The scheme aims to attract high net worth individuals looking to set up an alternative residency in a way that satisfies their lifestyle and offers generous tax incentives. The scheme offers the chance for individuals to apply themselves but in addition to bring their spouse and children and any other financial dependants.
One unique aspect of this scheme is there are no minimum wealth qualifications, minimum annual income or minimum annual remittance requirements, only that they have stable and regular resources. In order to qualify for this scheme, the applicant must be able to prove they have an address at which to reside when they arrive in Malta. The property can either be bought with a minimum value of ,EUR in Malta or , in Gozo and the south region of Malta, or alternatively rented at a value of EUR per year or for Gozo.
They must also make a minimum tax contribution to Malta of 15,, again a marked reduction from before when it was 25, with an additional 5, per dependant.
Applicants must hold a health insurance policy which covers all possible medical risks for them and their dependants and spans the entire span of the EU. The policy can be taken from a Maltese insurance company or an external one as long as the documents proving the payment for the policy, as well as the coverage, are supplied at the time of the application. Capital accrued through the sale of property and assets in Malta may be repatriated, on condition that all tax outstanding have been settled.
The scheme also offers double taxation relief. In addition there are a variety of other tax incentives in relation to stamp duty, property sale, inheritance, estate tax and wealth tax. Malta really is a hub for. If this scheme seems attractive to you and you feel you meet all of the requirements, please do visit our website: www.
