Amendment to the High Net Worth Individuals Rules for Non-EU / Non-EEA / Non-Swiss

24 Jul 2013

< 1 min read

Following the launch of the Global Residency Programme earlier this month, the Government has (by means of Legal Notice 178 of 2013) amended the HNWI Rules.

The Rules state that no other applications from Non-EU/ Non-EEA/ Non-Swiss nationals in terms of the HNWI Rules will be accepted after the 30th of June 2013.

The Rules provide that a beneficiary under HNWI Rules may request the Department to change over to the Global Residence Programme Rules, which Rules are more advantageous to the beneficiary and his/ her dependant. The same applies to those applicants who are still in the process of applying for their HNWI status (as of the 30th of June), that is they may choose to avail of the new GRP program. This request may be done to the Department through an Authorised Registered Mandatory.

GVZH Advocates is a registered Authorised Registered Mandatory. For further information on taxation in Malta contact usĀ here.