27th June 2008

Any non-Maltese resident individual may apply under legislation entitled "Residence Scheme Regulations".

Through such scheme, eligible individuals are issued with a residence permit entitling its holder to retire, settle or stay indefinitely in Malta.

Tax Benefts

1. A flat rate of 15% on all income recieved in or remitted to Malta from either local or foreign sources. This is subject to a minimum tax of Euro4,150 per annum.
2. In determining the amount of the annual income brought into Malta no consideration whatsoever shall be taken of any income which is transferred again out of Malta.

Eligibility

1. An applicant has to provide documentary proof that from the date of application he has either an annual income of not les than Euro23,000 arising outside Malta or has in his possession a capital not less than Euro349,000.
2. Provide documentary proof that he can bring into Malta an annual income of not less than Euro14,000 in his respect, and a further Euro2,300 in respect of each dependant.
3. Any rights conferred upon an individual through the issue of a permit issued under these regulations shall not extend to any other person except the individual dependants.

Dependant persons include

1. If applicant is married, his spouse
2. Sons and daughters under 21 years of age
3. Parents or grandparents financially dependant on applicant

Applications for a certificate issued under the Regulations shall be made on a prescribed form, and contain the information and documents therein requested.

N.B This is just an information note. It is expected that anyone seeking like information consult with appropriate professionals in our firm.