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Maltese Permanent Residence
EU Membership
Having a Maltese Permanent Residence Permit
means having free and easy access to a geographical and business stepping
stone between Europe and the rest of the world. Strategically located in the
centre of the Mediterranean Sea, Malta has become very attractive to non-EU
citizens desiring a base in the EU and to EU citizens wanting a pleasant,
low tax country to retire in.
Visa free travel to and from
Malta
Malta visa requirements do not apply to
foreigners holding a Maltese permanent residence permit. No entry visas are
therefore required to travel to Malta and permanent residents can travel to
and from the island freely - complete freedom of movement.
No minimum stay in Malta required
Permanent residents need not reside in Malta
for any minimum period and only need to visit Malta once within a year of
the issue of the permit.
Low Tax Rate for Permanent
Residents
Permanent Residents pay tax at the reduced
flat rate of 15% only on income brought into or generated in Malta
and not on a worldwide basis. At all times, the minimum tax payable
each year is LM1,800.
Income taxed in Malta qualifies for double
taxation relief under the wide network of double taxation treaties and other
forms of double tax relief. For example, UK pensions received by
expatriates holding a Maltese permanent residence permit can be taxed in
Malta alone at 15%.
Duty-free/ VAT free Importation of Personal
Belongings
Your used household and personal effects, furniture and other domestic
articles (excluding firearms and weapons of all kinds) may be imported free
of import duty if imported within six months of your arrival in Malta to
take up residence. There is no need for import licences.
Capital & Income can be repatriated
Proceeds from the sale of property, encashment of investments, local income
and excess income brought into Malta may be freely repatriated by permanent
residents, provided that any tax due has been settled.
No death duties are payable
No death duties are payable in Malta but
Transfer duty (according to the Duty of Documents and Transfers Act, 1993)
is charged on immovable property in Malta and any shares in a locally registered company (excluding those companies listed
on the stock exchange).
Malta Dual / Multiple Citizenship
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