The New Residence Programme: Advantageous Tax Status for EU Nationals
By Admin Admin With With 0 CommentsBy virtue of Legal Notice 270 of 2014, The Residence Programme, which replaces the old High Net Worth Individuals (EU/EEA/Swiss Nationals) rules, endeavours to attract affluent individuals who are nationals of the EU, EEA or Switzerland and who do not enjoy permanent resident status in Malta (permanent resident status in Malta is granted in terms of Article 6 of the Free Movement of European Union Nationals and their Family Members Order). Individuals benefitting from this Programme are not precluded from working in Malta.
A beneficiary under the Programme is afforded an advantageous tax status, subjecting such beneificiary to a tax rate of 15% on all foreign income which is remitted to Malta.
These rules shall be deemed to have come into force with effect from 1st July 2013.
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