Malta’s Tax System Explained

Malta Tax System

Despite the pastoral scenery surrounded by beaches and endless views of the ocean, Malta is very much a modern European economy.

That means a sophisticated tax system with a number of different tax regimes, which apply to foreigners, residents and citizens of Malta.

Sophistication can be a good thing (even if you’re not a tax advisor) because it allows the government to use taxes to have positive effects on your way of life. But the complexities of Malta’s tax code can get a bit frustrating at times.

Below is a straightforward and easy-to-understand guide to what you need to know to stay on the good side of Malta’s tax department. From double tax treaties to VAT to Malta’s inheritance tax, we’ll cover it all here. Continue reading “Malta’s Tax System Explained”

Malta Company Registration & Formation

Malta Company Registration

Malta has a dynamic and growing economy with a labor force that is starting to catch up to the rest of Europe in terms of competitiveness. If you have an entrepreneurial idea, few places are better than Malta for starting your company.

Equally, Malta has one foot in Europe and the other committed to maintaining its pro-business tax haven laws. Malta is a strong candidate if you’re looking for a jurisdiction to start a holding company meant to shelter European income from taxes.

Many new companies are established in Malta every year and the process is relatively easy. But Maltese bureaucracy can move slowly and be on the tedious side if you try to go it alone and miss a critical step.

For that reason, it might make sense for you to work with a local adviser who can help walk you through the finer points of the process.

This comprehensive guide will help you get set to plan and register any type of company that you want to form in Malta. As well as trading companies, we’ll also cover the rules that pertain to offshore and holding companies.

Continue reading “Malta Company Registration & Formation”

Citizenship by Investment in Malta: Costs, Process, Timeline & More

Malta Citizenship by Investment

The world in 2019 can seem like an uncertain place. Conflict and prosperity are no longer separated by oceans. And stressed international organizations are not the guarantors of safety they once were.

That’s why affluent entrepreneurs aren’t always content to stay home and hope for the best. Many take their destiny into their own hands and leverage their wealth to make a safer, more secure home for their family.

Malta’s citizenship by investment program is one of the most popular ways to fast track this process.

Malta has a lot to offer, including possibly the sunniest weather in Europe and one of the continent’s most favorable tax systems.

Even with all of these advantages, it might be the easiest place in the European Union to quickly get a passport — at a price. The government’s citizenship by investment scheme trades the pluses of Maltese citizenship for investment in the country.

This guide will cover all the details of how to get Maltese citizenship by investment — from the timeline to what documents you’ll need to support your application. It’s a big step and does not come cheaply, so read carefully and reach out for professional advice if you feel like you need further clarification.

Continue reading “Citizenship by Investment in Malta: Costs, Process, Timeline & More”

How to Get Maltese Citizenship in 2019

How To Get Maltese Citizenship

There is a long list of reasons for why you might want to live in Malta. We have some of the best weather in Europe — partly because we’re on the geographic edge of the continent. Our country is packed with culture, surrounded by beaches and full of people enjoying a laidback way of life.

Malta also has a stable government, which respects the rule of law and delivers a relatively crime-free environment to the Maltese people. Our economy is forward-looking and set up to focus on growth for the foreseeable future.

Maybe most importantly, we took the decision over fifteen years ago to join the EU and participate in the European community. Malta approaches the rest of the world with open arms.

That, in part, means that Malta has one of the world’s strongest passports. Being able to carry the passport ranked 9th by Henley Partners is one of the great advantages of Maltese citizenship.

So, how easy is it to get Maltese citizenship? The answer depends on your family, how much time you have and your willingness to spend money on the process.

This comprehensive guide will take you through the process of setting yourself up to become a citizen of Malta. We’ll cover the time it takes, requirements for each of the routes to citizenship and the fees involved.

Continue reading “How to Get Maltese Citizenship in 2019”

Guide to Malta’s Tax Rates

Malta Tax Rates

At first glance, Malta appears to have a tax system that is very similar to what you’d find in Western Europe, North America or other developed countries.

There are tax brackets in Malta and the top bracket pays 35% of their above-threshold income.

For our purposes, the most interesting aspect of the tax system are Malta’s tax rates on foreign residents of Malta.

In a nutshell, if you qualify for this status, you will only pay Maltese tax on the income you generate in Malta or on money you remit to Malta. That probably means you pay a lot less than 35%.

There are exceptions and other points to keep in mind. And there are situations where you might want to become a Maltese citizen and therefore become subject to Malta’s entire tax system.

This guide will lead you through the finer points of all those eventualities. We’ll cover everything Malta’s capital gains taxes to the tax rates in Malta for corporations

Continue reading “Guide to Malta’s Tax Rates”

What You Need to Know About Banking in Malta

Banking in Malta

With its position as an international financial center and attractive status for expats, Malta’s banking system deserves some attention.

At the turn of the 21st century, Malta had only four commercial banks. Due to a solid economy and prudently managed banking system that number is now over 25.

The search for the right bank in Malta can depend on factors like whether you already have an account with one of the global banks who operate here and whether you want private banking services.

Whether you want to move to Malta, are looking to register a company here or want to know about offshore banking in Malta, read on. In this guide you will find everything you need to know about banking in Malta. Continue reading “What You Need to Know About Banking in Malta”

Is Malta a Tax Haven?

Malta Tax Haven

Malta has always been an outlier. Whether you look centuries back to the time when it was ruled by a Catholic order of knights or more recently as a British colony — it has done things differently.

The colonial history combined with a more recent desire to build a reputation as a financial center and establish a strong economy has led Malta to a very favorable tax regime. One that some people may call a tax haven.

But the current desire to integrate with the European community and avoid censure from American authorities has lead Malta to scale back on the tax allowances.

Still, government authorities say Malta’s tax code is its strongest card in a competitive world.

Is Malta a traditional tax-free jurisdiction in today’s world? Definitely not, it has some of the highest on-paper tax rates in the world. But there are some very attractive tax advantages in Malta and we’ll thoroughly outline them in this article.

Continue reading “Is Malta a Tax Haven?”

Finding the Right Tax Advisor in Malta

Malta Tax Advisors

Taxes are often a complicated part of life. Tax codes usually set out with clear intentions to incentivize certain choices. Time and competing interests can muddy these waters.

But this gets increasingly complicated as an expat or someone who has assets or income from abroad.

In Malta, there are a few residency schemes (with significant tax incentives) laid on top of a fairly straightforward tax system. So, even if locals don’t need a tax planner, you might to ease the process of relocating to Malta.

Some of Malta’s residency programs are only open to EU citizens (or citizens of EEA countries) and some are open to everyone. Professional advisors can help sort through these details.

As well, the list of countries who have signed a double-tax treaty with Malta continues to grow. That might mean that tax planning advice may be helpful if you’re sorting out what you owe to a former home country, or when investing and operating businesses abroad.

Below, you’ll find advice on the best of Malta’s tax advisors and a full guide to how they can help you soften the blow at tax time.

Continue reading “Finding the Right Tax Advisor in Malta”

Health Insurance in Malta

Malta Health Insurance

Malta’s healthcare system is one of the country’s main selling features. In fact, some world rankings have put it as high as 5th globally.

That level of excellence comes at a cost. Citizens and most residents have access to free health insurance in Malta that is supported by social security contributions made by employees and employers.

For things that aren’t covered, there are private health insurance options in Malta. Buying one of these policies can be a smart move for expats.

Below is an outline of how the system works, what’s covered and estimates for the cost of one of Malta’s health insurance options.

Continue reading “Health Insurance in Malta”