Question ID : 16
Created on 2006-09-27 at 10:04 AM
Author : George Farrugia [george@mgimalta.com]
Online URL : http://www.mgimalta.com/phpkb/question.php?ID=16
Any person can apply for a permanent residency status in Malta, acquire a home and live here for as long as one wishes provided he/she fulfills the conditions applicable. Malta actively promotes and welcomes citizens from all over the world to come and reside here.
The tax payable by any person whose living in Malta is subject to a permanent residency permit is 15% on:
• Income arising in Malta
• Income arising overseas and remitted to Malta
• Capital Gains arising in Malta
Malta has no inheritance tax, but on death of a permanent resident, his/her heirs will have to pay 5% stamp duty on any property inherited that is transferred onto their name.
Further information on this subject can be found in our article Foreign Residents in Malta