Moving to Malta can occur for many different reasons. In some cases, clients would want to retire in Malta, whilst others would like to change their current working environment – open a new business or relocate an existing business (company redomiciliation), or seeking employment opportunities on the island. Added to that is the undeniable fact that the good weather, with approximately 300 days of sunshine a year and an average year-round temperature of 19 degrees, makes Malta the Mediterranean’s number one attraction whilst some people would like simply relish the opportunity of living by the sea.
In this connection, the reasons for relocation are most frequently professionally and personally motivated, and tax considerations play a big role in any decision. It is no secret that Malta offers tax benefits for both business and individuals who decide to relocate here.
That is why for any relocation, opportunity tax and legal advisory play a pivotal role.
In fact, this is one of Griffiths + Associates’ core fields and as such, we offer one-stop-shop level expertise to clients willing to move to Malta.
Moving to another country is a daunting experience. If you wish to make everything run like clock-work with us we will ensure each and every aspect is perfect, right down to the very smallest details. From advisory to opening the business, we take care of it all.
How Can We Help With Your Move To Sunny Malta?
Our Personalised Relocation Services Include:
Relocation Advisory
Our experienced accredited immigration lawyers offer fixed-fee initial consultations to advise both individuals and companies on their specific Maltese residence issues. We will provide you with clear and pragmatic tailored advice, in plain English/Spanish/Italian/Russian to empower you to make informed decisions.
As well as supporting clients with visa and residence issues, we advise about taxation, establishing a business, employment law queries, estate planning among other things.
Opening a Business in Malta or Business Relocating and other Business Support Services:
Great business opportunities by sector:
Financial Services, Cryptocurrency, ICT, Electronics, Pharmaceuticals, Gaming, Aviation, Maritime – Malta Flag, The Film Industry, and Training and Education.
EU funding:
Maltese Government offers several incentives for business operations in Malta.
A tax-efficient jurisdiction:
Despite a rather high 35% corporate tax, Malta’s tax regime provides for a number of reductions, a participation exemption regime for qualifying holdings, and it is also the only EU jurisdiction to apply a full tax imputation system.
Malta has also entered into over 80 double tax treaties and set up various regimes which provide for relief from double taxation.
Malta Retirement Programs:
Find out if you are eligible to apply for Maltese Retirement Programs and submit your application through Griffiths + Associates, we will ensure you are supported professionally and expertly throughout the application.
Malta Retirement Program (MRP):
As of 2020, if you are a Non-EU citizen and thinking of retiring in Europe, you are eligible for this program.
Retirees willing to retire in Malta, are able to do so under a beneficial tax status when remitting their pension into Malta, the program gives a 15% flat tax rate on any foreign pension income received in Malta, and fulfilling some additional investment criteria.
United Nations Pensions Program (UNPP):
Special Tax Status for UN Pensioners, was introduced through the Maltese Parliament on June 5, 2015 through Legal Notice 184 of 2015. That program is available to all non-Maltese beneficiaries in receipt of a pension from the United Nations joint staff pension fund.
Malta Residency Programs:
We as an Authorised Registered Mandatory, will assist you all the way for you to be granted with a special tax status: preliminary advice you, perform due diligence checks as part of the onboarding process and get everything ready for the preparation of your application.
The Malta Permanent Residence Program (MPRP):
That program grants a Maltese residence permit (on the basis of a contribution to Malta, an investment in property, and a donation to a charity organization) which allows free travel within the EU Schengen Area without the need of applying for a visa, the right to reside, work, settle and stay indefinitely in Malta
The Global Residence Program (GRP):
That Program aims to attract Non-EU/EEA/Swiss entrepreneurs, High Net Worth Individuals and investors. GRP gives tax status in Malta, by setting the personal tax rate to 15% on external sources of income remitted to Malta, not a residence card. A separate application has to be applied for a Maltese residence card.
The Residence Program (TRP):
That program aims to attract to Malta private clients and High Net Worth families from the EU, EEA or Switzerland interested in gaining tax residence in Malta. Beneficiaries under TRP will be issued with a residence permit and entitled to a special status by the Malta International Corporate Tax Unit (ICTU) whereby income generated overseas, but remitted to Malta will be taxed at a fixed rate of 15%.
How To Move To Malta, Another New Opportunity To Catch Maltese Residence!
Nomad Residence Permit
COVID-19 has caused massive changes to our daily lives, the world of work has changed forever – the virus has broken through cultural and technological barriers that prevented remote work in the past, and if some companies used to offer the ability to work from home as a perk, it has now become the norm for most businesses.
With this trend posited to continue in 2022, Malta went further and launched the Nomad Residence Permit.
Malta is ready for digital nomadism: the legal framework already in place, internationally connected airport, high-speed reliable internet service, English as a national language, security environment, mild climate and many other perks for foreigners.
→ Purpose
The purpose of this initiative is to attract foreign consumption in Malta.
Digital nomads may be employed anywhere and paying their taxes there, but they would be physically located in Malta. That means their residency (not for tax purposes) would be in Malta, taxes would be payable in a different jurisdiction.
→ For whom
This residence permit opens to highly skilled professionals – individuals, non-EU nationals, who can work remotely and independent of location, using telecommunications technologies. This enables holders to retain their current employment based in another country whilst legally residing in Malta. This is particularly relevant for such sectors as iGaming and Information Technology.
→ How it works
Applicants who wish to work remotely from Malta for a temporary period of up to one year must prove they can work remotely, independent of location. They should either work for an employer registered abroad, conduct business activity for a company registered abroad, and of which they are partners or shareholders, or offer freelance or consulting services to clients whose permanent establishments are in a foreign country. Moreover, an applicant must reach a monthly income threshold of EUR 2,700 gross of tax (only for one person, not for all eligible family members).
Applications will be effected online, costing a flat fee of €300. For this, Identity Malta Agency is launching the new visa service – a “door-to-door” option intended in order to streamline the process without compromising the due diligence process.
→ Duration
Applicants can apply for a temporary visa of 6-month under this scheme, with an option of obtaining the one-year permit. Nomad residence permit can be renewed as long as the applicant still meets the set eligibility criteria.
© By Olga Saliba Griffiths + Associates
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