The international conference focused on expatriate regimes across various European jurisdictions, which was specifically tailored for private bankers and family officers, providing insights into tax residency criteria and offering strategic advice on relocating to other countries.
During the conference, Andersen experts presented comprehensive overviews of the expatriate tax regimes in several European countries and discussed practical strategies for clients considering relocation, emphasizing the importance of thorough planning and understanding the tax implications of moving to a new country.
Representing Malta was Head of Private Clients, Magdalena Velkovska together with Private Clients Lawyer Dr. Anna Sultana. Magdalena was part of a group of speakers who are experts of their own jurisdiction. Naturally Magdalena explained tax residency criteria and shared strategic advice on relocating to Malta.
It was a valuable opportunity to catch up in person, collaborate, and exchange ideas on our shared goals, challenges and latest trends. I want to express my appreciation to the organizers for putting together such a high-quality event, with outstanding sessions and venues. I am grateful for the hospitality and the professionalism that made this event a success. I look forward to seeing you all again on the next occasion! - Magdalena Velkovska, Head of Private Clients, Tax
Tax Residency Criteria in Malta
In Magdalena's address to the delegates, she explained how; subject to double tax treaties, an individual is considered a resident in Malta for Maltese tax purposes if he satisfies one of the following:
- Factual: Physical presence of 183 days during the tax / calendar year or;
- By Operation of Law: Demonstrating an “intention to reside in Malta ordinarily”.
Regimes for Impatriates in Malta
She also touched on the regimes for Impatriates in Malta. An Impatriate Regime is a tax regime designed to encourage the movement of “human capital” to that particular country. These non-domicile individuals who become tax residence in that country will have different tax conditions. Some examples are the Global Residence Programme, Malta Retirement Programme, Highly Qualified Company Executive, among others.
Chetcuti Cauchi Private Client Practice
Led by Dr Jean-Philippe Chetcuti, together with Magdalena Velkovska, our lawyers and tax advisers provide personal tax planning and compliance, citizenship and residency planning, wills and estates and international wealth structuring advice. We also provide structures for the holding and VAT minimization of high value assets including aircraft, super yachts and art. More here.
