If you are interested in tax planning joined with residence in Malta then get in touch with our local associate. High net worth individuals choose Malta residence, because the standard of living is remarkably high and along with the low prices and natural beauties they can enjoy the tax conditions and advantages tailored to their needs.
In 2011 Tonio Fenech Minister of Finance, Economy and Investment announced that they have reformed the rules by which the tax process created for high net worth individuals can be applied for in spite of holding an EU, EFTA, Swiss or other citizenship.
The point is that people with high income can migrate to Malta, where they can pay preferential taxes.
Here are some important tax benefits for high net worth individuals.
– Income from outside Malta which arrives in Malta has a uniform tax rate of 15%.
– Income generated within Malta and capital gains realized in Malta are taxable up to 35%.
– Income from outside Malta which has not arrived in Malta is not subject to taxation.
– Capital gains realized outside of Malta is not subject to tax even if the gains are transferred to Malta.
The EU/EFTA citizens including the swiss can only live with the opportunity of the special taxation if they pay up to a minimum of 20 000 euros of tax and additional 2 500 euros after every family member residing in Malta each year.