Practice Areas

Financial & Fiscal Services

Permanent residents are persons who hold a residence permit entitling them to remain in Malta with the freedom to come and go as they please, but not be gainfully employed in Malta. Income remitted to Malta is chargeable to income tax at a flat rate of 15%, subject to a minimum charge of Lm1,000 per annum. The applicant must provide proof that he has a worldwide income in excess of Lm10,000 per annum or capital in excess of Lm150,000 and that he is able to import into Malta from overseas a minimum annual income of Lm6,000, plus Lm1,000 for each dependant. An appropriate letter/certificate from the applicant's banker or accountant will suffice. Within twelve months of obtaining the permit, the following conditions must be satisfied:

Either (a) The purchase of a flat in Malta worth at least Lm30,000;

or (b) The purchase of a house in Malta worth at least Lm50,000;

or (c) A property rented or leased for at least Lm1,800 per annum.