Highly Qualified Persons Rules

 

The objective of the Highly Qualified Persons Rules (Legal Notice 106/2011), is the creation of a scheme designed to attract highly qualified persons to occupy eligible offices with companies licensed and/or recognized by the MFSA, the LGA and companies holding an Air Operators’ Certificate issued by the Authority for Transport in Malta.

In accordance with these regulations, applicants that successfully register under the scheme are entitled to benefit from a fixed reduced tax rate of 15 % on all income derived from their employment in Malta.

ELIGIBILITY FOR APPLICATION UNDER THE HIGHLY QUALIFIED PERSONS RULES

An individual shall be eligible to apply for special tax status under the Highly Qualified Persons Rules, if he satisfies all of the following conditions:

i. must be employed with a company that qualifies as an eligible office in terms of the regulations (vide list of eligible offices mentioned below);

ii. must have an income that exceeds €75,000 per annum (adjusted annually in line with retail price index);

iii. provides evidence that the contract of employment was drawn up to exercise genuine and effective work in Malta;

iv. provides evidence that he/she has five years experience in the specific field and has the necessary qualifications in order to carryout the employment;

v. does not benefit under any other relocation scheme in Malta;

vi. must not be domiciled in Malta;

vii. must be in possession of health insurance policy which covers himself and his dependents in respect of all risks across the whole of the EU normally covered for Maltese nationals;

viii. must be deemed to be a fit and proper person, and therefore, an international due diligence exercise shall be carried out prior to the granting of the special tax status;

OFFICES ELIGIBLE FOR APPLICATION

• Actuarial Professional
• Aviation Accountable Manager
• Aviation Continuing Airworthiness Manager
• Aviation Flight Operations Manager
• Aviation Ground Operations Manager
• Aviation Training Manager
• Chief Executive Officer
• Chief Financial Officer
• Chief Commercial Officer
• Chief Insurance Technical Officer
• Chief Investment Officer
• Chief Operations Officer
• Chief Risk Officer (including Fraud and Investigations Officer)
• Chief Technology Officer
• Chief Underwriting Officer
• Head of Investor Relations
• Head of Marketing (including Head of Distribution Channels)
• Head of Research and Development; (including Search Engine Optimisation and Systems Architecture)
• Portfolio Manager
• Senior Analyst (including Structuring Professional)
• Senior Trader/Trader
• Odds Compiler Specialist

 Written by: Dr. Mark George Hyzler  LL.B, LL.M.(Lond), LL.D.

 

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