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The “Highly Qualified Persons Rule” has been launched in order to recruit the highest qualified professionals available worldwide, as a measure to attract top talent and skills in the financial services, remote gaming and aviation sectors.
Highly Qualified Persons Rules ( HQP ) – Tax Planning for High-Income Earners
A Tax Residence Programme to attract foreign talent to Malta.
Malta introduced a specific Tax Residence Programme, the “Highly Qualified Persons Rule” with the sole aim and purpose of recruiting the highest qualified, experienced and senior professionals available over the globe, as a measure to attract top talent and skills in the financial services, remote gaming and aviation sectors.
This scheme was introduced by virtue of L.N. 106 of 2011 and prolonged to these other sectors by the Legal Notice 141 of 2018.
What are the main requirements to benefit from the Highly Qualified Persons Rule?
Senior employees that occupy positions with companies licensed by the MFSA (Malta Financial Services Authority), the MGA (Malta and Gaming Authority) or the Authority for Transport in Malta (TM), might be eligibile for the Highly Qualified Persons Rules programme.
As a business and investment hub, Malta’s success in the financial services, iGaming and aviation industry depends on securing top talented managers, directors and CEOs and regulated entities depend on the ability to attract and recruit highly qualified, experienced and senior professionals available worldwide.
Senior Positions, or “Eligible Office” in the financial sector and iGaming industry, means employment in, for example, one of the following positions, amongst others:
- Actuarial Professional
- 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
Also, the income would need to be a minimum of EUR75,000 which is adjusted annually according to the Retail Price index.
In practice, this means that the minimum income (based on the Retail Price Index published by the National Statistics Office) must exceed €84,991 for the year 2019.
The Highly Qualified Persons Rule: The Benefits
Applicants taking up residence in Malta through The Highly Qualified Persons Rule will benefit from a flat tax rate of 15% up to a maximum income of EUR5M. Any excess on the said sum is exempt from tax.
An HQP applicant will have to submit a prescribed form (endorsed by the relevant authority) to the local tax authorities together with his/her tax return.
How we can help you?
With over 30 years of experience in the corporate and financial services industry in Malta, CSB Group is commited to provide top-notch services to Private Clients worldwide. CSB Group, has been providing Investment immigration services to High-Net-Worth families since the inception of these programmes.
Our team will guide you through the process of applying for the Highly Qualified Person rule status and we would also be able to give you further tax advice and support.
We have had the good fortune of working with Andres and his team at CSB on a variety of citizenship and residency matters for our clients. CSB has given us thoughtful and thorough advice and been an invaluable partner. Despite being many time zones and thousands of miles away, Andres and his team are incredibly responsive and willing to speak at any hour of the day. We would certainly recommend them to anyone seeking best-in-class legal advice related to global citizenship and residency issues.
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"CSB provides us with a wide range of professional services and we are equally happy with any of them. We’d recommend CSB to any company looking for a solid partner to support its Malta-based business."
"I have been working with CSB for over 12 years and the words that come to my mind are trust and responsibility. CSB is an integrated part of my companies – it’s simple and safe and lets me focus on the bigger picture."
Andreas L. Borgmann
Reddo Holding Ltd
Thank you for making everything run perfectly smooth for us. Your team looks after us as if we were their parents and they are everything one can wish for; accurate, fast and with a vast knowledge. We are very fond of CSB Group and we are more than content.
Retired Swiss Entrepreneur
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