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Benjamin Griscti

The Government of Malta has now officially launched a one-time scheme for the registration of investments not previously declared, henceforth enabling persons to regularise themselves. The scheme encompasses quite a broad scope, and the investments which may be declared include:

  1. deposits held with Maltese or non-Maltese institutions;
  2. shares, stocks, bonds, other instruments and derivatives;
  3. metal bullions;
  4. shareholder loans or other advances made to companies; and
  5. immovable property situated in or outside Malta.

The scheme applies even to persons holding their investments through fiduciaries or nominees and will close-up by 30th September 2014.

Upon declaring the asset, the payable fees will be:

  1. 7.5% of the original costs in the case of immovable property;
  2. 7.5% of the higher of the acquisition cost or the market value of other eligible assets.

The rate may be lowered to 5% if the proceeds derived are repatriated and invested in Maltese listed securities, or deposited in local banks.

For further information, assistance or any clarifications, please do not hesitate to contact our Tax Advisor, Benjamin Griscti, on bgriscti@ksimalta.com at your convenience.