Dixcart Explains Malta's New Residency Scheme
by Ulrika Lomas, Lowtax.net, Brussels
10 September, 2015
Dixcart, a corporate service provider, has published a guide on Malta's newly introduced residence program, which is available to non-EU individuals and enables them to reside or stay indefinitely in Malta.
The new scheme is to run parallel with the four existing Maltese residence programs.
The investment criteria for the program are a EUR30,000 (USD33,606) contribution to the Maltese Government and an investment of at least EUR250,000 into Malta for at least five years. The applicant must also either purchase property worth at least EUR320,000 for at least five years, or rent a property for five years with a rental cost of at least EUR12,000 per year.
According to Dixcart, individuals taking advantage of this program, who are not of Maltese origin, and intend to stay in Malta for some considerable time, but do not intend to permanently establish themselves there, will be classified as resident but not domiciled in Malta. Such individuals will be taxed on Malta-source income and certain gains arising in Malta. They will not be taxed on non-Malta source income not remitted to Malta. Capital gains will not be taxed even if they are remitted to Malta.
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