Leap of Faith: Launching the First Maltese Unit Trust Maltese Unit Trust The Maltese funds industry is has just seen the launch of its first collective investment scheme structured as a unit trust. In this paper, the author examines some of the legal and regulatory challenges which the launch of this structures gave rise to, […]
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Benefits of Property Purchase in Malta by Non-residents Benefits of Purchasing Property in Malta 1. Resale of property is allowed at any time. Property being resold after being used as the sole and ordinary residence for three years will be exempt from property tax or taxation on any capital gains arising on the sale. 2.
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Acquisition of Immovable Property Permits in Malta Purchasing a property in Malta 1. Introduction Prior to purchasing an immovable property in Malta, it is important to keep in mind that such an acquisition may be subject to certain requirements. The application or otherwise of these conditions is determined by specific characteristics that are central to the
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Conditions of Property Purchase in Malta by Non-residents Permit of Immovable Property An AIP Permit for the Acquisition of Immovable Property will be granted subject to the following conditions: 1. Minimum value of property depending on the type of property. 2. Restrictions apply to properties of historical interest. 3. Property purchased must be destined: for
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Renunciation of Maltese Citizenship The Maltese Citizenship Act provides two exhaustive modes of loss of citizenship, namely, Renunciation of Maltese Citizenship and deprivation by registration or naturalisation. A person who is a citizen of Malta has the right to renounce his or her Maltese citizenship. This provided that such person is of full age and capacity. The
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Tax on the Purchase of Property Purchase of immovable property The purchase of immovable property situated in Malta attracts duty on documents and transfers if the transfer document is executed in Malta. The default rate of tax payable by the buyer is 5% of the value of the property or of the purchase price, whichever
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Malta Global Residence Programme The Maltese Government has recently launched the latest residence scheme by the name Malta Global Residence Programme that opens up the doors to relocation by non-EU, non-EEA and non-Swiss nationals satisfying the revised minimum investment or rental thresholds and enjoying a lower minimum tax requirement. Benefits of the Malta Global Residence Programme Global residence
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Taking up Employment in Malta Empoyment in Malta Government Policy All foreign nationals require a work permit to work in Malta. In respect of foreigners, the Government maintains a very restrictive policy and employment licences are granted only in exceptional circumstances. Such work permits are issued to employers wishing to engage foreigners for a determined
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Malta HNWI Tax Residence Scheme – Europeans Malta’s ACT XVI of 2011[1] heralded the new High Net Worth Individuals – EU/EEA/Swiss Nationals Rules, 2011. This new legislation amended, inter alia, the Income Tax Act and replaced the old Permanent Residence Scheme. Article 56(23) is a new article added to the Income Tax Act and prescribes that
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Malta Property Buy-to-Let Investments Rental property market in Malta Now that people are seeing the light at the end of the tunnel of the global economic crisis, many are the persons on the lookout for a place where to safely protect their assets. Among the most popular solutions in this respect is to buy property
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Setting up an Electronic Money (“e-money”) Institution in Malta Electronic money institutions are regulated by the Banking Act, 1994, (“the Act”). E-money institutions are defined as any person – other than a bank – which issues means of payment in the form of electronic money. Electronic money is the monetary value as represented by a
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How Malta’s resident non-dom tax system, special tax programmes, permanent residence and family-office framework support internationally mobile HNW families.
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Malta Personal Tax Scheme for Gaming Executives The Highly Qualified Persons Rules 2011 (“the Rules”) enacted by means of Legal Notice 106 published in March 2011 but with retrospective effect as of tax basis year starting 1 January 2010, prescribe a preferential income tax bracket to a number of highly qualified professionals. Malta already is
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Malta Trusts – Uses of Trusts under Maltese Trust Law The use of trusts The use of trusts by both legal as well as natural persons has gained popularity particularly in Malta, regardless of whether the trust is employed for commercial or private purposes. The Maltese Trust may be used indiscriminately for international or local
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Ship Management: Manning Manning Maltese ships are subject to the provisions of the Merchant Shipping Act (1973) and ancillary regulations concerning the competency of officers and seamen. International Conventions Malta is a member of: the International Maritime Organisation (IMO) The International Labour Organisation (ILO). Malta has ratified all the major maritime conventions including: SOLAS
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