European Private Client Summit in Milan, Italy

The international conference in Milan, Italy focused on expatriate regimes across various European jurisdictions and was specifically designed for private bankers and family officers, offering insights into tax residency criteria and strategic advice on relocating to different countries.

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During the event, Andersen in Malta professionals provided comprehensive overviews of expatriate tax regimes in several European nations and shared practical strategies for clients considering relocation, highlighting the importance of careful planning and understanding the tax implications of moving to a new country.

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Head of Personal Tax, Magdalena Velkovska, accompanied by Tax Lawyer Dr. Anna Sultana where both in attendance. Magdalena was part of a panel of speakers, each highly knowledgeable in their respective jurisdictions, with Magdalena focusing on Malta’s tax residency criteria and provided strategic guidance on relocating to the country.

The event was a valuable opportunity to connect in person, collaborate, and exchange ideas on shared goals, challenges, and the latest industry trends. I want to express my gratitude to the organizers for hosting such a high-caliber event, with excellent sessions and venues. The hospitality and professionalism contributed significantly to the success of the conference. I look forward to meeting everyone again at the next event! – Magdalena Velkovska, Head of Personal Tax

Tax Residency Criteria in Malta

In Magdalena’s presentation, she outlined how, subject to double tax treaties, an individual is considered a resident in Malta for tax purposes if they meet one of the following conditions:

• Factual: Physical presence of 183 days during the tax or calendar year, or
• By Operation of Law: Demonstrating an “intention to reside in Malta ordinarily.”

Regimes for Impatriates in Malta

Magdalena also addressed Malta's regimes for impatriates—tax regimes designed to attract “human capital” to the country. These non-domiciled individuals who become tax residents in Malta are subject to different tax conditions. Notable examples include the Global Residence Programme, Malta Retirement Programme, and the Highly Qualified Persons Scheme, among others.

About our Private Tax Team

Led by Dr. Jean-Philippe Chetcuti, along with Magdalena Velkovska, Andersen in Malta's team of professionals offer private tax planning and compliance, citizenship and residency planning, wills and estates services, and international wealth structuring advice. They also provide structures for holding and VAT minimization of high-value assets, including aircraft, super yachts, and art.