Tax Schemes and Services

Summa Fiduciary Services Ltd. provides a range of tax services to companies registered in Malta with non-resident ownership and to foreign individuals who decide to take up residence in Malta on a permanent basis.

We will act as the company / foreign individual's tax representative with the local authorities to ensure the regular and correct filing of all necessary tax documentation with the Maltese authorities.

Residence Scheme Certificates

Individuals who satisfy the relative conditions are granted a Residence Scheme Certificate by the Inland Revenue Authorities that entitles them to remain on the island indefinitely, precluding them, however, from exercising any kind of work activity in Malta unless duly authorised by the relevant authorities. The certificate entitles the holder to pay a flat rate of income tax of 15% subject to a minimum of Eur4,150.

Since 1988, a person applying under the said Scheme would have to meet the following financial conditions:

-an annual income equivalent to Eur23,000 arising outside Malta or the possession of a capital equivalent to Eur349,000;

-the remittance to Malta of an annual income of Eur13,950, and an additional amount of Eur2,300 in respect of each dependent.

The residence scheme certificate holder is also required to either purchase immovable property valued at not less than Eur116,000 or Eur69,000 in the case of an apartment or lease/rent property for not less than Eur4,150 per annum and to take up residence within 12 months from the issue of the certificate.

The holder will be required, at the end of the first year of residence and each calendar year thereafter, to complete an annual income tax return showing any remittances of income to Malta for the year and an annual declaration which will need to be filed together with specific attachments confirming that the certificate holder has complied with the conditions of the Scheme.

We will be pleased to provide you with personalised advice and assistance should you be interested in this scheme. Please contact us if you require any further information.