Combined with competitive personal tax rates, and an overall high quality of life, companies find Malta a particularly attractive place to assign staff with expert knowledge that cannot be found locally. EU nationals can freely work and live in Malta, and although third country nationals require a work permit, it is relatively easy to bring in foreign employees. In its pursuit to attract talent to Malta and to accommodate foreign companies which need to bring in human resources from abroad, the Maltese legislator has introduced a number of employment incentives. Amongst these incentives, one finds the ‘Highly Qualified Persons’ rules which provide an excellent incentive for foreigners in key senior positions within the financial services and iGaming industries to relocate to Malta.

Senior positions specified in the Malta Highly Qualified Persons rules are:

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

The ‘Highly Qualified Persons Rules 2011’ open up to EEA nationals, Swiss nationals and third-country nationals, the eligibility to the benefit granted by the Income Tax Act (Cap. 123) article 56. Article 56 (21) of the Act states that a person who is engaged in a qualifying contract of employment in Malta or abroad in respect of work duties carried out in Malta, that individual may opt to have his income charged to tax at the rate of 15% for a number of years, provided they have an annual income of at least €82353, excluding fringe benefits in terms of employment for the basis year 2016, as adjusted by retail price index (RPI).

Fairwinds Management Limited professionals assist our clients in the process of employment of foreign nationals and in applying for employment incentives. Our tax consultants help our clients by giving them advice on which tax incentives they are eligible to avail for and which are most beneficial to them as a company or to employees. Fairwinds Management Limited can also help individuals having their domicile outside of Malta and who are employed in senior positions with a company that is licensed or recognised by the Malta Financial Services Authority (MFSA) or the Malta Gaming Authority (MGA) benefit from a flat personal income tax rate of 15% on income up to €5 million.