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immigration & residence > permanent residence > tax benefits

Tax & Other Benefits of Permanent Residence

     

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1. An unusually low tax rate

2. Exemption from Customs Duty/VAT

3. Freedom of movement

4. Vehicle Registration Fees

5. Repatriation of your capital and income

6. Rental of Property

7. No death duties are payable in Malta

1. A low flat tax rate

A flat rate of 15% is chargeable on all income (less personal allowances) received in, or remitted to, Malta from either local or foreign sources. This is subject to a minimum payment of EUR4,230 (approx. US$4,900) per annum.

[Read more about the Tax system applicable to Permanent Residents of Malta]Top

2. Exemption from Customs Duty/VAT

Your used household and personal effects, furniture and other domestic articles (excluding firearms and weapons of all kinds) may be imported free of import duty if imported within six months of your arrival in Malta to take up residence. In such cases import licenses are not required.

Click here for more info about importation of motor vehicles.top

3. Complete Freedom of Movement

There are no annual minimum stay requirements. A Malta permanent resident may travel to and from Malta freely without the need of applying for a visa or extensions of stay.

4. Vehicle Registration Fees

Malta Permanent Residents are allowed to register their imported vehicle at preferential rates.

[Read more about taxes applicable to the importation of cars.]

top5. Repatriation of your capital and income

Proceeds from the sale of property, encashment of investments, local income and excess income brought into Malta may be freely repatriated by permanent residents, provided that any tax due has been settled.

6. Rental of Property

Owners of properties with swimming pools or properties enjoying the use of swimming pools are allowed to rent them out, provided that such properties are licensed as holiday accommodation by the Hotels and Catering Establishments Board. All income thereon, is of course, subject to the 15% tax rate mentioned in (1) above and may be repatriated as in (5) above.  Leased  properties may not be sub-let.

top7. No death duties are payable in Malta

1. If a property is purchased in one name, the heirs of the deceased have to pay 7% provisional tax on the value of the property declared. This value will in turn be verified by an appointed architect.

2. If a property is bought jointly and one of the parties passes away, provisional tax of 7% is only paid on half the estate, i.e. half the value as stated in (1).

Though no death duties are payable in Malta, Transfer duty (according to the Duty of Documents and Transfers Act, 1993) is charged on:

  • immovable property in Malta.

  • any shares in a locally registered company (excluding those companies listed on the stock exchange).

For more information about the Malta Residence Scheme, click on the links on the left hand menu of this page.

 

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