I have wanted to go to Malta for about 5 years now. English speaking, perfect climate, safe, etc. Family obligations with 2 little ones have prohibited travelling. If you don't mind me asking, how is it that you are going to this beautiful spot? What are the better areas to live in, and how fast are the internet trading connections? Thanks.
I am going there for vacation. I don't know much about the country, though. I have planned to relocate from Norway for many years and hopefully I will do it this winter. Climate is my main motivation. The advantagres with Malta is that English is official language and they have a good tax scheme for people like me who earn money abroad. Also easy to travel back and forth to Norway. Have you been there many times?
Hi! I vacationed in Malta a few years ago Loved the place, so unique Stayed in Gharghur ... my user name I guess I fit right in, cause several people approached me speaking in Maltese. Have a great trip!
Could you give some particulars about the "good tax scheme"? How do they tax gains on futures daytrading with US brokers. Thank you.
from: http://www.cdf.com.mt/pages/permanantresidenceinmalta.htm *** What concessions can this scheme offer you? An unusually low tax rate Permanent residents are taxed at the rate of 15% on all income arising outside Malta and remitted to Malta. The minimum amount on which the tax will be payable is on Lm12,000 covering all members of the family. Therefore the minimum tax is Lm1,800 per annum. Income and capital gains arising in Malta are taxed at normal rates, namely: For every lira of the first Lm3100 .................................... Nil For every lira of the next Lm1000 .................................. 15% For every lira of the next Lm900 .................................... 20% For every lira of the next Lm1000 .................................. 25% For every lira of the next Lm750 .................................... 30% For every lira of the remainder ...................................... .35% However the above tax bands will in actual fact only apply to capital gains arising in Malta (for example when you sell your house or apartment). Investment income (such as income from local bank deposits) can be charged a final withholding tax of 15%. Other special provisions apply to dividends distributed by Maltese companies. *** so looks like any trading on an acct outside of malta will be taxed 15% Lm1000 is around 2,900USD
I haven't been to Malta, but it's my dream to go. If the capital, Valletta, is a little too crowded, I think one of the lesser islands has the town of Victoria. Please PM me anytime if you find interesting facts for traders concerning Malta. Perhaps I can also help with your trip, or we can meet there.
or maybe not taxed.....: http://www.henleyglobal.com/maltaresidence.htm *** Income Tax: A flat rate of only 15% tax will be charged on all income (less personal allowances) received in or remitted to Malta subject to a minimum tax liability of Lm 1,800 (approx Euro 4,500) per annum per family. There is no tax on worldwide income or assets, so the Permanent Residentâs global income, which kept outside Malta, is not taxed in any way. ***
This is correct. This is very similar to UK and Ireland. Malta also has many tax treaties with other countries, but only air and sea with the US. There must be some very rich people living there. From pictures of the Marinas I can see some really big yachts. Big swinging traders? LOL. Victoria is on Gozo, I believe, a small island west of Malta. As a foreigner you have to pay more for an apartment compared to the locals. But still very cheap compared to Norway.