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Entities in Malta, including companies, partnerships, foundations, trusts and associations, have an obligation to disclose the ultimate beneficial owner/s (physical person) of the entities. A beneficial owner is defined as the individual (s) who ultimately owns or controls a legal entity or arrangement through direct or indirect ownership of a sufficient percentage of the shares or voting rights or ownership interest in that entity.

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With its balmy Mediterranean climate and favourable business environment, Malta is the ideal place to relocate your family and/or your business.

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Citizenship by naturalisation
The Maltese Citizenship Act (Cap 188) establishes who may become a citizen of Malta by naturalisation, provided that the applicant satisfies the relative provisions.
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With the continuously changing global dynamics and evolving geopolitics, there is an ever-growing number of highly-talented high-net-worth individuals who are willing to invest and relocate to give themselves and their family members the chance to broaden their horizons and become part of a welcoming community.
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The Maltese Citizenship Act (Cap 188) establishes who can register as a citizens of Malta. The Act was amended on 1st August 2007, this making it possible for second and subsequent generations born abroad to acquire Maltese citizenship by registration.

Family businesses

Our business solutions for family businesses center on alignment of all aspects of the family and business, including culture, vision, mission, values,...

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Maltese Family Businesses Resource Centre
For over 30 years Grant Thornton’s advisory teams have assisted family businesses in navigating the challenges of leadership and succession across generations
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Preparing the next generation for leadership and ownership is an integral part of any succession process. Grant Thornton can help formulate the necessary grooming plan for all the potential successors.
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Using a combination of reason and instinct, we can work with clients to develop a strategy that helps them understand and manage their tax liability in a transparent and ethical way.
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Like all companies, family businesses need finance. As an ongoing business concern looking at expanding, when it comes to raising capital, it’s important that this is done wisely to minimise the risk of collateral damage.
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Having a proper governance structure is essential to ensure that the family and business strategies are achieved. Grant Thornton can advise on this, and facilitate the implementation of the ideal governance structure based on the exact scenario.
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Letting go of your family business is difficult for all owners and even more so for founders; however, in a family business the additional challenge presented by the family component increases the complexity of this process. Our team of family business advisors will ensure that such ownership issues are dealt with in an effective and structured approach.
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There are many 'exit strategies' that need to be considered to minimise the risk of conflict. They can arise from the eventual exit of a family member from the ownership ranks and can have many causes. See how we can help.
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By implementing our family business guidelines to family succession and a proper governance structure, the management succession process can be completed with minimal conflict and will result in the most competent successor being chosen.

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Firms within the financial sector face a critical imperative to fortify their operational resilience in the digital sphere, particularly with the advent of the Digital Operational Resilience Act (DORA), set to take effect by January 2025.
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Medical cannabis licensing in Malta
A study published in 2018 by market intelligence and strategic consultancy firm Prohibition Partners, has forecasted that the European cannabis market will be valued €115.7 billion by 2028. According to the same study, while patient numbers are currently below 100,000 across the region, their number is set to grow to over 30 million in the next decade. In 2018 Malta introduced a bill to legalise the use of medical marijuana and attract companies willing to produce high-grade medical cannabis for the European market.
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Residence and Citizenship

Grant Thornton is authorised and regulated by the Government of Malta to handle and submit applications for both citizenship applications as well as residence...

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Programmes
Grant Thornton is authorised and regulated by the Government of Malta to handle and submit applications for both citizenship applications as well as residence permits under the various residence programmes available in terms of Maltese law.
Ordinary residency in Malta
Any EU, EEA or third country national who resides in Malta for more than 3 months is obliged to apply for a Residence Permit. There are various grounds upon which an applicant may apply to require a residence permit, including: Self-Sufficiency, Employment or Self-Employment, Family Members, Permanent Residence, Study Purposes.
Qualifying Employment in Aviation Rule
Malta provides qualified persons employed in the field of aviation with an opportunity to enjoy a 15% flat personal tax rate on income generated from their direct employment in Malta. For a candidate to qualify, their annual income must exceed €45,000. This does not include the value of fringe benefits and applies to the derived income received from an eligible office.
Qualifying Employment in Innovation and Creativity (Personal Tax) (Amendment) Rules, 2019
These Rules allows persons employed in a role directly engaged in carrying out, or management of research, development, design, analytical or innovation activities, to enjoy a 15% flat personal tax rate on income generated from their direct employment in Malta.
Qualifying Employment in Maritime and Offshore Oil & Gas Industry Rule
Malta provides qualified persons employed in the field of aviation, with an opportunity to enjoy a 15% flat personal tax rate on income generated from their direct employment in Malta.
Nomad Residence Permit
The NOMAD residence permit, which was launched in June 2021, allows third-country nationals who would normally require a Visa to travel to Malta, to retain their current employment based in another country whilst legally residing on the island.

Related insights:

RESIDENCY Applying for residence in Malta

Any EU, EEA or third country national who resides in Malta for more than 3 months is obliged to apply for a Residence Permit. There are various grounds upon which an applicant may apply to require a residence permit

01 Oct 2019

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2018 Amendments of the Income Tax Act
The following is a brief overview of the new tax provisions introduced in 2018 by the Budget Implementation Act (Act VII of 2018) and other legislative enactments

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Mergers and acquisitions
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ESEF Reporting
Our ESEF reporting service is tailored to assist listed companies in complying with the European Single Electronic Format (ESEF) requirements. As of 2020, ESEF is mandated for annual financial reports of issuers with securities listed on regulated markets. We provide services for mapping the taxonomy and generating audit/regulator-ready xHTML reports.
EU funding
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Prospects MTF
As of 2016, small and medium-sized enterprises in Malta can access the capital markets through Prospects - a market of the Malta Stock Exchange (MSE) designed specifically for Small and Medium sized Enterprises (SME). Prospects offers a cost-effective opportunity for entities looking to raise up to €5 million per issue.
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Investment Support
The government of Malta has made available several incentive programmes, aimed at supporting Maltese SMEs and start-ups. These support schemes are targeted at different stages of a company’s lifecycle and cover from the start-up to the consolidation and expansion phases. Such incentives are usually promoted and managed by Malta Enterprise, while Trade Malta focuses on supporting businesses to penetrate foreign markets.

Industries

Transport Services

Due to the breadth of expertise available, Grant Thornton can provide players in three main sectors of the transport industry; these being Maritime, Aviation,...

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Aviation
The Maltese Government is constantly remaining to improve the position as the best place to do business within the aviation industry through exhaustive tax agreements, powerful legislation, and many aviation professionals. This is the best time for airlines, financiers and aircraft owners to be located in Malta.
Maritime
For Maritime, Grant Thornton provide direction with regards to VAT guidelines for yacht leasing, as well as ship and aircraft registration.
Automotive
We offer a broad range of services relating to automotive, ranging from Transaction advisory, access to finance, business advisory, process and inventory management, tax advisory, audit and advisory, outsourced support services.

Consumer goods

The industry is emerging at a very fast rate. Consumers are building the industry by demanding lower prices and findings new ways to buy food and drinks,...

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Fintech and Innovation

At Grant Thornton we help innovative firms and entities operating in the fintech space launch new propositions and grow their business. We also help...

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Blockchain technology
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The Malta Virtual Financial Assets Act
The Virtual Financial Assets Act provides a sound legislative framework for Malta to regulate and responsibly promote the use of cryptocurrencies, crypto-exchanges and other crypto-related services, through which Malta aims to promote further technological innovations and growth, and continue building on its robust financial services industry.
Our role as a VFA agent
Our role as a VFA agent consists to assist, monitor and provide guidance throughout the full licensing process, and beyond the licensing stage. The VFA agent will be required to apply for the VFA license on behalf of the issuer.
Initial Coin Offerings
Initial Coin Offerings (ICOs) in Malta have risen to prominence as a method to raise capital from the public, institutions or venture capitalists by selling a percentage of cryptocurrency to investors in the form of tokens in exchange for legal tender (smart contracts).

Public sector

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iGaming

With a sound jurisdiction that steers clear of bureaucracy and that has a proven track record, the iGaming industry in Malta is continuing to build on its...

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Gaming Regulations
Malta recently overhauled the framework regulating the iGaming sector. Going forward operators will still be required to obtain authorisation to carry out regulated activities.
Licensing Process
Prior to submission all applicants are advised to go through a pre-application process with one of the MGA’s Licensing Officers. This will ensure that the application has been correctly compiled and all the key ingredients are present.

Startups

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Real estate

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Malta Real Estate Investment Trust (REIT)
As part of the 2019 budget, the government has pledged to introduce a Real Estate Investment Trust (REIT) framework in Malta.

Hospitality & tourism

The hospitality and leisure industry is going through a period of extraordinary, inevitable change and will look very different in 2020 than it does today. On...

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Healthcare

Healthcare is a swiftly changing sector. Providers and commissioners of healthcare encounter the challenges of rising public expectations, an ageing...

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Financial services

Financial services businesses engage in an increasingly complex and heavily regulated environment. Grant Thornton's multi-disciplinary Financial Services Group...

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The Markets in Financial Instruments Directive (MiFID) II
MiFID II aims to protect investors and make sure that financial markets operate in the fairest and most transparent way possible. Building on stock and investment trading regulation introduced in 2007 it sets to ensure a more integrated financial market.

Collective Investment Schemes

At Grant Thornton we help innovative firms and entities operating in the fintech space launch new propositions and grow their business. We also help...

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Taxation of Malta Collective Investment Schemes
Malta-registered collective investment schemes (CISs) are generally not subject to Malta tax. Given that CIS are properly structured, such schemes generally can take advantage of a number of tax benefits. When it comes to taxation of investors in collective investment schemes, this will depend on what type of income is being received, whether the investor is a Malta resident or not, and if the shareholder is an individual or a body-corporate?

The Nomad Residence Permit, which was launched in June 2021, allows third-country nationals who would normally require a Visa to travel to Malta, to retain their current employment based in another country whilst legally residing on the island.

Malta has become quite popular with expats working in the igaming and software industries and aims at further consolidating its reputation with this population cluster.

The duration of the permit is one year, renewable at the discretion of Residency Malta, as long as the applicant still meets the set eligibility criteria.

Eligibility

In order to be eligible for the nomad residence permit, applicants must be third country nationals and prove they can work remotely.

Applicants must also prove they fall under any one of the following categories:

Being in possession of a work contract issued by an employer registered in a foreign country
Bonduct business activities for a company registered in a foreign country and of which applicant is partner/shareholder; or
Offer freelance or consulting services, mostly to clients whose permanent establishments are in a foreign country, and with whom the applicant has contracts;
Reach a gross monthly income threshold of €2,700;
Hold a valid travel document;
Have health insurance covering risks in Malta;
Be in possession of a valid property rental or purchase agreement; and
Pass a background verification check.

Standard rules and procedures for obtaining visas and similar permits apply, in addition to the proof of eligibility, while Covid-19 travel restrictions may apply.

Further information may be obtained from the Residency Malta website at https://residencymalta.gov.mt/

Our immigration services

Embarking on the Nomad Residence Programme in Malta? Let us be your guide in making this journey seamless and tax-efficient. Our advisory services are designed to ensure you maximize the benefits of this unique opportunity.

How We Can Help

Strategic Compliance: Navigate the intricate 'Nomad Residence Permits (Income Tax) Rules 2023' with confidence. Our experts will guide you through the application process, ensuring compliance and minimizing paperwork hassles.

Tax Planning: Leverage our expertise to strategically plan your tax obligations. We'll help you understand the nuances of the 12-month income tax exemption and the subsequent reduced 10% tax rate, ensuring optimal financial management.

Remote Work Optimization: Tailor your 'authorised work' to meet the programme's criteria. Whether you're engaged with a non-resident employer or providing services through telecommunications technology, we'll help structure your work for maximum benefit.

Financial Reporting: Simplify your reporting obligations. Our team will assist you in registering for tax purposes, declaring income, filing annual tax returns, and managing necessary payments, ensuring a smooth compliance process.

Double Taxation Relief: Explore the potential for relief under Malta's double tax treaties. We'll guide you through the process, helping you demonstrate compliance and potentially exempting you from the 10% income tax in Malta.

Ready to embark on a tax-efficient nomadic lifestyle in Malta? Our advisory team is here to tailor solutions to your unique situation. Contact us today to optimize your Nomad Residence Programme experience.

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