The document provides information on the Malta Global Residence Programme (GRP) and Malta Residence and Visa Programme (MRVP). The GRP is a tax program that provides substantial tax savings for non-EU/EEA/Swiss expatriates who purchase or rent a property in Malta. The MRVP allows third country nationals to obtain a residence permit by committing to a property purchase, investment, and fee. Both programs provide visa-free travel within Europe and do not preclude working in Malta with a permit. Eligible dependents can also be included.
The Portuguese Golden Visa provides free travel within the European Schengen area and the possibility to reside in Portugal. The beneficiaries of this Visa can also ensure that their family members obtain a fully valid residence permit in Portugal. Please take a look at RPBA’s infographic on the types of investment and requirements to obtain a Golden Visa in Portugal.
Real estate, as an immovable factor, tends to be overtaxed in most countries and Portugal is no exception. Tax structuring and optimizing is crucial to minimize total acquisition costs and maximize investment returns.
RPBA’s updated presentation deals with this challenging topic incorporating the latest developments, including tax incentives on rehabilitation, the OECD Multilateral Instrument rules on “real estate rich” companies and also the brand new SIGI company (the Portuguese equivalent of the REIT – Real Estate Investment Trust).
RPBA has updated its newsletter on the Portuguese Golden Visa regime. It provides a detailed overview of the relevant aspects of investing in Portugal through the purchase of real estate property, the acquisition of a business, money transfers and other means for the purpose of obtaining and renewing a residence permit.
The Portuguese Golden Visa provides free travel within the European Schengen area and the possibility to reside in Portugal. The beneficiaries of this Visa can also ensure that their family members obtain a fully valid residence permit in Portugal. Please take a look at RPBA’s infographic on the types of investment and requirements to obtain a Golden Visa in Portugal.
Real estate, as an immovable factor, tends to be overtaxed in most countries and Portugal is no exception. Tax structuring and optimizing is crucial to minimize total acquisition costs and maximize investment returns.
RPBA’s updated presentation deals with this challenging topic incorporating the latest developments, including tax incentives on rehabilitation, the OECD Multilateral Instrument rules on “real estate rich” companies and also the brand new SIGI company (the Portuguese equivalent of the REIT – Real Estate Investment Trust).
RPBA has updated its newsletter on the Portuguese Golden Visa regime. It provides a detailed overview of the relevant aspects of investing in Portugal through the purchase of real estate property, the acquisition of a business, money transfers and other means for the purpose of obtaining and renewing a residence permit.
Foreigners residing in Malta and interested in getting citizenship can receive legal guidance from our Maltese lawyers. More about the services offered can be found here: immigration-malta.lawyer.
The Portuguese Golden Residence Permit Program, which we refer to at Henley&Partners as PRIP–thePortugalResidence- by-Investment Program, is a five year investment-based residence process for non EU nationals. The residence permit allows free circulation in the Schengen Zone of 26 states and only requires an average of seven days per year stay in Portugal over this period, which can also count towards citizenship eligibility after six years.
The Portuguese non-habitual tax resident regime is granted to individuals who become resident for tax purposes in Portugal. This regime may grant an exemption on certain foreign source income as well as a 20% tax rate on employment and self-employment income deriving from high value added activities during 10 years. It targets non-resident individuals who are likely to establish residence in Portugal. View a few standard case studies on this RPBA’s infographic.
Cyprus is a small state island, which is divided into two parts (North and South). This article is in regards to only the southern part, which is the more developed.
Cyprus has many interesting and wonderful aspects: nature, history, culture, way of life and much more. It is hard to imagine how many charms such a small piece of land can have.
The country is in the European Union, and with all the wonderful aspects mentioned before it is no surprise that tourism in Cyprus is a huge industry and is actual one of the main sources of income. A large percentage of the tourist population consists of Russian-speaking and UK residents.
In the last few challenging months we have received inquiries or demands relating to Clients concerned with their succession planning.
Please note that wills are considered an important and urgent act that Portuguese notaries, according to our experience, are still performing in spite of all Covid 19 restriction measures.
We would like to highlight the key topics on this subject:
Tax
- Inheritance and gifts are subject to Stamp Tax in Portugal. However, inheritance and gifts between close family (spouses, living partners, children, grandchildren, parents and grandparents) are exempt and assets outside Portugal are not even territoriality liable to Stamp Tax. Only in the case of gifts of Portuguese real estate between close family is there a 0,8% tax on its taxable value. Even when tax is due on the Portuguese assets (between siblings, cousins, uncle and nephew, etc.) it is so at a low rate – 10% in the case of an inheritance / 10% plus 0,8% in the case of a gift of Portuguese real estate is concerned.
Legal
- By default Portuguese inheritance law applies to Portuguese residents, irrespective of the place where they decease. However, it is possible to voluntarily opt-out from this rule and choose the law of ones’ nationality to govern one’s succession.
RPBA’s Information Note below may be of interest to you concerning the choice of law governing succession in case of death. It provides you a quick overview of the applicable rules as well as your options as a resident of Portugal. Although this is not a tax issue there may be tax implications of the law chosen to govern your succession. For instance, in a case where a person that has recently left his State of nationality and became a Portuguese resident dies, choosing the law of his/her nationality to govern his/her succession may be an indication of subjective attachment to that prior State, which may be viewed as relevant for inheritance tax purposes in some jurisdictions.
We have the know-how to assist and support our private clients on this matter. Partition of assets during one’s lifetime, wills, life insurance with or without death coverage, family foundations and trusts are the main instruments that can be used.
In case you would like to discuss the details of your specific specific situation please contact your usual RPBA lawyer or: ana.isabel@rpba.pt
Special Tax Regime for non-habitual residents in PortugalUWU Solutions, Lda.
Portugal created a special regime for new residents (also applicable to Portuguese out bounds living abroad for many years) designed to promote the transfer of residence of skillful professionals, entrepreneurs and investors, by offering attractive tax opportunities at the individual level.
This summary provides a brief overview and explains the main guidelines and potential implications of this new regime for foreigners and for Portuguese individuals settling in Portugal after an extended period of living abroad.
Трансфертное ценообразование в Украине: практика 2016Eugene Tkachenko
Сергей Гонтаровский (Аудиторская фирма «Триада», Украина)
Семинар: «Ведение международного бизнеса: компании, счета и налоги»
23 Марта, г. Одесса, отель Gagarinn
Foreigners residing in Malta and interested in getting citizenship can receive legal guidance from our Maltese lawyers. More about the services offered can be found here: immigration-malta.lawyer.
The Portuguese Golden Residence Permit Program, which we refer to at Henley&Partners as PRIP–thePortugalResidence- by-Investment Program, is a five year investment-based residence process for non EU nationals. The residence permit allows free circulation in the Schengen Zone of 26 states and only requires an average of seven days per year stay in Portugal over this period, which can also count towards citizenship eligibility after six years.
The Portuguese non-habitual tax resident regime is granted to individuals who become resident for tax purposes in Portugal. This regime may grant an exemption on certain foreign source income as well as a 20% tax rate on employment and self-employment income deriving from high value added activities during 10 years. It targets non-resident individuals who are likely to establish residence in Portugal. View a few standard case studies on this RPBA’s infographic.
Cyprus is a small state island, which is divided into two parts (North and South). This article is in regards to only the southern part, which is the more developed.
Cyprus has many interesting and wonderful aspects: nature, history, culture, way of life and much more. It is hard to imagine how many charms such a small piece of land can have.
The country is in the European Union, and with all the wonderful aspects mentioned before it is no surprise that tourism in Cyprus is a huge industry and is actual one of the main sources of income. A large percentage of the tourist population consists of Russian-speaking and UK residents.
In the last few challenging months we have received inquiries or demands relating to Clients concerned with their succession planning.
Please note that wills are considered an important and urgent act that Portuguese notaries, according to our experience, are still performing in spite of all Covid 19 restriction measures.
We would like to highlight the key topics on this subject:
Tax
- Inheritance and gifts are subject to Stamp Tax in Portugal. However, inheritance and gifts between close family (spouses, living partners, children, grandchildren, parents and grandparents) are exempt and assets outside Portugal are not even territoriality liable to Stamp Tax. Only in the case of gifts of Portuguese real estate between close family is there a 0,8% tax on its taxable value. Even when tax is due on the Portuguese assets (between siblings, cousins, uncle and nephew, etc.) it is so at a low rate – 10% in the case of an inheritance / 10% plus 0,8% in the case of a gift of Portuguese real estate is concerned.
Legal
- By default Portuguese inheritance law applies to Portuguese residents, irrespective of the place where they decease. However, it is possible to voluntarily opt-out from this rule and choose the law of ones’ nationality to govern one’s succession.
RPBA’s Information Note below may be of interest to you concerning the choice of law governing succession in case of death. It provides you a quick overview of the applicable rules as well as your options as a resident of Portugal. Although this is not a tax issue there may be tax implications of the law chosen to govern your succession. For instance, in a case where a person that has recently left his State of nationality and became a Portuguese resident dies, choosing the law of his/her nationality to govern his/her succession may be an indication of subjective attachment to that prior State, which may be viewed as relevant for inheritance tax purposes in some jurisdictions.
We have the know-how to assist and support our private clients on this matter. Partition of assets during one’s lifetime, wills, life insurance with or without death coverage, family foundations and trusts are the main instruments that can be used.
In case you would like to discuss the details of your specific specific situation please contact your usual RPBA lawyer or: ana.isabel@rpba.pt
Special Tax Regime for non-habitual residents in PortugalUWU Solutions, Lda.
Portugal created a special regime for new residents (also applicable to Portuguese out bounds living abroad for many years) designed to promote the transfer of residence of skillful professionals, entrepreneurs and investors, by offering attractive tax opportunities at the individual level.
This summary provides a brief overview and explains the main guidelines and potential implications of this new regime for foreigners and for Portuguese individuals settling in Portugal after an extended period of living abroad.
Трансфертное ценообразование в Украине: практика 2016Eugene Tkachenko
Сергей Гонтаровский (Аудиторская фирма «Триада», Украина)
Семинар: «Ведение международного бизнеса: компании, счета и налоги»
23 Марта, г. Одесса, отель Gagarinn
Использование нерезидентных компаний украинским бизнесомEugene Tkachenko
Панама: финансовая отчетность уже не миф.
Шотландские партнерства под прицелом?
Грузия: эстонская модель налогообложения с 2017 г.
Ирина Воеводина (Interlegal, Украина)
Семинар: «Ведение международного бизнеса: компании, счета и налоги»
23 Марта, г. Одесса, отель Gagarinn
Международные платежи и регулирование в современной банковской системеEugene Tkachenko
Андрей Дресвянников on behalf of Сергей Лесик (Silk Road Bank, Македония)
Семинар: «Ведение международного бизнеса: компании, счета и налоги»
23 Марта, г. Одесса, отель Gagarinn
Want to be seen as a leader at the office? Learn how to identify and push back against gender bias by supporting your female colleagues at work. Read the full tips at leanin.org/tips/mvp
Unlock Global Citizenship: Malta Citizenship with Riftrust | LatitudeWorldBellaKites
Explore the opportunity to obtain Maltese citizenship through Riftrust with LatitudeWorld. Gain access to a wealth of benefits, including visa-free travel to over 180 countries, a stable political environment, and favorable tax incentives. Discover a seamless pathway to European citizenship with expert guidance and support from Riftrust and LatitudeWorld.
Malta Citizenship: Prestige and Opportunity with RIF TrustBellaKites
Discover the prestigious Malta Citizenship Program with RIF Trust. Gain access to European Union citizenship, allowing you to live, work, and study anywhere in the EU. RIF Trust offers expert guidance throughout the process, ensuring a smooth journey towards obtaining Maltese citizenship. Unlock a world of opportunities and elevate your global status with Malta citizenship through RIF Trust.
European countries citizenship and permanent residency through investment imm...Xiphias Immigration
The European continent offers a wide assortment of alternatives to investors and entrepreneurs who are keen on a second home/residence or citizenship. Contingent upon the nation and investment type, investors can hope to get transitory/temporary residence, permanent residence or even citizenship in return for their speculation/investment. What makes the European nations especially alluring in the speculation/investment movement showcase is the portability that European living arrangement and citizenship offer. As a result of principles and understandings between European nations, a living arrangement in any of the European nations with speculation/investment migration programs opens the way to visa-free travel all through most or all of Europe. Moreover, the individuals who obtain citizenship in a European Union part nation, either straightforwardly through their venture/investment or through permanent residency as a venturing stone, will be concurred the capacity to live and work anyplace in the European Union.
Guide for a successful establishment in Spain from ChinaAGM Abogados
Practical guide for all those Chinese companies that would like to establish in Spain:
•Major Corporate Structures.
•Example of a Process Type.
•Regulation regarding Subsidiaries.
•Main Taxes.
•Double Taxation.
•Workplace.
•Helps to attract investments.
•Residence in Spain.
•Other aspects to consider.
•Obtaining NIE (Foreigner Identity Number).
De Micco & Friends Lawyers & Auditors are meanwhile represented with their lawyers, tax consultants, finance and real estate experts in all major cities in Europe. The Spanish Group's headquarters are in Palma de Mallorca. As a client of De Micco & Friends, you will receive local and international legal and tax advice from a network of 300 lawyers and tax consultants providing the best quality at very good conditions.
Take a look at our following overview about the process of immigration to Europe.
Citizenship by Investment Supplement on Malta providing an overview of the Malta Citizenship by Investment Programme. Provided by Malta Law Firm Chetcuti Cauchi Advocates.
Similar to Программы вида на жительство на Мальте (20)
Шотландские партнерства популярный на сегодня инструмент.
1. Преимущества всегда были = отсутствие отчетности при соблюдении определенных условий = неосуществление деятельности на терр. Великобритании
2. Не подпадали под требование подавать информацию в реестр бенефициаров (котролирующих лиц), под которые подпадали другие компании Великобритании.
Но, появились первые звоночки...
Explore our most comprehensive guide on lookback analysis at SafePaaS, covering access governance and how it can transform modern ERP audits. Browse now!
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
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Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
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Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Improving profitability for small businessBen Wann
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Putting the SPARK into Virtual Training.pptxCynthia Clay
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Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...Kumar Satyam
According to TechSci Research report, “India Orthopedic Devices Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030”, the India Orthopedic Devices Market stood at USD 1,280.54 Million in 2024 and is anticipated to grow with a CAGR of 7.84% in the forecast period, 2026-2030F. The India Orthopedic Devices Market is being driven by several factors. The most prominent ones include an increase in the elderly population, who are more prone to orthopedic conditions such as osteoporosis and arthritis. Moreover, the rise in sports injuries and road accidents are also contributing to the demand for orthopedic devices. Advances in technology and the introduction of innovative implants and prosthetics have further propelled the market growth. Additionally, government initiatives aimed at improving healthcare infrastructure and the increasing prevalence of lifestyle diseases have led to an upward trend in orthopedic surgeries, thereby fueling the market demand for these devices.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
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Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
3. Global Residence Programme
Programme intended to attract expatriates (non EU, non EEA or
non Swiss) who are not long term residents of Malta AND who are
seeking to establish an alternative residence base in the European
Union.
Essentially a Tax Programme administered by the Maltese
International Tax Unit (the “ITU”) in terms of which a Beneficiary
can benefit from substantial tax saving opportunities.
Programme does not preclude Beneficiaries from working in Malta
provided they obtain a work permit.
3
4. Malta Residence Programmes
Options
Ordinary Residence
Business Immigration
Malta Residence and Visa Programme
The Global Residence Programme
The Residence Programme
United Nations Pensions Programme
Malta Retirement Programme
Qualifying Employment in Innovation and Creativity (Personal Tax)
Rules
Highly Qualified Persons Rules
4
5. Eligibility Criteria
1. Individual Applicants - excluding EU, Iceland, Norway,
Liechtenstein and Swiss nationals
2. Dependant Family Members and Household Staff may also be
included within the Application (provided they reside with the
Beneficiary in the Qualifying Property).
NOTE
►Applicants having dual nationality one of which is EU, EEA or
Swiss are not eligible under the Programme
►Beneficiaries under any of the other Malta residence
programmes are also excluded.
5
6. Eligible Dependants
Eligible Dependants may be included in the same GRP Application:
- Spouse / Partner in a stable relationship
- any Minor Child of the Applicant or of his Spouse / Partner,
including an adopted child
- any Adult Child of the Applicant or of his Spouse / Partner
(18 – 25 years of age and economically inactive)
- any Adult Child of the Applicant or of his Spouse / Partner
unable to maintain himself owing to serious illness or disability
- any Dependant Brothers, Sisters, Parents or Grand Parent of the
Applicant or of his Spouse / Partner
6
7. Athorised Registered Mandatory
Applicants must be introduced to the ITU and represented
throughout the application process by an Authorised Registered
Mandatory (“ARM”)
Continued representation by the ARM at all times during the
Beneficiary’s participation under the Programme
Dingli & Dingli Law Firm – recognised as an Authorised Registered
Mandatory
7
8. Conditions
1. ►Own or Rent a Qualifying property
Value of property depends on location thereof in the Maltese
islands
In case of purchase, minimum value in range € 220,000 − € 275,000
In case of rent, minimum rental in range €8,750 - €9,600 per annum
Property already in ownership/ rent of Applicant can be used
Property may not be let or sub-let to third parties
Property to be occupied as principal place of residence worldwide
(Primary Residence)
Property to be used exclusively by applicant, his dependants and
any household staff
12 months from date of ‘Letter of Intent’ by the Authority for
condition of the Qualifying Property to be fulfilled.
8
9. Conditions (contd.)
2. ►Be economically self- sufficient with stable and regular
resources
3. ►Possess a valid travel document
4. ►Possess worldwide health insurance cover (€50,000 per
person)
5. ►Ability to Communicate in English or Maltese
6. ►Is fit and proper
Administrative Fee (non-refundable) of €6,000 / €5,500 (if
Applicant already owns property in the South of Malta)
9
10. Submission of GRP Application
Forms and Documents (fully complete and in the required format)
Administrative Fee paid
Forms :
(1) Application for Special Tax Status Global Residency Programme.
► this includes the authorisation of Authorised Registered Mandatory
(2) Questionnaire in Connection with Global Residency Programme
Supporting Documents
Original Supporting Documents (except where certified true copies of
originals are permissible) + authenticated English translations
Examples : Birth / Marriage / Police Conduct Certificates; Bank Statements etc.
Certified copies of documents and authenticated translations need to
be legalised by Apostille (Hague Convention 1961) unless done in
Malta
10
11. Indicative Time Line (in Weeks)11
Submission of Application Forms and Documents to ITU
ITU issues Acknowledgement Letter and commences Due
Diligence
ITU invites Applicant for an Interview in Malta
Letter of Intent / Notice of Primary Residence issued
Qualifying Property secured / Notice of Primary
Residence submitted (Tax Reg. No. issued)
Payment of initial minimum Income Tax of €15,000
Letter of Confirmation of Special Tax Status issued
1
2
6
8
10
12
7
12. Malta Residency Cards
(Economic Self Sufficiency)
Malta E-Residency Cards may be obtained by the Beneficiary and
his Dependants on grounds of economic self-sufficiency
Application is made to Identity Malta
Charge of €55 per applicant
Capture of Biometric Data of Beneficiary and Dependants
E-Residency Cards issued within 6 weeks
E-Residency Cards must be collected in person
E-Residency Cards are issued for a validity of 2 years
12
13. Malta Residency Cards
- Requirements
Requirements :
1 Letter to Identity Malta by the ARM giving reasons for application
2 Completion of relevant Application Forms (Form K / Form ID-1A)
3 Copy Letter of Confirmation of Special Tax Status
4 Copy of Passport
5 Recent Bank Statements (proof of financial means)
6 Evidence of Comprehensive Worldwide Health Insurance (€50,000
minimum)
7 Copy of Residential Lease Agreement
8 Copies of Birth and Marriage Certificates
13
15. Global Residence Programme –
Tax Treatment
As Resident Non-Domiciled individuals, beneficiaries would be subject to:
Tax on Malta source income & foreign source income received in Malta,
Foreign source Capital Gains are exempt even if received in Malta.
Special Tax Status
Flat rate of 15% on foreign source income received in Malta,
Minimum tax of €15,000 per annum
Double Tax Relief available but subject to minimum tax payment.
35% rate on Malta source income:
Such as over bank interest (MT bank account) and dividends (MT company)
15
16. Global Residence Programme –
Continued obligations
Status holders not required to give count of actual physical presence in Malta
but must ensure not to spend 183 days or more in any 1 other country;
Annually file Income Tax Return + effect payment of Income Tax
Annual Declaration to be submitted
Continued fulfilment of the eligibility criteria;
Not cause threats to :-
Public safety,
Protection of public order,
National security,
Territorial integrity,
Public health or morals.
16
17. Global Residence Programme –
The Benefits
17
Fast
process –
completed
in weeks
Remittance
basis of
taxation +
special tax
rate
No
minimum
presence
required in
Malta
Freedom of
movement
within the
Schengen
Area
Can include
family
members +
domestic
staff
18. MALTA RESIDENCE AND VISA PROGRAMME
(“MRVP”)
- Dr. Kevin F. Dingli
Managing Partner
Dingli & Dingli Law Firm
18
19. Malta Residence and Visa
Programme (“MRVP”)
Programme established by Regulations made under the
Immigration Act in 2015 (Legal Notice 288/2015)
Leads to the acquisition of a permit to reside, settle or stay
indefinitely in Malta
Identity Malta is the Government Agency responsible for the
administration of the Programme
Applications are introduced to Identity Malta by Registered
Accredited Persons (“RAPs”)
English is the language of the Programme
19
20. Malta Residence and Visa
Programme (“MRVP”)
Programme intended to fill a gap in the various residency and
citizenship programmes already available
Applies to third country nationals (non EU, non EEA or non Swiss
citizens) (nationals of Afghanistan and North Korea are excluded)
Not a tax programme
Programme does not preclude beneficiaries from working in Malta
provided they obtain a work permit
20
21. Malta Residence and Visa
Programme
Programme centres around a Main Applicant and his Eligible Dependants
Residence Certificate issued once the established Conditions are satisfied
Certificate Entitles the Beneficiary and his Dependants to reside, settle or
stay indefinitely in Malta
Residence Card also issued (valid for 5 years)(renewable)
Beneficiary not entitled to any other rights mentioned in the Immigration
Regulations
21
22. Main Applicant
The MRVP is focussed on the Main Applicant (‘Head of the
Family’), who must have the following qualifications :
be at least 18 years of age
meet the application requirements
commit himself to provide proof of title to a Qualifying
Property
commit himself to invest in a Qualifying Investment
commit himself to pay the Contribution
22
23. Eligible Dependants
Eligible Dependants may be included in the same MRVP
Application :
- Spouse / Partner of the Main Applicant
- any Minor Child of the Main Applicant or of his Spouse (less than
18 years of age), including an adopted child
- any Unmarried Adult Dependant Child of the Main Applicant or
of his Spouse (18 – 26 years of age)
- any medically certified Disabled Adult Child of the Main
Applicant or his spouse
- any Dependant Parent or Grand Parent of the Main Applicant or
of his Spouse
23
24. Appointment of Registered
Accredited Person
Applications are introduced to Identity Malta by a
Registered Accredited Person (“RAP”)
RAP acts as the Main Applicant’s Representative on all
applications, correspondence and dealings with Identity
Malta
The Main Applicant issues a Power of Attorney in favour of
the RAP (and sometimes also enters into a Letter of
Engagement with the RAP)
RAP completes and submits an Official Compliance Form
(Form “MRVP5”) annually for first 5 years, and subsequently
once every 5 years (also signed by Beneficiary)
RAP processes Residency Card renewal requests with
Identity Malta
24
25. Proof of Assets or Income
• Capital Assets
Requirement€500,000
• OR Annual Income
Requirement (alternative)€100,000
25
26. MVRP in a Nutshell
Application Forms + Documents +
Administrative Fee
Due Diligence Phase
Property + Investment + Contribution +
Comprehensive Health Cover
Compliance with Ongoing Obligations
26
27. Submission of MVRP Application
Forms + Documents (fully complete and in the required format)
On acceptance for processing Identity Malta issues Invoice for
Administrative Fee
Forms (1) Application Forms : MRVP1 for Main Applicant (to be
sworn/affirmed before a Commissioner for Oaths and apostilled)
MRVP4 for Dependants; (2) Administrative Forms : (i) Form MRVP2
(Personal Details, and Source of Funds and Wealth for Main
Applicant), MRVP3 (Medical Report) and MRVP6 (Clearance Form)
Original Supporting Documents (except where certified true
copies of originals are permissible) + authenticated English
translations
Examples : Birth / Marriage / Police Conduct Certificates; Bank
Statements etc.
Certified copies of documents and authenticated translations
need to be legalised by Apostille (Hague Convention 1961) unless
done in Malta
27
29. Letter of Approval in Principle
Conditions
to be
satisfied
Letter of
Approval in
Principle
Due
Diligence
Phase
29
30. Qualifying Property
Purchase of Residential Property at
minimum consideration €320,000
or Lease of Residential Property at
minimum annual rent of €12,000
to be held for a minimum of 5 years
from date of Certificate
30
31. Qualifying Investment
In the form of Malta Government
Stocks
Having an initial market value of
€250,000
To be held for a minimum period of
5 years from date of Certificate
31
34. Indicative Timeline (months)
1
• Submission of Application and Supporting Documents to Identity
Malta (including initial vetting of Application Pack by Identity Malta)
4
• Completion of Due Diligence Phase by Identity Malta – Letter of
Approval in Principle issued
5
• Payment of Contribution, satisfaction of Property and Investment
requirements and Comprehensive Global Health Cover
34
35. Indicative Timeline
6
• Issuance of Residency Certificate / Letter of Invitation
6
• Visit to Malta for Biometric Data to be captured
6
• Issuance of E-Residence Cards to Main Applicant and Dependants
• (within 3 – 5 working days of capture of biometric data)
35
36. Ongoing Obligations
The Beneficiary is obliged to continue to meet the
Conditions imposed by the Regulations
In particular the Beneficiary is to have left Malta either for
6 consecutive months or for 10 months cumulative in a 4
year period
Failure to do so could lead to the revocation of the
Certificate
36
37. Revocation of Certificate
If the Beneficiary becomes a Maltese, EEA or Swiss
national
If the Beneficiary becomes a Long-Term Resident in Malta
If the Beneficiary ceases to satisfy the Investment and
Property requirements or any other conditions laid down
If the Beneficiary’s continued stay in Malta is not in the
Public Interest
37
38. Personal Income Tax Considerations
The MVRP is not a tax programme
The MVRP does not require a Beneficiary to become tax resident
in Malta
Once obtainted, the Certificate does not itself imply tax
residency in Malta
A person only becomes tax resident in Malta if he physically
spends 183 days + in Malta during any fiscal year (“Ordinary
Residence”)
A Person who is Ordinarily Resident in Malta becomes liable to
personal tax in Malta on income earned in Malta and/or remitted to
Malta (Ordinary Tax Rates apply)
A Person who is both Ordinarily Resident and Domiciled in Malta
becomes liable to personal tax in Malta in respect of his
worldwide income
38
40. вопросы?
Dr. Kevin F. Dingli Dr. Veronica Delicata
kevin@dingli.com.mt veronica@dingli.com.mt
Editor's Notes
In an application, the Main applicant can also include his spouse, financially dependent ascendants and other non-family members as well as dependent relatives that are members of the household.
Children under the age of 25 are automatically eligible for inclusion. Over 25, only if still financially dependant.
Dual citizenship holders who hold citizenship in any of the excluded countries are precluded from applying under this programme.
This exclusion would apply unless benefits under any of these programmes are renounced prior to submitting an application under this programme.
In case of rent, lease must not be for less than 12 months.
4. Evidence of financial resources to be included in application- copy of recent bank statements
6. Insurance cover for applicant and any dependants included in the application. Policy required to cover all risks across the EU normally covered for Maltese nationals – advised minimum annual cover of €50,000 per annum.
7. Before issuing the Letter of Intent, the ITU would request a meeting with the main applicant where he would need to demonstrate that he is able to communicate at least in English.
8. Not fit in terms of physique but in the sense of a person of good conduct and repute. Criteria of assessment outlined in the rules.
In fact, a recent police conduct certificate would need to be presented for all the main applicant and any adult dependants (18 and over) in the application. They must also present a sworn affidavit confirming that they are not subject to any ongoing civil or criminal proceedings. If involved in such proceedings – details to be given.
Source & Remittance basis of taxation
In an application, the Main applicant can also include his spouse, financially dependent ascendants and other non-family members as well as dependent relatives that are members of the household.
Children under the age of 25 are automatically eligible for inclusion. Over 25, only if still financially dependant.
In an application, the Main applicant can also include his spouse, financially dependent ascendants and other non-family members as well as dependent relatives that are members of the household.
Children under the age of 25 are automatically eligible for inclusion. Over 25, only if still financially dependant.