Saturday, 18 February 2012

Minimum stay requirement removed from new HNWI Residence Schemes

Minimum stay requirement removed.
Worthy of note is that Malta recently removed its minimum tax liability for its Residence Schemes for EU and non-EU nationals.  Under the original text of the relevant tax regulations, a residence permit holder was obliged to prove, at the end of each year of residence in Malta, that he or she had resided for at least 90 days in Malta.

After the recent amendments, the 90-day minimum stay rule has been removed. This is good news for a number of families that have been discouraged by the practical inflexibiilty this rule entailed.

Overview of Amendments to Malta Personal Tax Residence Rules



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1 comment:

  1. The news is most welcome. The makes the scheme more practical. thanks for the update!

    ReplyDelete

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