|
|
Ordinary Residence is an attractive
residence scheme currently available to individuals seeking to transfer
their tax residence from high-tax countries to overseas lower-tax
jurisdictions such as Malta. There are financial qualifications are easy to
satisfy and ordinary residents are entitled to the following benefits:
-
No minimum stay requirements
-
No world-wide income/wealth tax - tax only paid on income remitted to and
kept in Malta
-
No need to purchase property - only a minimum annual rent of EUR4,230
-
No minimum investment requirements
-
No Inheritance/Wealth Taxes
Ordinary residence is intended for persons seeking to take up
residence in Malta and physically live in Malta, possibly even obtaining
a work permit to enable them to seek employment in Malta.
|
|
