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Clarity on Malta-US Tax Treaty (Jan 2022): An agreement with the US settled the meaning of 'pension fund' in the Malta-US income tax treaty. This resolved concerns about individuals avoiding income tax on their retirement plans in Malta.
Improved AML Compliance: Malta made significant advancements in Anti-Money Laundering (AML) efforts, shifting from partial compliance to full/large compliance on key FATF recommendations. This progress led to Malta's removal from the FATF increased monitoring list in June 2022.
Entrepreneur-Friendly Residency Program: Malta launched a residence program for non-EU/EEA entrepreneurs. With a minimum EUR25,000 investment in local start-ups or scale-ups, applicants secure a three-year residency permit, renewable for five years. This program appeals to those seeking to live in Malta while engaging in its entrepreneurial scene.
These changes reinforce Malta's commitment to enhancing its appeal for businesses and individuals. They simplify tax rules, enhance financial security, and open new doors for those keen on living and investing in this dynamic Mediterranean nation.Copyright©2023 WPS Partners Estonia OÜ. All rights reserved.
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