An Overview of Tax Residency Malta

Many colonial nations like Malta have a desire to build a reputable financial center and a strong economy. With a favorable tax regime and several associate benefits, this EU country has attracted many people as a tax haven.

Malta tax residency is a popular option for those individuals with a foreign domicile who are looking for ways to reside in Malta with their families. These residency programs not only help you get residence on the island but also allow you to enjoy reduced tax on the income remitting to Malta.

Provisions of Income Tax & Remittance Tax

People who are Maltese tax residents but do not have a domicile in Malta for tax purposes will have to pay the standard rate of tax on all income coming in Malta.

The remitted income, on the other hand, will require you to pay a fixed tax rate of 15 percent. It is the income, which arises outside Malta but received in the country. Likewise, you will have to pay no tax on the capital gains or earnings, which take place outside Malta and do not come to the country. Remember, people having a permanent residency certificate or long-term residence cannot apply for the tax residency.

Tax Malta Residency Programs 

While there are four different options for Malta tax residency for non-domiciled individuals, it greatly depends on the background, nationality, and personal circumstances. Tax residency programs include Residence and Visa Program, Global Residence Program, Retirement Program, and Highly Qualified Persons Programs.

Some of these programs are suitable for non-EU individuals, while others will be beneficial for EU nationals to reside in Malta. If you are not sure of what tax residency program is the most suitable for you, contact a reputable consultation to discuss residency tax requirements Malta for free and initiate the process once you are satisfied with your chosen option.