|Malta's Corporate Services
non resident wishing to take up permanent residency
in Malta would benefit from
Tax at 15% which is only levied on income
brought into Malta. Global income is not taxed
in any way.
A Permanent Residence Permit entitles the holder
who is not a citizen of Malta, to reside permanently
in Malta without the necessity of obtaining and
renewing an entry visa; the Permanent Resident
therefore has freedom of movement in Malta . Provided
that the Permanent Resident remains within the
law, then the permit is renewed annually as a
formality and once granted, a permit will not
be revoked unless there the Resident breaks a
condition of the permit. The Permanent Residence
Permit has no effect however on the visas the
holder might need to enter other countries from
Malta; therefore a permit holder who, because
of his nationality, might require a visa to enter
another country from Malta, will still need to
acquire that visa notwithstanding that he holds
a Maltese Residence Permit and notwithstanding
that a Maltese person might not need a visa to
enter that other country.
Residence Permit will never entitle the holder
to acquire Maltese citizenship.
Residence permit holders pay a flat tax rate of
15% on all income brought into Malta .
This is subject to a minimum payment of Euro 4,500
per annum. This minimum payment covers an income
of approximately Euro 30,000.
The Permanent Resident’s global income,
which is not brought to Malta, is not taxed in
the permit is issued and the permit holder has
registered with the Inland Revenue Department
in Malta, the Maltese tax authorities will certify
that for Maltese taxation purposes, the permit
holder is resident in Malta.
On the basis of this certificate, most countries
will consider the permit holder to be resident
in Malta for tax purposes; the consequence of
this varies from country to country. Some countries
will not tax their citizens at all if they are
resident in Malta; others will tax them at a lower
rate . However each case and country should be
holder of a Permanent Residence Permit also gets
an exemption from customs duty on household and
personal effects brought into Malta, furniture
and other domestic articles (excluding firearms
and weapons of all kinds) and one car provided
they are brought to Malta within six months of
the permit being issued. Personal effects and
the vehicle may be taken back out of Malta with
residency in Malta:
1. No minimum stay or residence in Malta is required
after the Permit has been issued (But the resident
must come once in the first 12 months)
2. The holder must either purchase an apartment
for not less than Euro 75,000 or lease/rent property
for not less than Euro 4,500 per year within the
first 12 month
3. Once a Permanent Resident decides to abandon
his Maltese residence, accumulated capital and
income may be taken back out of Malta with no
4. No death duty (succession tax) is payable in
Malta but on a person's death there is a 5% charge
on immovable property situated in Malta.
5. When the Permanent Resident abandons his Maltese
residence, he is entitled to re-sell any immovable
property and take the capital out of Malta but
the profit made from the sale is taxed as a Capital
Gain; the rate for Capital Gains Tax is 35% at
the present moment.
6. A Permanent Resident cannot take part in politics
and cannot vote at elections, but a Permanent
Resident is entitled to vote for Local Council
7. A Permanent Resident cannot work in Malta.
However a Permanent Resident may use Malta as
a base to work from, provided that he does not
offer his services on the local market.
us for more information as well as for a quote.
We will happily guide you through the Malta company
formation process and also advise you on the solutions
that would best suite your needs!. info@CompanyinMalta.com.
Or +356 2010 3020
The content on this website is for information purposes only and should not be taken as tax, legal or any other professional advice.