absence of significant remittances of income, it may be more feasible for EU nationals to opt for the Ordinary Residence Scheme which imposes no minimum tax liability.

Capital Gains
Income not remitted (transferred) to the PR’s Malta bank account and capital gains (whether remitted or otherwise) fall outside the scope of Maltese tax.

Double taxation relief

Malta enjoys 51 double tax treaties, persons who take up residence in Malta can receive their pensions in Malta free of tax at source and subject to a mere 15%.

Overseas capital funds invested locally are of course only taxed on any interest or dividends generated thereon, again at a 15% flat rate.

Full Exemption from Customs Duty/VAT

Your used household and personal effects, furniture and other domestic articles (excluding firearms and weapons of all kinds) may be imported free of import duty if imported within six months of your arrival in Malta to take up residence. In such cases import licenses are not required. 

Sale of Property

Property in Malta can be sold completely exempt from tax if such property is held for a period of 3 years as the resident’s sole and ordinary residence.  If sold before the lapse of 3 years, a final property tax of 12% is chargeable on the selling price.