always at your disposition
OUR WORK GIVES US UNPRECENDENTED SATISFACTION TO CONTRIBUTE TO THE GROWTH AND PERFORMANCE OF OUR CLIENTS
TAX INVESTORS’ INCENTIVES
Tax refund system:
• basic corporate income tax rate equals to 35%,
• however, having regard to numerous exemptions
and reliefs (tax reliefs and return system, full imputation
system, refundable tax credit system), due tax rate may
be reduced even to 0%
Favourable tax law provisions:
• no rules on tax at source or thin capitalisation, no provisions on foreign companies under control nor on transfer prices.
• low basic VAT rate: 18%.
• More than 50 international double taxation agreements between Malta and other states (including Poland).
• optimal investment, research and development tax reliefs.
• exemptions from stamp duties for companies making significant part of investments out of Malta.
• Easy and fast procedure for companies, where a director and a secretary may be citizens of other countries, low share capital, minimum registration formalities,
• High Malta’s rating position in global rating agencies (In 2009 Standard and Poor’s awarded Malta with rating A/A1, and Fitch ranking - with rating A),
• Comprehensively qualified and multilingual employees staff,
• Facilitated and direct contact with authorities of public administration and offices, due to small area of the country and friendly approach to investors, very short period of waiting for tax interpretations, limitation of official formalities to minimumdo minimum, high level of computerization of state authorities.
• System of state financial grants for entrepreneurs: co-financing of expenses covering undertakings that contribute to Malta’s economic development, giving preferrentially-percentaged loans for entrepreneurs dealing with production and tourism and many others.
REGISTRATION OF VESSELS AND AIRCRAFTS
Registration of a ship under Maltese ensign/flag is followed by priviledges notwithstanding the ship owner’s nationality/company seat: wide and innovative possibilities to register ships (also those under construction), regulation, in Maltese law, institutions of trusts and fractional ownership, low registrattion costs, low tonnage tax, VAT exemptions for ship-lessors and shipowners, tax reliefs covering leasing of ships, simplified procedures for licensed shipping organizations.
• Malta is an island country located in the heart of Mediterranean Sea, to the south of Sicilia. Malta’s advantage is its vicinity of both European Continents as well as African countries with whom Malta keeps very good economic relations.
• Malta’s area is 316 km² inhabited by less than 420,000 inhabitants – such area and number of population is comparable to the city of Szczecin.
• English, along with Maltese, is an official language.
• Since 2004 Malta is a member state of the EU, and as of 2008 its official currency is Euro.
• Malta offers high standard of daily life keeping costs of living, salaries and costs of rental at levels comparable to other EU states.
• Exceptional for Malta is greatly organised tourist infrastructure and mild climate. It is situated in UTC+01.00 time zone.
• Most innovative technological and telecommunication solutions are on Malta widely employed.
• For many years Malta is a centre of financial services: numerous types of funds, trusts are in place, the network for investment and insurance services is greatly developed.
• Maltese legal system is based upon British Common law.
• Stable political system, friendly approach towards international businesses on part of political forces, open and agreeable economic surrounding, low unemployment rate, low deficit and controlling of public debt, modern and varied economy based on international business make Malta to be quite unique location for investors.
IIP PROGRAMME MALTA CITIZENSHIP BY INVESTMENT
In November 2013, Malta implemented an investment programme allowing the persons of impeccable repute and of stable financial standing to receive Maltese citizenship on the basis of a contribution to and investment in Malta (the so-called IIP – Individual Investor Programme).
To qualify under the regulations of this programme, the applicant for citizenship must meet in particular the following requirements:
• A contribution of €650,000 to Malta ; 70 per cent of this contribution shall go into a National Development and Social Fund set up by the Government of Malta, and the rest will go to the consolidated fund (the NDSF aim consists among other in carrying out projects linked to education, innovation, job creation, and projects in the public health sector) ;
• an investment in property of at least €350,000, or entering a property rental contract for at least €16,000 p.a. both on five-year contracts basis ;
• an investment of at least €150,000 in bonds or shares in Malta to be kept for five years (such as may be sanctioned by the Maltese government as beneficial to Malta) ;
• a “genuine link” with Malta (citizenship being granted after 12 months from effective date of commencement of such “genuine link” with Malta) ;
• positive results of the due diligence process aiming at ascertaining whether the applicant is a person of good standing and repute, thus being worth to be eligible for the Individual Investor Programme (the so-called “fit and proper test”) ;
• proving that the applicant does not suffer from any contagious disease.
Applications for Maltese Citizenship by Investment under the Individual Investor Programme are to be made to and processed wholly by Identity Malta.
Applicants are to be represented by an Accredited Person duly licensed to this aim.
Our law office cooperates with such a person accredited by Maltese authorities.
TAX INVESTORS’ INCENTIVES
REGISTRATION OF AIRCRAFTS
Kancelaria Prawna Kunert, Kożuszko, Sanak
KKS LEGAL Sp.k.
Polska 00-680 Warszawa
ul. Żurawia 45
tel. +48 22 594 23 23
fax. +48 22 594 23 24
Copyrights © 2014 KKS LEGAL
project and realisation: Krzysztof Wronowski