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Settling down in Malta has never been easier
Permanent residents are entitled to reside in Malta permanently, although such status does not involve an obligation to reside in Malta for any determinate number of days. A permanent resident may also request that the permit will also be applicable in respect of dependents. Dependents include children under 18 years of age, wife or husband as well as parents and grand-parents maintained by the applicant.
A non-Maltese resident acquiring permanent resident status under Section 7 of the Immigration Act must satisfy certain conditions, some of which are to be confirmed on an annual basis.
Malta does not charge income tax on the worldwide income, or income arising out of Malta and therefore permanent resident permit holders who are not domiciled or not ordinarily resident in Malta are only subject to tax on income remitted to Malta. Income remitted to Malta is charged to tax at the following rates:
Married Individuals Other Individuals
On the first Lm2,500 NIL On the first Lm1,800 - NIL
On the remainder 15% On the remainder - 15%
There is an overriding condition that the minimum tax payable in Malta per permanent resident is Lm1,000 for every fiscal year, or part thereof, in respect of which the individual is in possession of a permanent residence permit.
Importation of car and personal effects
Permanent residents enjoy certain exemptions from the payment of Customs Duties on the importation of a vehicle. Such exemption is also extended to personal and household effects, furniture and personal appliances which in the opinion of the Comptroller of Customs have been in use within that household by the importing person or his family.
How can Grant Thornton help?
We can assist you in handling your application for residence with the authorities. Moreover, you may appoint us to guide and remind you of your annual obligations and administer your affairs as you deem fit. Grant Thornton deals with such matters on a regular basis and can save you valuable time and effort
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