Malta = 0 Foreign Income Tax

conjamuk

conjamuk

Stakin Stacks
May 27, 2008
1,768
41
48
Just found this out.
Fuck it I am going to Malta. Sun, cheap cost of living.
Going to save hundreds of thousands this year by not paying tax.
Foreign source income not remitted to Malta – in other words, your entire worldwide income whether it be earned, unearned, capital gains or whatever – is not taxable at all.
 
  • Like
Reactions: guerilla


If you're a US citizen you're liable to pay taxes for 10 years after leaving the country, and this includes abandoning your citizenship

Good luck bros
 
It's also boring as fuck there. Most people can't make it past the 6 month mark.

But it's a great flag to plant if you can get residency there.
 
productionhead said:
If you're a US citizen you're liable to pay taxes for 10 years after leaving the country, and this includes abandoning your citizenship

Good luck bros
Click to expand...

Damn sucks for you guys is there no way for you to avoid that? Also forgot to mention 0 tax only applys to eu nationals. But hong kong has 0 foreign income tax so that could work for US guys.
 
lukep said:
It's also boring as fuck there. Most people can't make it past the 6 month mark.

But it's a great flag to plant if you can get residency there.
Click to expand...

Boring is subjective. I spent 2 weeks there in Nov and it was far from boring. Its certainly no Thailand though. But 0 tax makes it worth it.
 
And 5% corporation tax.

Reason why I'm creating a company there next month, and of course the hot exchange students, night life and it's overall a beautiful island ;)
 
Cystomatic said:
And 5% corporation tax.

Reason why I'm creating a company there next month, and of course the hot exchange students, night life and it's overall a beautiful island ;)
Click to expand...

And great diving!
cliff-jump-malta-31908084-800x533.jpg
 
Cystomatic said:
And 5% corporation tax.

Reason why I'm creating a company there next month, and of course the hot exchange students, night life and it's overall a beautiful island ;)
Click to expand...
Wouldn't it be better to incorporate somewhere with 0% corporation tax? I'm not familiar with Malta's system, but I'm guessing income coming to you from a Maltese company is gonna be classed as domestic income.

Plus, if you're going with the hassle of an offshore company, then you might as well find somewhere that doesn't do corporation tax, foreign filing is gonna be just as difficult anywhere pretty much.
 
productionhead said:
If you're a US citizen you're liable to pay taxes for 10 years after leaving the country, and this includes abandoning your citizenship
Click to expand...

This is not true. It used to be this way but not any more. These days what you do is pay an "exit tax" when you renounce your US citizenship, which for most people is going to be pretty small and reasonable. Basically they treat it as if everything you own is "sold" on the day you renounce, and you simply pay normal capital gains taxes, etc. as if you had sold your house, and any other assets. If you don't own real estate, etc. and/or you are planning on selling it anyway, you won't really pay any additional "tax" to renounce, and you won't owe Uncle Sam a penny of any future earnings.
 
-joe- said:
Wouldn't it be better to incorporate somewhere with 0% corporation tax? I'm not familiar with Malta's system, but I'm guessing income coming to you from a Maltese company is gonna be classed as domestic income.

Plus, if you're going with the hassle of an offshore company, then you might as well find somewhere that doesn't do corporation tax, foreign filing is gonna be just as difficult anywhere pretty much.
Click to expand...

Malta is an EU country and is therefor not classified as an "offshore" location. You can set up a company in Malta for $2k - $3k and get it up within 24 hours. So 5% is not bad at all, considering most offshore set-ups cost $8k upwards :1orglaugh:
 
THis movie takes place in malta

[ame=http://www.youtube.com/watch?v=_zHEd8VHiQo]MST3K - Favorite Moments - Final Justice - YouTube[/ame]
 
Cystomatic said:
Malta is an EU country and is therefor not classified as an "offshore" location. You can set up a company in Malta for $2k - $3k and get it up within 24 hours. So 5% is not bad at all, considering most offshore set-ups cost $8k upwards :1orglaugh:
Click to expand...
Fairly sure Malta is classified as offshore for almost anyone here.
twesQ.png



Isle of Man? Channel Islands? Isle of Man is £200 for registration.

FSC- Our fees for registering and maintaining a company - Isle of Man Government DED

and my point is not just the corporation tax, it's the fact that if your salary you take from your companyis coming from Malta, due to the company being incorporated there, then I'd imagine it's classed as being Maltese revenue, therefore taxed at 35% income tax.
 
dsm56 said:
Where did you guys read this?

Overview of the Corporate Tax System in Malta -3a Malta

Corp tax rate is 35%, and there's no double taxation. But that means you have to pay tax elsewhere or pay 35%...

I've read about malta before, but never have I read 5%... please someone enlighten me.
Click to expand...

You pay 35% taxes, but 30% of that is refundable to the shareholders of the company. So you end up paying an effective tax of 5%.
 
dsiomtw said:
This is not true. It used to be this way but not any more. These days what you do is pay an "exit tax" when you renounce your US citizenship, which for most people is going to be pretty small and reasonable. Basically they treat it as if everything you own is "sold" on the day you renounce, and you simply pay normal capital gains taxes, etc. as if you had sold your house, and any other assets. If you don't own real estate, etc. and/or you are planning on selling it anyway, you won't really pay any additional "tax" to renounce, and you won't owe Uncle Sam a penny of any future earnings.
Click to expand...

Pretty sure that 10 years was tied to whether or not you're renouncing your citizenship for tax reasons. Like, if you tell them you're going to become a resident of a tax haven.
 
You must log in or register to reply here.
Top Bottom