Malta Highly Qualified Persons Scheme
The Highly Qualified Persons scheme introduced in 2011 is aimed at attracting highly qualified professionals in sectors such as:
- financial services
These highly qualified persons can work with companies who are licensed and recognised by the Malta Financial Services Authority, the Malta Gaming Authority and companies holding an Air Operators Certificate or an Aerodrome Licence issued by Transport Malta. This scheme introduces a special tax status for highly qualified individuals who occupy an eligible office in the financial, gaming and aviation sectors.
An individual is eligible to apply for a special tax status under this scheme if he satisfies the following conditions:
- Income received by the professional amounts to at least €75,000 adjusted annually in line with the Retail Price Index. The minimum income (based on the Retail Price Index published by the Malta National Statistics Office) must exceed:
- €82,881 for basis year 2017
- Employment with a company which falls under the definition of ‘eligible office’.
- Professional must show that he has the necessary qualifications and at least 5 years of experience.
- Professional must not be domiciled in Malta.
- Professional does not benefit under any other special tax scheme in Malta.
- Professional must be deemed to be a fit and proper person.
- Professional must be in possession of a health insurance policy covering himself and his dependents.
Individual income from a qualifying contract of employment in an “eligible office” is subject to tax at a flat rate of 15% provided that the income amounts to at least €75,000 adjusted annually in line with the Retail Price Index. The 15% flat rate is imposed up to a maximum income of €5,000,000 (five million euro), the excess is exempt from tax.