UK Non-Doms Planning International Relocation

Background

Until recently, the UK was seen as an attractive destination for persons not domiciled in the UK (UK Non-Doms) due to its favourable tax regime, requiring them to pay tax in the UK only on (i) income arising in the UK and (ii) on foreign income and capital gains that are remitted to the UK.

However, the recent ‘UK Sprint Budget’ as well as the Labour Party’s election manifesto both propose changes which could significantly affect the tax advantages available to UK Non-Doms. Thus, many UK Non-Doms have begun evaluating alternative tax residence options.

Malta

Malta, renowned for its idyllic landscapes and rich cultural heritage, is one of the most popular alternatives being considered by UK Non-Doms. Persons not domiciled but resident in Malta are taxed only on (i) income sourced in Malta and (ii) other income remitted to Malta. This means that any foreign capital gains, whether remitted to Malta or not, are not taxable in Malta.

Route to Maltese Residence for EU/EEA Citizens

EU and EEA citizens enjoy the right to leave their home state and to move and freely reside within the territory of any other Member State, including Malta. This right is also extended to family members of EU and EEA citizens.

Our brochure for EU citizens looking to relocate to Malta provides further information:

www.linkedin.com/posts/zeta-financial_relocating-to-malta-eu-citizens-guide-ugcPost-7163178615407366144-KBJj?utm_source=share&utm_medium=member_desktop

Route to Maltese Residence for Third-Country Nationals

Third-country nationals (TCNs) include all persons not domiciled in the EU, EEA or Switzerland. There are a number of different routes by which a TCN can the right to reside in Malta.

Our brochure for non-EU citizens looking to relocate to Malta provides further information:

https://www.linkedin.com/posts/zeta-financial_relocating-to-malta-non-eu-citizen-guide-activity-7163487488173404161-TVZo?utm_source=share&utm_medium=member_desktop

Route to Maltese Residence under Retirement Schemes

Our brochure on Retirement Opportunities in Malta provides alternative options to both EU Citizens and TCNs:

Retirement Opportunities in Malta