The Investment Registration scheme has just been extended until November 30 by the Government of Malta.
Legal notice to give effect to this extension will be issued shortly.
As pointed out in a previous news article, the scheme provides individuals the opportunity to register undeclared assets, located both in Malta and abroad.
Upon declaring the asset, the payable fees will be:
- 7.5% of the original costs in the case of immovable property;
- 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.
Please contact our tax advisor, Benjamin Griscti, on email@example.com before the scheme closes.