Residence in Malta

Residence in Malta

Malta offers a Permanent Residence Scheme that is very advantageous to persons who wish to take up residence in Malta.

The main tax advantage is that holders of the Residents‘ Certificate are charged to tax in Malta at the rate of 15% with a minimum tax liability of Euro 4200 after double taxation relief per annum. The tax is calculated on income and capital gains arising in Malta and on foreign income (excluding capital funds) remitted to Malta. The permit holder is not subject to tax on worldwide income Foreign source income is only taxed in Malta to the extent that it is received in or remitted to Malta. Sums of a capital nature remitted to Malta are not taxed.

There are also other advantages in taking up residence in Malta. There is no real estate tax in Malta. Tax on capital gains arising form the sale of property in Malta is levied but residents are exempt from tax if the property has been used as their main residence for three consecutive years and the property is sold not later than one year of vacating it. Duty is chargeable on the purchase of property in Malta at the current rate of 5%.

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