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Malta & Gozo Residency

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Malta & Gozo Residency

PERMANENT RESIDENCE PERMITS

As far back as the 1960's, Malta has tried to attract foreigners, who would be able to meet certain financial and property conditions, to settle on the Islands. The main reason has always been one linked to an economic objective. The settlers would bring foreign exchange to the Island and their spending would generate income into the economy.

Expatriate Tax and Residency
Malta has two residency schemes which encourages foreigners to take up residence here. These schemes are supported by an attractive tax structure, amongst other advantages. Foreigners residing in Malta are not taxed on their worldwide income but only on any Maltese source income and on foreign income remitted to Malta.

Foreigners becoming resident under the Residents Permit Regulations are taxed at a flat rate of 15%. Those becoming resident under the Ordinary Residents Scheme are taxed by the normal rates of income tax. There are no net worth or real estate taxes and whilst a tax on capital gains arising from the sale of real estate in Malta does exist, this does not apply to the sale of one's main residence if the property is owned and occupied for at least three years.

Details Permanent Residence Scheme Ordinary Residence Permit

Minimum Stay
Requirement

None None
Minimum Annual
Tax
€4,200 None
Tax on World Wide
Income

None

(If not remitted to Malta)

None

(If not remitted to Malta)

Property Purchase

Not Required

Min. €4,200 annual rent)

Not Required

Min. €4,200 annual rent)

Investment None None

Inheritance/Wealth
Tax

None None
Tax Rates

15% on remitted income

(Min. €4,200)

Low Tax on remitted income
Travel Requirements None within Schengen Area None within Schengen Area

Various Permanent Residence Schemes have been launched in the past in this respect. The persons, who satisfy the relative conditions, were/are granted a residence permit that entitles them to remain indefinitely on the Island, precluding them, however, from exercising any kind of work activity in Malta.
The Inland Revenue Department administers the permanent residence permits http://www.ird.gov.mt/info/residentscheme.asp

TEMPORARY RESIDENCE

For Third Party Nationals (Non EU/EEA Nationals)

The following link Uniform Residence Permits for Third Country Nationals.pdf and Legal Notice 278 of 2006.pdfare applicable for Non EU/EEA Nationals. For English version refer to Pages 16-30.

EU Nationals

Please refer to http://www.doi.gov.mt/EN/legalnotices/2007/07/LN 191.pdf For English version refer to Pages 23-43.

The Citizenship and Expatriate Affairs Department is responsible for all the administrative tasks related to temporary residence in Malta.

ADVICE

Should you require more in depth taxation advice Malta Homes Estate Agents can arrange an appointment to visit a taxation specialist that will answer all of your questions and queries in order to determine your status on fiscal matters?

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